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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: mooter775 who wrote (15361)10/22/1999 9:07:00 PM
From: Harold Hertzfeld  Read Replies (2) of 27311
 
Mooter,

I was told that CC was not allowed to own more than 5% of the outstanding common.

Hopefully, then, much or all of this new common stock was delivered against a short position they had established perhaps well above $6 /sh.

A Tax Question: Did they have the Preferred A long enough to claim a long term capital gain on the shares to be delivered against the short position?

And do you think that they are unhedged with the balance
of the B preferred? If you add the warrants they own to
the remaining common stock represented by the Pr B it would be a sizable bet by them that things are looking up.

Harold

PS I have enjoyed your posts in the past. Thanks.
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