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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Larry Brubaker who wrote (6166)12/21/1998 3:04:00 PM
From: Bruce A. Thompson  Read Replies (1) of 27311
 
What does it all mean???

IMHO I see that there are caps to the # of shares convertible in the B's. However, it also says that when the caps are reached, the company must begin paying $500 per day for 5 days then 1% per day of the outstanding balance thereafter. That looks to me like 100% per quarter.

Looks to me like out of one frying pan and into another.

But what do I know?

Bruce
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