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

To: Eleder2020 who wrote (17930)	9/3/1998 2:30:00 AM
From: Kerry Lee	Read Replies (1) \| Respond to of 29386

You are correct about Reg D Series B guys shorting against the box ( preferred shares ). They are the primary reason behind the huge increase in short interest last month. This was confirmed to me last week by an Ancor official. As of last week, the Series B guys had under $3 million worth of convertible preferred still to convert and if memory serves me correct, there is approx $5 million in total Reg D left to convert as of 1 week ago. I do not know how much of the past week's trading volume was Reg D conversion. Also, based on the fact that Series C guys are held to converting a maximum of 15% per month, the total shares outstanding including the impact of these convertible preferred would be somewhere between 16 and 17 million shares at the end of October, if you are trying to calculate the market valuation of ANCR.

To: Eleder2020 who wrote (17930)	9/3/1998 3:15:00 AM
From: Fang Li	Read Replies (1) \| Respond to of 29386

I still don't understand what Ancor has been doing. They have decided to leave LAN business, and all of a sudden, there is order on LAN side of business. This market may be huge as we have seen order from IGS, Boeing, oil company, etc.. On SAN side, MK II has not made a penny. Why kill the cow who is still producing some life saving milk? The management may have trouble to explain this. From the news release, I do see a possibility of replacing the CEO or some kind of management change. I am sure that some people out there know more than us. The price movement of the stock is actually telling us that bad news is going to follow. We Ancor longs have been experienced this too many time. By the way, I haven't seen $1.9M news on their webpage yet. I just hope that they can get all their bad news out and tell us what they are going to do and how they are going to do it through a letter to shareholder or something in that nature.