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

To: George Dawson who wrote (19884)	12/25/1998 7:27:00 PM
From: Ken Richard	Read Replies (2) \| Respond to of 29386

I believe I have heard that for the most part, they Reg D guys don't really hold anything long. For the most part, when they convert, they unload, (and in our case, probably by tendering the shorts). My prior tax question is still applicable, which restated in summary is this: If share prices rise above the shorts (that are against the box), is there a gain that has to be realized in the long shares (to be tendered to cover the short) when tendered at the appreciated price. Or, (since 1997) is the taxable event at the time the short against the box is made ???? Does anyone know ?