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Technology Stocks : Superconductor Technologies : SCON -- Ignore unavailable to you. Want to Upgrade?

To: big run who wrote (462)	2/28/2000 9:55:00 PM
From: Tom Hua	Respond to of 903

Mike, massive dilution is coming: Similarly, and at the special meeting of stockholders held on August 6, 1999, our stockholders approved the issuance of series D preferred stock and related warrants. As a result, the series A-2, A-3, B-1, C and D preferred stock may be fully converted into shares of common stock, potentially at a discount to the market price of the common stock on the date of conversion. Specifically, we anticipate that the series A-2, A-3 and C preferred stock will be converted into 2,458,491 shares of common stock in connection with this offering. Also, the holders of warrants issued in connection with the preferred stock financings and the related exchange agreement may fully exercise warrants for the purchase of our common stock at prices that may be below the market value of our common stock on the date of exercise. The total number of shares that may be issued upon those preferred stock conversions and warrant exercises is currently 6,336,624 shares. Regards, Tom