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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Greg McDaniel who wrote (13310)	7/23/1999 9:04:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 27311

Greg, that is quite common, the shares are registered for future conversion, they will not show in share count until converted. You can check if conversion occurred (and thus the floorless removed) by checking periodically with their transfer agent, they should have a daily count of the outstanding shares. The 8 MM shares are sufficient to cover the floorless at a price of $2/share, but if the price drops to $1/share a new S-3 for 16 MM shares might be issued and the share count will still be the same. Zeev