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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

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To: Craig Stevenson who wrote (16753)	6/21/1998 6:56:00 PM
From: Roger Arquilla	Read Replies (1) of 29386

Craig, I think your comments regarding the huge volume spike of a week ago Thursday is definitely indicative of bad news having leaked out. Whether in fact it pertains to a lost deal with IMB remains to be seen. We have never seen that kind of volume or sell off without the negative press eventually showing up. The fact that Roy stated the probability of an IBM deal going to Brocade, lend more credibility to the reason. It is becoming increasingly obvious that Ancor has made some very critical marketing decisions or in fact the MKII is not optimized to customer specifications. Perhaps it is simply a matter of price, but whatever it is, the uphill climb is getting increasingly more difficult. I would very much welcome a buy out at this point before another round of financing becomes necessary. You are right. The rate of cash burn without any significant revenue is causing that junction to cross at an ever faster rate. It is hard to imagine a dilution of shares at the current price. Things are looking very dismal lately and some kind of action from management is long overdue. IMO

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