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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: trendmastr who wrote (14648)	2/23/1998 7:37:00 PM
From: janski	Respond to of 29386

The formula has a huge built in penalty for converting at a first chance they get which is 4 months from now. The penalty becomes less as you get close to 12 months at which time it goes away. There are other conversion rules for the first 12 months which only allow them to convert small portions a month and only even a smaller portion allowable if their convertion price should be less than the market price. The details on that are quite convoluted but that appears to be the bottom line. The maximum conversion price is 13 if the stock closes on average above 8.50 for the next 30 trading days, it goes down to minimum of 9$ if the average falls below 5.50. The actual conversion price is the lesser of the maximum conversion price and average of 5 closing bids from 5 Wed's preceding the conversion date - if converted in 12 months or more. If I owned the conv I would like to see the price go down below 5.50 for now. The buyers agreed to not do any shorting though. On the other hand the current owners(management) could produce some news to keep the price above 8.50 and minimize dilution..

To: trendmastr who wrote (14648)	2/23/1998 7:38:00 PM
From: janski	Read Replies (2) \| Respond to of 29386

The formula has a huge built in penalty for converting at a first chance they get which is 4 months from now. The penalty becomes less as you get close to 12 months at which time it goes away. There are other conversion rules for the first 12 months which only allow them to convert small portions a month and only even a smaller portion allowable it their convertion price should be less than the market price. The details on that are quite convoluted but that appears to be the bottom line. The maximum conversion price is 13 if the stock closes on average above 8.50 for the next 30 trading days, it goes down to minimum of 9$ if the average falls below 5.50. The actual conversion price is the lesser of the maximum conversion price and average of 5 closing bids from 5 Wed's preceding the conversion date - if converted in 12 months or more. If I owned the conv I would like to see the price go down below 5.50 for now. The buyers agreed to not do any shorting though. On the other hand the current owners(management) could produce some news to keep the price above 8.50 and minimize dilution..

To: trendmastr who wrote (14648)	2/23/1998 7:40:00 PM
From: janski	Respond to of 29386

SOmehow same message got posted twice. eom.

To: trendmastr who wrote (14648)	2/23/1998 7:47:00 PM
From: Bradley W. Price	Respond to of 29386

OFF-Topic: You know, I want to congratulate Roy Sardenia. I really appreciate him making himself available for questions from our little community. His candor is refreshing, and quite unusual. We have 14000 posts here about two companies, Ancor and Brocade, who refuse to grace us with their presence. Supposedly these are two highly advanced techs, and they are scared of the little ole' internet. What, are we not good enough for them? Will a little pettiness hurt them? I mean, they will go talk to the big boys at some BARS conference, or Interop, and drop all sorts of little hints. They kick out press releases by the dozens-because that only allows one way communication, but will they talk to their investors? NO, they say, we might get sued. Hey buddies, you are going to get sued anyway if your stock goes from 41 to 4. You think what you say here is going to make any difference? Quite frankly, it appears to me, some of the people here (not including me, unfortunately) are smarter than some of the people there. But, heaven forbid, there be a two-way dialoge (sp?)- these companies might learn something. Just venting! bp