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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: kolo55 who wrote (16750)12/7/1999 10:16:00 PM
From: Larry Brubaker  Read Replies (1) of 27311
 
Still wrong, Paul.

<<You post the section that applies to setting the conversion price if there was Dilutive financing... but not to the conditions that have to be satisfied before this section applies.>>

Wrong. I posted the section that applies to the warrant conversion price and the number of warrant shares, not the section that applies to the conversion price of the preferred shares. And the conditions to be satisfied were all included in my post.

<<Read it again.>>

Yes, you should do that Paul.

<<Why don't you answer this question as well? If the conversion price was reset, then why did the Series A and Series B preferred shares that have been converted to date, not reflect the reset conversion price?>>

Because we're talking about the warrants, Paul, not the convertible preferred shares. But there is also an anti-dilution clause in the section dealing with the convertible preferred shares. When its all said and done, there will also probably be more common shares from conversion of the preferred than you think.

<<Larry, you are a small time trader completely out of your league.>>

Gee Paul, I'd think you would have thanked me by now for helping you to understand your investment better, as I've done several times in the past. I guess even retired persons are not beyond childish insults.
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