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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Pallisard who wrote (15153)10/8/1999 6:21:00 PM
From: kolo55  Read Replies (1) of 27311
 
Updated conversion information.

Doesn't seem like anyone wants to put up the conversion info today;
so I'll have to step into the breach.
(This is a particularly crucial time to review this information.)

Here are the last ten day closing bids and conversion prices
(note that the conversion price has remained virtually unchanged for
six straight days):

Date Closing Bid Conversion Price
27-Sep 5.0000(stale today) 5.1763
28-Sep 4.8125 5.0710
29-Sep 4.6250 4.9764
30-Sep 4.6250 4.9027
1-Oct 4.6250 4.8291
4-Oct 5.0625 4.8291
5-Oct 4.9688 4.8238
6-Oct 5.0625 4.8238
7-Oct 5.2188 4.8238
8-Oct 5.2188 4.8238

The conversion price will go up slightly Monday, unless the closing bid drops to 5.00,
as the Sep27 closing bid that became stale today, expires one minute before noon.
Will CC convert before noon to capture the lowest conversion price?

On Tuesday, the selling coalition must drive the closing bid to 4 13/16,
in order to prevent the conversion price from going up.
Will CC convert before noon Tuesday, after realizing their second
death spiral attempt has failed?

Then on Wednesday, Thursday, and Friday, next week, they have to drive the
closing bid each day to 4 5/8 to prevent a rising conversion price.
Essentially the lowest four days are lined up in a row, by Monday's close.

Paul
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