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

To: Eleder2020 who wrote (17740)	8/17/1998 12:55:00 AM
From: Roy Sardina	Read Replies (2) \| Respond to of 29386

Ed You are right. The market is just developing and nobody is happy that it took so long. All the FC companies have burned BUCKETS of cash to stay alive long enough for the market to materialize. It looks good right now, as more and more vendors allow FC Fabrics in their enviorments we should see a need for more SAN's (as opposed to point-to-point connections) As to Brocade being on a roll...Brenda, Kumar, Larry Marques and I made quite a team. Roy

To: Eleder2020 who wrote (17740)	8/17/1998 10:15:00 AM
From: iceburg	Read Replies (3) \| Respond to of 29386

Ed, When you did your calculations was 20 million the worst scenario you came up with? Unfortunately no. My understanding is that both convertables are essentially floorless. Although if things get bad enough I'm sure Ancor can protect itself by buying the preferred shares back with a new loan. I'm sure Steve Snyder is keeping a keen eye on the situation. I came up with 20M as follows: Assumed 12M now, there were 700,000 shares left to convert in the series-B last I knew... The conversion price was the lower of 85% of a closing price or $4.85. So they were roughly owed 3.4M. If they converted Friday for example 3.4M / (0.85 * 1.3125) = 3M shares, perhaps some converted earlier, perhaps some have not converted yet. But I think it is safe to assume somewhere between 2-3M shares will materialize out of that. So now we are up to 14-15M shares. The 20 DMA is 1 7/8 (11M / 1.875 = 5.8M) ~20M shares total. Like I said, Steve is perfectly aware of the situation and is exploring all possible options to keep the dilution to a minimum. Steve

To: Eleder2020 who wrote (17740)	8/17/1998 5:20:00 PM
From: janski	Respond to of 29386

The market is not blaming Ancor management for failing to speed up the adoption of FC. It is blaming them for: - failing to develop a product that will compete in that market once it develops - failing to develop relationships with larger companies to validate Ancor's development efforts - failing to build their image and market recognition - failing to manage their already scarce financies - failing to protect their current shareholders by financing via floorless convertibles And lastly: failing to give any signs that they even realize all of the above.