VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: P. Ramamoorthy who wrote (25647)	11/5/2002 10:16:52 AM
From: Larry Brubaker	Read Replies (1) of 27311

<<Lower capital needs can help slow down the share dilution until they get PO's and generate earnings.>> Not unless they can reduce their burn rate from the current $9 million per quarter down to less than $5 million per quarter, because Berg's financing is limited to $5 million per quarter. So, they are reducing spending because they don't have the money to continue to burn $9 million per quarter. But in all likelihood, they will continue to need the maximum of $5 million per quarter allowed under the agreement with Berg. Particularly when you consider they need $1.1 million per quarter just to pay interest on the loans they aleady owe to Berg.

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