<PAGE> PAGE 1
000 A000000 03/31/97
000 C000000 0000081443
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 ALLIANCE QUASAR FUND, INC.
001 B000000 811-01716
001 C000000 2013194120
002 A000000 500 PLAZA DRIVE
002 B000000 SECAUCUS
002 C000000 NJ
002 D010000 07094
003 000000 N
004 000000 N
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007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 ALLIANCE CAPITAL MANAGEMENT L.P.
008 B000001 A
008 C000001 801-32361
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10105
010 A000001 ALLIANCE CAPITAL MANAGEMENT L.P.
010 B000001 801-32361
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10105
011 A000001 ALLIANCE FUND DISTRIBUTORS, INC.
011 B000001 8-30851
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10105
012 A000001 ALLIANCE FUND SERVICES, INC.
012 B000001 84-0001187
012 C010001 SECAUCUS
<PAGE> PAGE 2
012 C020001 NJ
012 C030001 07094
013 A000001 ERNST & YOUNG, LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10172
014 A000001 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
014 B000001 8-00017574
014 A000002 PERSHING
014 B000002 8-00017574
014 A000003 AUTRONET
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015 A000001 STATE STREET BANK AND TRUST AND CO.
015 B000001 C
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015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 52
019 C000000 ALLIANCECA
020 A000001 SMITH BARNEY INC.
020 B000001 13-1912900
020 C000001 179
020 A000002 SALOMON BROTHERS INC.
020 B000002 13-3082694
020 C000002 152
020 A000003 MONTGOMERY SECURITIES
020 B000003 13-2638166
020 C000003 137
020 A000004 MORGAN STANLEY AND CO., INC.
020 B000004 13-2655998
020 C000004 88
020 A000005 BROWN, ALEX & SONS, INC.
020 B000005 52-1319768
020 C000005 87
020 A000006 CS FIRST BOSTON CORP.
020 B000006 13-3147131
020 C000006 81
020 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH
020 B000007 13-5674085
020 C000007 68
020 A000008 GOLDMAN, SACHS & CO.
020 B000008 13-5108880
020 C000008 54
020 A000009 BEAR, STEARNS & CO., INC.
020 B000009 13-3299429
020 C000009 48
020 A000010 NATWEST SECURITIES CORP.
020 C000010 40
<PAGE> PAGE 3
021 000000 1352
022 A000001 AUBREY LANSTON
022 B000001 13-5552129
022 C000001 2504522
022 D000001 17865
022 A000002 STATE STREET BANK & TRUST CO.
022 B000002 04-1867445
022 C000002 63271
022 D000002 0
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022 B000003 13-5108880
022 C000003 31533
022 D000003 15704
022 A000004 MERRILL LYNCH, PIERCE, FENNER & SMITH
022 B000004 13-5674085
022 C000004 27095
022 D000004 16801
022 A000005 PRUDENTIAL SECURITIES INC.
022 B000005 22-2347336
022 C000005 31515
022 D000005 878
022 A000006 BROWN, ALEX & SONS, INC.
022 B000006 52-1319768
022 C000006 15856
022 D000006 9861
022 A000007 SMITH BARNEY INC.
022 B000007 13-1912900
022 C000007 11792
022 D000007 10695
022 A000008 MORGAN STANLEY AND CO., INC.
022 B000008 13-2655998
022 C000008 18363
022 D000008 1791
022 A000009 SALOMON BROTHERS INC.
022 B000009 13-3082694
022 C000009 12219
022 D000009 5934
022 A000010 FRIEDMAN, BILLINGS, RAMSEY & CO., INC.
022 B000010 52-1630477
022 C000010 7798
022 D000010 10169
023 C000000 2856280
023 D000000 169328
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
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<PAGE> PAGE 4
025 D000008 0
026 A000000 N
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030 A000000 2314
030 B000000 4.25
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<PAGE> PAGE 5
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<PAGE> PAGE 6
054 E000000 N
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
074 V010000 23.97
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077 N000000 N
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080 A000000 ICI MUTUAL INSURANCE COMPANY
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<PAGE> PAGE 10
086 F010000 0
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SIGNATURE CATHY WHITE
TITLE ASST VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000081443
<NAME> ALLIANCE QUASAR FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> ALLIANCE QUASAR FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> OCT-01-1996
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 548,157,896
<INVESTMENTS-AT-VALUE> 564,624,272
<RECEIVABLES> 5,998,571
<ASSETS-OTHER> 11,320,322
<OTHER-ITEMS-ASSETS> 0
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<TOTAL-LIABILITIES> 5,552,879
<SENIOR-EQUITY> 50,223
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<SHARES-COMMON-STOCK> 11,060,119
<SHARES-COMMON-PRIOR> 8,231,151
<ACCUMULATED-NII-CURRENT> (2,764,785)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 18,225,148
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 16,465,226
<NET-ASSETS> 576,390,286
<DIVIDEND-INCOME> 598,107
<INTEREST-INCOME> 1,151,647
<OTHER-INCOME> 0
<EXPENSES-NET> (4,514,539)
<NET-INVESTMENT-INCOME> (2,764,785)
<REALIZED-GAINS-CURRENT> 21,681,343
<APPREC-INCREASE-CURRENT> (23,995,979)
<NET-CHANGE-FROM-OPS> (5,079,421)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (35,781,299)
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<NUMBER-OF-SHARES-SOLD> 5,759,337
<NUMBER-OF-SHARES-REDEEMED> (4,268,369)
<SHARES-REINVESTED> 1,338,000
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 4,515,000
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</TABLE>
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<NAME> ALLIANCE QUASAR FUND, INC.
<SERIES>
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<NAME> ALLIANCE QUASAR FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> OCT-01-1996
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 548,157,896
<INVESTMENTS-AT-VALUE> 564,624,272
<RECEIVABLES> 5,998,571
<ASSETS-OTHER> 11,320,322
<OTHER-ITEMS-ASSETS> 0
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<TOTAL-LIABILITIES> 5,552,879
<SENIOR-EQUITY> 50,223
<PAID-IN-CAPITAL-COMMON> 544,414,474
<SHARES-COMMON-STOCK> 10,412,615
<SHARES-COMMON-PRIOR> 4,305,385
<ACCUMULATED-NII-CURRENT> (2,764,785)
<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
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<INTEREST-INCOME> 1,151,647
<OTHER-INCOME> 0
<EXPENSES-NET> (4,514,539)
<NET-INVESTMENT-INCOME> (2,764,785)
<REALIZED-GAINS-CURRENT> 21,681,343
<APPREC-INCREASE-CURRENT> (23,995,979)
<NET-CHANGE-FROM-OPS> (5,079,421)
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<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (23,349,486)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,699,038
<NUMBER-OF-SHARES-REDEEMED> (1,398,283)
<SHARES-REINVESTED> 806,475
<NET-CHANGE-IN-ASSETS> 205,561,096
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,559,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,515,000
<AVERAGE-NET-ASSETS> 169,194,734
<PER-SHARE-NAV-BEGIN> 26.13
<PER-SHARE-NII> (0.19)
<PER-SHARE-GAIN-APPREC> 0.24
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (4.11)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 22.07
<EXPENSE-RATIO> 2.35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000081443
<NAME> ALLIANCE QUASAR FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> ALLIANCE QUASAR FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
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<PERIOD-START> OCT-01-1996
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 548,157,896
<INVESTMENTS-AT-VALUE> 564,624,272
<RECEIVABLES> 5,998,571
<ASSETS-OTHER> 11,320,322
<OTHER-ITEMS-ASSETS> 0
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<TOTAL-LIABILITIES> 5,552,879
<SENIOR-EQUITY> 50,223
<PAID-IN-CAPITAL-COMMON> 544,414,474
<SHARES-COMMON-STOCK> 3,023,547
<SHARES-COMMON-PRIOR> 1,091,974
<ACCUMULATED-NII-CURRENT> (2,764,785)
<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
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<INTEREST-INCOME> 1,151,647
<OTHER-INCOME> 0
<EXPENSES-NET> (4,514,539)
<NET-INVESTMENT-INCOME> (2,764,785)
<REALIZED-GAINS-CURRENT> 21,681,343
<APPREC-INCREASE-CURRENT> (23,995,979)
<NET-CHANGE-FROM-OPS> (5,079,421)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (5,648,782)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,835,543
<NUMBER-OF-SHARES-REDEEMED> (1,053,698)
<SHARES-REINVESTED> 149,728
<NET-CHANGE-IN-ASSETS> 205,561,096
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 61,636,073
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,559,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,515,000
<AVERAGE-NET-ASSETS> 45,316,189
<PER-SHARE-NAV-BEGIN> 26.14
<PER-SHARE-NII> (0.19)
<PER-SHARE-GAIN-APPREC> 0.23
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (4.11)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 22.07
<EXPENSE-RATIO> 2.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000081443
<NAME> ALLIANCE QUASAR FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> ALLIANCE QUASAR FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> OCT-02-1996
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 548,157,896
<INVESTMENTS-AT-VALUE> 564,624,272
<RECEIVABLES> 5,998,571
<ASSETS-OTHER> 11,320,322
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 581,943,165
<PAYABLE-FOR-SECURITIES> 3,593,076
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,959,803
<TOTAL-LIABILITIES> 5,552,879
<SENIOR-EQUITY> 50,223
<PAID-IN-CAPITAL-COMMON> 544,414,474
<SHARES-COMMON-STOCK> 615,120
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (2,764,785)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 18,225,148
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 16,465,226
<NET-ASSETS> 576,390,286
<DIVIDEND-INCOME> 598,107
<INTEREST-INCOME> 1,151,647
<OTHER-INCOME> 0
<EXPENSES-NET> (4,514,539)
<NET-INVESTMENT-INCOME> (2,764,785)
<REALIZED-GAINS-CURRENT> 21,681,343
<APPREC-INCREASE-CURRENT> (23,995,979)
<NET-CHANGE-FROM-OPS> (5,079,421)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (312,701)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 608,538
<NUMBER-OF-SHARES-REDEEMED> (6,741)
<SHARES-REINVESTED> 13,323
<NET-CHANGE-IN-ASSETS> 205,561,096
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 61,636,073
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,559,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,515,000
<AVERAGE-NET-ASSETS> 2,729,740
<PER-SHARE-NAV-BEGIN> 27.82
<PER-SHARE-NII> (0.04)
<PER-SHARE-GAIN-APPREC> 0.33
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (4.11)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 24.00
<EXPENSE-RATIO> 1.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
[DESCRIPTION]Report of 10f-3 Transactions
Securities Purchases in Underwritings Involving
Transactions with Donaldson, Lufkin, & Jenrette Securities Co
Subject to Rule 10f-3 Under the Investment Company Act of 1940
ALLIANCE QUASAR FUND
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD SEPT 1, 1996 THROUGH NOV 30, 1996
<CAPTION>
Total
Shares Shares % of Issue Shares
Date Shares % of FundPrice perPurchased by Issued Purchased Held
Security PurchasedPurchasedAssets Share Fund Group (000) By Group Broker(s) 11/30/96
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Cymer Inc 09/18/96 2,500 0.01% $9.50 12,500 3,340 0.37% Morgan Stanley 0
Document Sciences Corp 09/20/96 4,200 0.01% $12.00 20,500 2,300 0.89% C.J. Lawrence/Deuts0
Technology Modeling Assocs09/20/96 100 0.00% $12.00 19,000 3,000 0.63% Morgan Stanley 0
Technology Modeling Assocs09/20/96 3,700 0.01% $12.00 19,000 3,000 0.63% Lewco Secs Agent 0
Cross Continent Auto Retai09/23/96 82,200 0.32% $14.00 129,200 3,675 3.52% Morgan Stanley 0
Cross Continent Auto Retai09/23/96 500 0.00% $14.00 129,200 3,675 3.52% Legg Mason Wood Wal0
American Residential Svsc 09/24/96 7,900 0.03% $15.00 12,600 4,200 0.30% Smith Barney Inc 0
Abercrombie and Fitch Co 09/25/96 4,500 0.02% $16.00 44,300 7,000 0.63% J.P. Morgan 0
Abercrombie and Fitch Co 09/25/96 23,600 0.10% $16.00 44,300 7,000 0.63% J.P. Morgan 0
Tag Heuer Intl Sa 09/26/96 90,000 0.46% $19.55 140,200 25,050 0.56% Smith Barney Inc 0
Orckit Communications LTD 09/27/96 5,500 0.02% $16.00 25,100 3,300 0.76% Brown (Alex) + Sons0
Intelligroup Inc 09/27/96 7,600 0.02% $10.00 40,100 8,170 0.49% Cowen + Co 0
Advanced Fibre Communicati09/30/96 10,100 0.07% $25.00 44,300 4,500 0.98% Morgan Stanley 0
Culligan Wtr Technologies 10/07/96 90,500 0.86% $37.63 222,100 4,995 4.45% Goldman Sachs 0
Culligan Wtr Technologies 10/07/96 35,000 0.33% $37.63 222,100 4,995 4.45% Clearly, Gull & Rei0
Trusted Information Sys In10/10/96 10,000 0.03% $13.00 49,000 3,400 1.44% J.P. Morgan 0
Superior Consultant Inc 10/10/96 900 0.00% $16.00 4,300 2,500 0.17% Blair, William, and0
Sabre Group Hldgs Inc 10/10/96 55,100 0.38% $27.00 271,500 20,200 1.34% Goldman Sachs 0
White Pine Software Inc 10/11/96 17,200 0.04% $9.00 82,200 3,000 2.74% Cowen + Co 0
XL Connect Solutions Inc 10/17/96 5,900 0.02% $15.00 29,800 2,900 1.03% Brown (Alex) + Sons0
Wild Oats Mkts Inc 10/22/96 9,900 0.06% $25.00 15,400 1,680 0.92% Montgomery Securiti0
Cybermedia Inc 10/23/96 6,500 0.03% $16.00 31,100 2,500 1.24% Lewco Secs Agent 0
Stage Stores Inc 10/24/96 15,000 0.06% $16.50 54,500 11,000 0.50% Invemed Assocs 0
Infinity Finl Technology I10/25/96 2,900 0.01% $16.00 14,000 2,690 0.52% Goldman Sachs 0
Dominick's Supermarkets In10/29/96 14,600 0.07% $18.00 24,200 8,000 0.30% BT Securities 0
Dominick's Supermarkets In10/29/96 1,000 0.00% $18.00 24,200 8,000 0.30% Salomon Brothers In0
Ingram Micro Inc 10/31/96 31,600 0.14% $18.00 133,700 20,000 0.67% Morgan Stanley 0
Nu Skin Asia Pac Inc 11/21/96 26,400 0.14% $23.00 44,100 9,100 0.48% Merrill Lynch Pierc0
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD DECEMBER 1, 1996 THROUGH FEBRUARY 28, 1997
<CAPTION>
Total
Date Shares % of FundPrice perPurchased by Issued Purchased Held
Security PurchasedPurchasedAssets Share Fund Group (000) By Group Broker(s) 02/28/97
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Doncasters PLC 01/29/97 46,500 0.14% $16.50 79,600 8,000 1.00% CS First Boston Cor288,400
Silgan Holdings Inc 02/14/97 80,200 0.27% $20.00 142,000 4,500 3.16% Goldman Sachs 296,200
Vail Resorts Inc 02/03/97 221,000 0.85% $22.00 309,600 12,100 2.56% Bear, Stearns Secur0
</TABLE>
1-Purchase may not exceed 3% of Fund's Total Assets.
2-Purchases by all Alliance Funds may not exceed the greater of (i) 4% of
the principal amount of the offering or (ii) $500,000 in principal amount,
but in no event may exeed 10% of the principal amount of the offering.