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

To: Rich Wolf who wrote (13333)	7/23/1999 12:29:00 PM
From: David Penfield	Read Replies (2) \| Respond to of 27311

Further, the prominent financial institutions that Castle Creek regularly deals with would not touch them if they were indeed involved in the 'floorless bandit' games that involve offshore accounts and skirting of SEC regulations. LOL - What "prominent financial institutions" are you talking about?

To: Rich Wolf who wrote (13333)	7/23/1999 1:38:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 27311

Rich, you may be right, but something is a little "fishy" in the last 10K report (year ending March 1999). They carry both of the convertible, but they are carried at reduced values ($4.5 and $3.7 MM respectively), that led me last time I looked to assume there was some conversion, particularly in view of the fact that share count went up by 1.7 MM or so. However, rereading it now, they state quite clearly that both series are still fully outstanding (thus not converted). Do you know why these are carried at roughly 50% of their face value? Zeev