VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: FMK who wrote (4041)	9/1/1998 11:37:00 AM
From: Sophie's Choice	Read Replies (2) of 27311

lev dawson signed a "non-recourse" promissory note to Valence when he bought his last round of stock. Right at the time Valence was strapped for cash, running around trying to arrange financing, lev dawson returned to Valence and immediately got the company to "lend" him the $$$ to execute his options. Net result ... no cash for the company / lots of stock for lev .... backed by a non-recouse note. Now, please tell us how a non-recourse note (no cash) for stock options sold, serves the company and shareholder interest? lev dawson created a very self serving deal for himself that served his interests, not the company's needs. The good 'ol boy system is running Valence, with no regard for shareholder equity. For you to endorse this deal makes one wonder .... are you a behind the scene mouthpiece for the company? Who are you REALLY????

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