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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

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Aug 24 5:00 PM EST

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To: Kerry Lee who wrote (18168)	9/24/1998 8:37:00 PM
From: Greg Hull	Read Replies (1) of 29386

Kerry, You said "The Company has not decided yet whether to reflect the entire $7-9 million revenue at ZERO COST" From the press release: << Retention of $2M of the prepaid royalties is contingent on Ancor's completion of certain deliverables defined in the contract.>> Are the deliverables available to be delivered today, or is further development required, e.g. more software to be written? I could imagine additional documentation might be required, but how about something riskier like a new ASIC with further integration? Does this agreement get filed with the SEC? Are we sure there are no stock warrants or other opportunities for further dilution? Not trying to be negative, only less naive. Thank you for the additional details. Greg

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