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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Rich Wolf who wrote (13333)7/23/1999 1:38:00 PM
From: Zeev Hed  Read Replies (1) of 27311
 
Rich, you may be right, but something is a little "fishy" in the last 10K report (year ending March 1999). They carry both of the convertible, but they are carried at reduced values ($4.5 and $3.7 MM respectively), that led me last time I looked to assume there was some conversion, particularly in view of the fact that share count went up by 1.7 MM or so. However, rereading it now, they state quite clearly that both series are still fully outstanding (thus not converted). Do you know why these are carried at roughly 50% of their face value?

Zeev
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