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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: FMK who wrote (6652)1/3/1999 1:31:00 PM
From: Larry Brubaker  Read Replies (1) of 27311
 
More of what you were "told" by your infamous sources, Fred?

If Berg is so willing to keep pumping money into Valence why did he allow them to sign a floorless fianancing deal in the first place and risk massive dilution of all those shares he has? Why didn't he just lend them the money.

Why is the additional $7.5 million on his line of credit still conditioned on VLNC meeting milestones?

As far as the "facing bankruptcy" both July and December of this year, VLNC's working capital situation was far enough in the hole that in both instances, their SEC filings stated they had sufficient working capital to carry them for only a matter of weeks. They also state VLNC has pursued capital equipment reductions (selling assets). These comments are not empty conjecture for the sake of argument, they are based on verifiable facts, unlike your empty conjectures.

They now have $7.5 million more so the bankruptcy door has been pushed back for a few months. If they ship $4 million relatively soon, they should be able to slam the door of bankruptcy for good. But stop trying to mislead people, Fred, your credibility wears thinner with each such comment.

Finally, why do you keep refering to the Castle Creek deal as a loan? It is not a loan. It is an equity investment that results in dilution of shares. 3 million shares best case. An unlimited number worst case.
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