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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Zeev Hed who wrote (13331)7/23/1999 12:23:00 PM
From: Rich Wolf  Read Replies (2) of 27311
 
Zeev, Castle Creek has not converted any of the preferred shares yet, as of the last 10K.

They are also restricted to selling/shorting only 30,000 shares per day (or 15% of the daily volume or the average daily volume over the last 5 days).

However, I believe it is largely the professional shorts that are responsible for the short position outstanding, not Castle Creek.

Further, the prominent financial institutions that Castle Creek regularly deals with would not touch them if they were indeed involved in the 'floorless bandit' games that involve offshore accounts and skirting of SEC regulations. These fictions are red herrings put forward by the professional shorts.
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