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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (92)	10/5/1998 1:25:00 PM
From: George Dawson	Read Replies (1) \| Respond to of 1438

Zeev, Here are the details you requested: 1. Total shares outstanding are 13,852,080 as of August 26, 1998 - up from 11.9M the previous quarter. 2. The company registered a total of 21,323,545 shares to cover the conversions of of Series B and C preferred stock. As of 9/4/98, 601 of 900 shares of Series B were converted (460 had converted the previous quarter) and 120 of 1100 Series C conversions (none the previous quarter). That's about $3M of Series B and $8M of the Series C left to convert. Someone posted revised numbers that the total convversion left may be $3M of the Series B and $2M of the Series C - so there is wide variance in these numbers. 3. The total short position by month - May = 583,210, June = 708,320, July = 850,834, and August = 1,386,283. 4. Formula for the conversion price is: Series B: average closing bid prices for the five preceding days x 0.85. Series C: average of the three lowest closing bid prices for seventeen preceeding trading days with a limit of 15% per month. The current stock price is 1 9/32. Thanks, George D.

To: Zeev Hed who wrote (92)	10/8/1998 1:32:00 PM
From: George Dawson	Read Replies (2) \| Respond to of 1438

Zeev, Some additional information on ANCR, the short position for September was released. The total short position by month - May = 583,210, June = 708,320, July = 850,834, August = 1,386,283, and September = 1,697,322. George D.