VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: kolo55 who wrote (15877)	11/10/1999 8:53:00 PM
From: Larry Brubaker	Read Replies (3) of 27311

<<Looks to me like the floorless threat is about to be removed, followed by the 'leaky floorless' theory being relegated to the scrap heap.>> We'll see. I noticed that they have once again moved back the date for the completion of the construction in progress to the end of FY 2000. In the last 10-Q, they had (for the first time) moved this date up to the end of the September quarter. Now it has been moved back for two more quarters, as the end of FY 2000 is the end of March, 2000. If so, they may be relegated to go back to their regular infusions of cash. Furthermore, capital expenditures this quarter were next to nothing. Since they said during the last conference call that they needed to purchase a considerable amount of additional equipment to get to the projected $76 million run rate, the lack of capital expenditures during this quarter suggests they still are some way away from this projected rate of production. Finally, Paul, you neglected to mention that the fixed rate for conversion of Berg's loan is $5.05. Not $7, which the bulls on this thread claimed VLNC did not want to sell shares for because that was too cheap.

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