VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Zeev Hed who wrote (9585)	3/20/1999 2:32:00 PM
From: kolo55	Read Replies (2) of 27311

Try again Zeev. You wrote: Paul, I am afraid you may be wrong on that issue. When the balance sheet shows $5.9 MM in preferred and the number of shares then is 25.5 MM (10 q of 11/1/98) and the number of shares used in calculations of earnings (loss) is still under 25.5, you know that the $5.9 MM in preferred is not yet counted in the number of shares. My response:The balance sheet shows the assets and liabilities (claims against assets) held by the company. The balance sheet should show the preferred shares. The income statement should show all the shareholders division of income (loss). Just because the preferred shares are listed on the balance sheet, doesn't mean they aren't included in the share count used in the income statement. Again, I repeat, the share count includes all convertible securities that are convertible into common shares at a price lower than the current common share price. It also includes options and warrants that are in the money. Any really experienced investor in high tech stocks, where these securities are commonly used, should understand this. Paul

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