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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: kolo55 who wrote (15161)10/9/1999 2:38:00 PM
From: Larry Brubaker  Read Replies (1) of 27311
 
<<Granting options to high level new hires is usual practice in the high tech industry as part of the employment agreements.>>

That's true Paul. What I find noteworthy is that VLNC did not grant these options when the new hires were hired (and the stock price was at $7 and above). Rather, they waited until the stock price was 40% lower before they granted the options. Thereby lowering the exercise price of the options and increasing the resulting dilution.

By the way, once again you are putting words in the mouths of the bears. I have never said "Valence is running out of cash, and can't continue to operate." I have pointed out repeatedly that VLNC has negative working capital, and the nature of the way they raise money will provide a strong clue about the fundamentals of the company.

So far, I am still not impressed with how they are raising money, and therefore, I still remain comfortably on the sidelines.
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