VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Herb Blair who wrote (4816)	11/11/1998 11:58:00 AM
From: lws	Read Replies (1) of 27311

Vis CC: moments later & without much reflection: My initial reaction to the CC is generally positive. Lev played it close to the chest as usual, but his tone was one of confidence that all was on track. One bit of odd evidence for his confidence was his lack of familiarity with the details of the 7/27 convertible preferred financing. It was a little disturbing to hear him (and his chief accountant) fumbling for the details of the variable price conversion provisions and the Jan 27th requirements, but the positive slant on this is that he must not be too worried. Indeed, he didn't seem too worried about cash, burn rates, negative working capital, etc. I presume he has substantive grounds for not being too worried. The only clear disappointment was that the product off the small cell line did not pass its test requirements in Sept. I gather he expects all this to be resolved by early December, though. All in all, the cc reinforced my confidence in Valence. I wouldn't be surprised to see a bit of profit-taking now, though. The situation for the next several months seems tailor-made for nimble traders. lws

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