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

To: Greg Hull who wrote (17956)	9/6/1998 10:45:00 PM
From: Bradley W. Price	Read Replies (1) \| Respond to of 29386

This has been a very expensive lesson in convertibles. (EOM) bp

To: Greg Hull who wrote (17956)	9/7/1998 6:47:00 PM
From: Greg Hull	Respond to of 29386

More observations from S-3 filing dated 9/4/98: 601 shares out of 900 shares have been converted from Series B Offering of 3/97. On 4/3/98 only 460 shares had been converted (from Proxy Statement dated 4/20/98). 120 shares out of 1100 shares have been converted from Series C Offering of 2/98. On 4/3/98 no shares had been converted (from Proxy Statement dated 4/20/98). On 8/26/98 there were 13,852,080 shares outstanding, versus 11,919,163 on 4/3/98. The 1,279 preferred shares outstanding are equivalent to 10.8M shares of common stock at today's conversion price. If all shares could and would be converted today (and warrants exercised), the total shares of common stock outstanding would be 25,416,147. Ancor has registered 21,323,545 shares to cover the conversions. As of 4/3/98 5,273,617 were reserved (from Proxy). All preferred shares currently issued must be converted by Feb. 2001. Enough for now, Greg