VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: I. N. Vester who wrote (25471)	3/18/2002 10:40:49 PM
From: Larry Brubaker	of 27311

<<You're using 20/20 hindsight to insinuate malfeasance. What's the point? It's very easy to second guess all kinds of decisions based on 20/20 hindsight.>> Who said anything about malfeasance? I simply pointed out that VLNC had an existing deal with Berg in 2000, in which they could have sold shares to Berg at any time of their choosing, including several opportunities to sell him shares at a price of $20 or more. By the time they got around to selling Berg shares via a new deal at a discount to the market price on December 20, the $9 price at the time was a 52-week low. And the price DID noticibly dip in the days leading up to December 20. finance.yahoo.com <<Berg has poured millions and millions into the company without taking anything out, and he has nothing so far to show for it but a huge paper loss.>> That is simply incorrect. Berg took millions out of the company via the IPO. Far more than he ever put in intially. Furthermore, Berg is getting a nice 8% return on his $50 million loan. Without trying to go back and calculate everything, I'd say he certainly has put more in than he has taken out (unlike Lev Dawson). But to say he has "never taken anything out", and has "nothing to show for it" is simply a lie.

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