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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: FMK who wrote (4948)11/13/1998 1:13:00 AM
From: Larry Brubaker  Read Replies (1) of 27311
 
FMK: <<If I remember, the financing package was discussed during the prior conference call. My interpretation is that Lev has not worried about it or had even thought much about it for a long time, as would be the case if he was sure of meeting the milestones.>>

C'mon Fred, do you really believe that Lev would be so certain they will have a material contract within 75 days he forgot all about the variable conversion option? After all, it was only a couple of weeks ago they registered 5.7 million shares for sale to make available for the conversion. $7.5 million worth of preferred shares divided by 5.7 million shares. You do the math.

If Lev is so certain they will have a material contract by 1/27, why couldn't he have provided a little more certainty to the owners of the company? By at least going on record that they have provided production samples to OEM's? ULBI reportedly said during their conference call they are producing samples for OEM testing from their automated line. Why couldn't Valence do this?
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