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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Rich Wolf who wrote (12631)7/1/1999 9:55:00 PM
From: Larry Brubaker  Read Replies (3) of 27311
 
<<Implicit in this discussion is that Valence can deliver the volumes Lev quoted in the last two interviews (30 million cells/year from the current lines 1-3; there's a fourth on the way in two months, *after* they get the cash from a secondary at a higher price).>>

Lines 1 through 3?

Line 1 produces volumes sufficient only for prototypes. Line 2 is only beginning to be put in production and requires substantial redesign and development before it can produce in volume.

Given these facts, and given their immediate need for capital, and their pending floorless financing, the idea of a secondary at a higher price seems pretty far-fetched to me.

But hey, what do I know? I base my information on the dated attorney disclaimers in the SEC filings. Course you guys have been talking about a secondary at higher prices since February. Been lots of shares sold since February, but only at lower prices.
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