During 3 quarters of 2000 and three
quarters of 2001, West Highland Capital reported small long
positions
in ON2 consistent with the long/short strategy of having a short position
protected by
a smaller long one.
A history of West Highland's long
positions, from its SEC filings.
CUSIP $
Value # of shares
Q2 2000
ON2.COM INC COMMON
STOCK 68338A107
149,000 29100 SH
Q3 2000
ON2.COM INC COMMON
STOCK 68338A107
441,000 177100
SH
Q4 2000
ON2.COM INC COMMON
STOCK 68338A107
35,000 60800
SH
Q1 2001
ON2.COM
INC COMMON STOCK
68338A107 37,000 60800
SH
Q2 2001
ON2 TECH INC COMMON
STOCK 68338A107
53,000 122400
SH
Q3 2001
ON2 TECH INC COMMON
STOCK 68338A107
44,000 122400
SH
Blue Ridge
Capital held a long position in the second quarter of 2000 as
well.
Q2 2000
ON2.COM INC COMMON
STOCK 68338A107
1,198,000 233700 SH
Needless to say, Asensio never mentioned
these client positions when he commented about the
company to the SEC.