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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: kolo55 who wrote (9590)3/20/1999 2:42:00 PM
From: Larry Brubaker  Read Replies (1) of 27311
 
Try again, Paul. There is no way the share count includes all of the common stock issuable upon conversion of the preferred shares. VLNC has 25.4 million shares outstanding before any preferred shares were issued. Under the best case scenario (fixed conversion price) there will be 2.5 million additional shares issued $15 million divided by $6.03. Therefore, if these shares were counted, there would be at least 27.9 million shares in the share count. And this does not count more than 800,000 warrants that are in the money.

Any really experienced investor should be able to add and subtract share counts.
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