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Technology Stocks : SYQUEST -- Ignore unavailable to you. Want to Upgrade?

To: Troy Shaw who wrote (6991)	8/10/1998 2:58:00 PM
From: Troy Shaw	Read Replies (1) \| Respond to of 7685

Dale, I rechecked the S-3/A and you are correct on the total dollar figure. The problem was, that the series 4 preferred were $100 each, not $1000. So, the correct number is $56,952,300 of preferred outstanding as of the last S-3 filing. That's a little more reasonable considering SyQuest's market cap. My theory remains unchanged, however. ----- My theory on the timing of the layoff is that it is stock price related. With the drop in the share price, it became obvious that they couldn't continue to get financing the way they had in the past, and could no longer afford their employees. Up until now, the stock holders have been paying SyQuest's salaries, but no more. (Not to mention the stock holders have been wrapping a nice 20 dollar bill around every SparQ drive -- just a wild guess.)

To: Troy Shaw who wrote (6991)	8/10/1998 3:33:00 PM
From: Troy Shaw	Read Replies (1) \| Respond to of 7685

Dale, I'm trying to figure out the meaning of the table on page 20 in the July 30, S-3/A as it relates to footnote #8. Below, I have extracted the lines from the table that refer to the share holders mentioned in footnote #8. << Shares of Shares of Common Stock Common Stock Beneficially Shares of Beneficially Owned Prior to Common Stock Owned After Name Offering/(1)(2)/ Being Offered Offering/(3)/ ---- --------------- ------------- ------------- CC Investments, LDC 5,078,853 10,958,701 0 Southbrook International Investments, Ltd. 5,078,853 8,894,135 0 RGC International Investors, 5,078,853 12,425,515 0 Nelson Partners 5,078,853 1,565,325 0 Olympus Securities, Ltd. 5,078,853 2,568,671 0 Combination, Inc. 5,078,853 3,000,000 0 >> So, my question is, in which column (Shares of Common Stock Owned Prior to Offering, or Shares of Common Stock Being Offered) would the following share amounts appear if there was no 5.0% rule as stated below, and what affect (if any) does that have on the number of shares that will ultimately be outstanding? << (8) Because the Selling Stockholders are subject to the 5.0% Limit, the number of shares of Common Stock shown to be beneficially owned by each Selling Stockholder is 5.0% of the number of outstanding shares of Common Stock as of June 5, 1998. If the Selling Stockholders were not subject to the 5.0% Limit, the shares of Common Stock beneficially owned by them would be as follows: Shares of Common Stock That Would be Beneficially Owned ---------------- CC Investments, LDC, 19,309,520 Southbrook International Investments, Ltd., 10,161,435 RGC International Investors, LDC, 14,781,107 Nelson Partners, 11,991,683 Olympus Securities, Ltd., 14,427,503 Combination, Inc., 8,500,000 >> Is this saying.... At this time, these companies only own 5,078,853 shares, because that is all we could legally give them. However, as they sell those shares we will give them more shares?