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

To: trendmastr who wrote (17948)	9/4/1998 7:38:00 PM
From: trendmastr	Respond to of 29386

p.s. - It's available at freeedgar.com (eom) tm

To: trendmastr who wrote (17948)	9/5/1998 12:55:00 AM
From: George Dawson	Read Replies (3) \| Respond to of 29386

More on the Death Spiral - this time from the SEC: "On August 26, 1998, there were issued and outstanding a total of 13,852,080 shares of Common Stock. If all of the convertible preferred stock which the Company has issued as of August 26, 1998 were converted into shares of Common Stock on the date hereof and if all warrants issued to the holders of Series B Preferred Stock ("Investor Warrants") and the Agent Warrants were exercised, there would be outstanding 25,416,147 shares of Common Stock. The Company has registered a total of 21,323,545 Shares hereunder for issuance upon conversion of the Series B and Series C Preferred Stock, the Investor Warrants and the Agent Warrants. The Company has registered shares in excess of the number of Shares currently issuable upon conversion of the Series B and Series C Preferred Stock and exercise of the Investor Warrants and the Agent Warrants, if all such conversions and exercises occurred on the date hereof, in an effort to ensure that a sufficient number of Shares are registered in the event the price of the Company's Common Stock decreases." and " Under the applicable conversion formulas of the Series B Preferred Stock and the Series C Preferred Stock, the number of shares of Common Stock issuable upon conversion is inversely proportional to the market price of the Common Stock at the time of conversion (i.e., the number of shares increases as the market price of the Common Stock decreases); and except with respect to certain redemption rights of the Company for the Preferred Stock, there is no cap on the number of shares of Common Stock which may be issued." Stunning exhibition of the big money in action. At least I got the most recent information on how many outstanding shares are out there. Why do I get the feeling the dilution is potentially much, much greater than is mentioned in the S-3? George D.