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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Larry Brubaker who wrote (9753)3/23/1999 9:20:00 PM
From: Zeev Hed  Read Replies (2) of 27311
 
Larry, the warrants "have been paid for" alright, but the shares (895,000 or 985,000 depending which of the two numbers from their recent 10Q you believe) will be paid for only when the warrants are exercised, and then VLNC will absolutely get between $6 and $6.7 MM for these shares. The warrants run, I believe to 2003, so VLNC may not see that money until they do not really need it (if FMK is right and within a year VLNC is starting to throw serious cash to the bottom line).

Zeev
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