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

To: Larry Brubaker who wrote (14630)	9/16/1999 10:48:00 AM
From: Rich Wolf	Read Replies (2) \| Respond to of 27311

Larry, as I just stated: if you read the SEC filings, the loophole regarding CC's 'beneficial ownership' is that they are considered beneficial owners of unconverted preferreds and/or unexercised warrants only to the extent that any conversion or exercise of those would allow them to hold up to 4.9% of the common. So they could be holding common right now, up to 4.9% of the float's worth, and not have had to report. This, even though if you add up all the preferreds and warrants they total well over 10% of the float. As I've stated many times, this loophole flies in the face of the INTENT of the SEC regs regarding definition of beneficial ownership and requiring reporting of changes thereof.