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

To: P. Ramamoorthy who wrote (14584)	9/15/1999 9:59:00 AM
From: John Curtis	Read Replies (2) \| Respond to of 27311

Ram: Further curious tactic is their choice to convert less than 50% of their 7500 shares of Preferred B. But no doubt about it, conversion is a good signal. Makes me think end of September is still good for their N.I. facility. Now let's see how today goes... John~

To: P. Ramamoorthy who wrote (14584)	9/15/1999 10:06:00 AM
From: kolo55	Read Replies (1) \| Respond to of 27311

That appears to be Monday's conversion price. Looks like CC made the partial conversion prior to noon Monday to get that price. I had calculated $4.46 as the price on Monday... This is incredibly bullish... it is possible that CC will convert the rest if the stock goes up today, and this would be the end of the death spiral worries. Another thing, this could indicate that CC was only short about 700,000 shares against the series B preferred... there could be a huge naked short position out there. Paul