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

To: Greg McDaniel who wrote (15516)	10/28/1999 3:27:00 PM
From: Bruce A. Thompson	Respond to of 27311

Greg, I have no idea. I went merrily down the tubes in 1998 with the likes of CTYS, aka CTYSC, aka CYYS, Now completely OOB. A hard lesson well learned. Their share price at the time of the first floorless financing was $37.50. I have never seen so many savy investors learn the hard way. That is why I and Zeev, and some others are sitting on the sidelines. It is cheaper than risking real $$ while we are waiting for something to happen. BT

To: Greg McDaniel who wrote (15516)	10/28/1999 3:30:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

Greg, I am aware of 3 other floorless financings that Castle Creek has done. SCUR, FIBR, and WSTL. SCUR fell from the $30s to the $3 range. FIBR fell from $12 to about $2 (if I recall correctly). WSTL is a more recent CC deal and I think Castle Creek is doing the "bouncy bouncy" with them right now (shorting around $9 and covering about $6.5 to $7). As Zeev has pointed out, ANCR is an example of a company that survived a floorless financing (although they did pay the price with substantial dilution) and whose stock recovered nicely. IMO, if VLNC has something to deliver (and soon) they should be able to recover from this without massive dilution. However, if they don't have something to show soon, I think we go much lower.