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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: P. Ramamoorthy who wrote (14584)9/15/1999 10:06:00 AM
From: kolo55  Read Replies (1) of 27311
 
That appears to be Monday's conversion price.

Looks like CC made the partial conversion prior to noon Monday to get that price. I had calculated $4.46 as the price on Monday...

This is incredibly bullish... it is possible that CC will convert the rest if the stock goes up today, and this would be the end of the death spiral worries.

Another thing, this could indicate that CC was only short about 700,000 shares against the series B preferred... there could be a huge naked short position out there.

Paul
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