VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Jeff S. who wrote (2413)	3/17/1998 9:29:00 AM
From: FMK	Read Replies (1) of 27311

Jeff, The SEC filing indicates that he exercised all the options at 5 1/16. Whether he had the cash at the moment or took out a loan, he is committed to pay for them. It appears the new stock cannot be sold until 1 or 2 years after it is paid for. His existing 1 million sh was put up as collateral so I don't believe it can be readily sold either. In any case, it would not make sense to sell for less to pay for new stock at 5 1/16 especially if he is paying interest on the loan. Sounds a little like having bought on margin! I don't think he would have done it if he believed the stock was headed lower!

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