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

To: iceburg who wrote (17185)	7/11/1998 3:38:00 PM
From: Craig Stevenson	Respond to of 29386

Steve, <<WHY do you say things could get ugly, if Bullstroke is RIGHT we will be receiving $8/share for OUR stock shortly and Ancor has a 20M tier II OEM secured?>> Maybe I should say that things ARE ugly, and they could get UGLIER. <g> My concern is that I already think that ANY OEM revenue will be too late for Ancor, without additional financing. That guarantees dilution of some sort. I'm not trying to push the panic button on this issue, but it certainly is something that investors should consider. I dare say most of us didn't think another round would be necessary. The buyout rumor is another thing that bothers me. It would appear that almost NOBODY is giving it any credence, otherwise the price would be higher than it is. Even an $8 buyout would leave me almost $3 short of break-even on the shares I still hold. If NOBODY is expecting higher revenues than Ancor pre-announced, what did they do during May and June, twiddle their thumbs and burn another couple million dollars? <<Worst case they sell the company should they deem the dilution too expensive,>> I don't agree on this one. If Ancor management thinks they have any chance to succeed, even with additional dilution, I believe they will choose that route. I'm also not going to sit here and say that ANCR is going to zero. I don't think it is, and I do see some intrinsic value in their technology, and it's probably higher than $3 per share. All I'm saying is that I want to wait a little while longer, to see what really happened a few weeks ago to trigger the selloff. Everyone is certainly free to make their own call on ANCR. I've just lost a lot of capital lately investing in ANCR, and I'm trying not to lose any more. Craig