VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: wm sharp who wrote (2494)	3/25/1998 11:15:00 PM
From: Larry Brubaker	Read Replies (2) of 27311

William: The comment by the PR firm that VLNC has enough cash to last them through September doesn't make sense to me, unless their burn rate has declined substantially from previous levels. Looking at their 10-Q for the period ending December 28, VLNC's current assets were approximately $5.3 million greater than their current liabilities. They have been pretty consistently burning about $5 million per quarter. Therefore, assuming their historical burn rate, it would seem that they would be running low on cash right now. I assume they have raised some additional cash by insiders excercising options, but that would not seem to be enough to keep them going for 2 more quarters. What am I missing?

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