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

To: George Dawson who wrote (16991)	7/2/1998 12:12:00 AM
From: iceburg	Read Replies (1) \| Respond to of 29386

George, First of all, to my understanding, the series-C reg-D guys have stood pat through all this carnage. To the best of my knowledge, they are not contributing to this volatility. Without them converting, there is no dilution, potentially really disappointing the shorts. The series 'B' can be converted at any time, simply they receive stock at 85% of the closing price whenever they decide they want to convert. The deal was $4.88 or 85% of the closing price. At $4.88 last I knew there were approximately 700,000 shares left to convert. That figure would be slightly above 1M shares at current prices. Remember their warrents incentive price was set near $7. They will probably convert when they are sure of a bottom. The series 'C' conversion price is based on an average share price over the past 30 days so it would be in their best interest to convert those on the way up, not on the way down like we have been. Quite frankly, to this point, I am embarassed to call myself an investor when I see how patient these guys are. There is a no shorting clause in the series 'C' agreement. Steve Snyder could certainly provide a more complete synopsis if someone cares to call him. Steve

To: George Dawson who wrote (16991)	7/2/1998 9:54:00 AM
From: Craig Stevenson	Read Replies (2) \| Respond to of 29386

George, I was doing a little research last night on the AR/Bullstroke buyout rumor, and I think I found something. It's a long shot, especially since we have no idea whether the rumor is actually true, but it fits everything, and I haven't been able to poke any holes in it. (If anybody can think of something, please post.) Do NOT take this as gospel. It is 100% pure speculation. I think it is reasonable speculation, but it is speculation just the same. I have long thought that any potential suitor would be one of the potential OEMs. AR/Bullstroke mentioned "SSD" over on Yahoo, and someone fired back that this could mean "Scalable Systems Division". The only name like that I could find on the Internet belonged to Intel, and I find that scenario unlikely. However, I thought of another possibility for SSD. Storage Systems Division. An Internet search on that name yielded two hits. One, from IBM, is the storage division based out of San Jose. I believe this is the OEM referred to by AR and Roy, that they say is going to Brocade. The other hit I got is Unisys, and that is who I think AR is referring to. They have a Storage Systems Division based in Mission Viejo, California. Here are some additional reasons I think this is a good possibility: 1. Unisys is NOT geographically close to Brocade. (Los Angeles area vs. San Francisco) 2. They would not be considered a top-tier OEM, but certainly respectable. 3. They appear to be heavily involved in Fibre Channel. 4. To my knowledge, AR has never said that Brocade was going to get them. Granted, this is a stretch, but it seems to fit the parameters given by Bullstroke, it is a name that we haven't heard much, and we certainly have not done any real research into them. Does anybody have any connections at Unisys? Craig