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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Larry Brubaker who wrote (12486)6/29/1999 10:47:00 AM
From: Rich Wolf  Read Replies (3) of 27311
 
No Larry, the short term price swings don't bother me. I don't consider it 'tanking' at all. People who bought on the runup in fear/anticipation of a seminal announcement are now probably guessing they have a least a month (and they may be right or wrong), and are taking some money back off the table. I expect we go back to the rolling stock pattern.

I would bring to your attention that the new investor who paid $3M cash to Valence for shares at $6.24 ($3M/480824) was not uncomfortable about the 'impending floorless.' I would assume he was provided confidential information about the company's production status and contract negotiations, and believes that events will come to pass this month that will make his investment profitable.

When such events come to pass, raising the $25M will be easy, and that's why the shelf registration was prepared.

Things are progressing well. The new cells are 50% better than the competition's, and have been provided for evaluation well ahead of what any of us anticipated. Hiring continues apace, and Lev indicated they were surprised by the size and timing of both the Hanil and Alliant orders. He may be producing for another contract already on line 1 (laptop cells), and now he needs to hire and train additional workers sooner than the thought. Those are good problems to have. ;-)
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