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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Larry Brubaker who wrote (10544)4/20/1999 8:16:00 PM
From: kolo55  Read Replies (4) of 27311
 
Latest S-3 tidbit.

You wrote:
On the other hand, maybe the SEC filings continue to be accurate (as they have always been) and all the internet hype about imminent production continues to be inaccurate (as it has always been).

Yep, SEC docs sometime contradict the theories on this thread. For example, thread readers should remember all the hype of how Castle Creek is converting their preferred and shorting Valence stock... How "Castle Creek can't lose" on their Valence investment.

Well today's filing contains this tidbit:
As of the date of this prospectus, we have 15,000 shares of preferred stock outstanding, 7,500 shares of which are Series A Preferred Stock and 7,500 shares of which are Series B Preferred Stock.

Castle Creek still hasn't converted any shares, and thus has a large net long position in Valence.

This is the same hypester that said the company ran out of cash on March 31... yet they are still doing business. Why? If you actually read the SEC filings, the one for the SepQ said they had enough cash to last through March 31 (which is not the same as "run out of cash" by March 31). The filing for the DecQ said the same thing. Yet they raised over $7M in between the filings.

The filings weren't wrong, but your interpretations were.

Paul

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