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

To: John Curtis who wrote (25440)	3/13/2002 1:11:25 PM
From: Greg Growth	Read Replies (1) \| Respond to of 27311

Feb Insider purchases: biz.yahoo.com Insider & restricted shareholder transactions reported over the last year Date Who Shares Stock Transaction 28-Feb-02 ROBERTS, BERT C JR Director 13,000 VLNC Purchased at $2.99/Share. Cost of $38,870. 27-Feb-02 ROBERTS, BERT C JR Director 45,000 VLNC Purchased at $3.15/Share. Cost of $141,750. 26-Feb-02 ROBERTS, BERT C JR Director * 35,000 VLNC Purchased at $2.96/Share. Cost of $103,600. 10-Aug-01 ROBERTS, BERT C JR Director * 4,000 VLNC Purchased at $5.80/Share. Cost of $23,204. 14-May-01 GODEVAIS, STEPHEN B President, Director, Chief Executive Officer 0 VLNC Initial Direct Holdings Statement 3-Apr-01 BERG, CARL E 10% Beneficial Owner, Director * 224,000 VLNC Purchased at $3.25 -- $3.27/Share. Cost of $732,000. 27-Mar-01 ROBERTS, BERT C JR Director 32,000 VLNC Purchased at $4.48 -- $4.75/Share. Cost of $146,542.

To: John Curtis who wrote (25440)	3/13/2002 11:08:45 PM
From: Larry Brubaker	Read Replies (2) \| Respond to of 27311

<<I guess that puts to bed certain rumors about another round of floorless, eh?>> Not exactly. I must have missed the part of the PR which said there is a floor price on these sales to Berg. Seems to me VLNC has done these Berg "equity lines of credit" in the past and that the stock price tends to fall right before he buys more shares. Coincidence?

To: John Curtis who wrote (25440)	3/14/2002 10:52:56 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 27311

But John, the way I read the following sentence in the release: "at a customary discount to market, in exchange for the amounts funded." This is a typical "leaky" floorless. RNTK had one, BPUR has just gone from $16 to $7/8 under the influence of its own leaky floorless. The conversion price is not fixed, it will be a "discount" to recent market price, as floorless as they come. One may want to make an argument that Berg will not attempt to "protect" himself wit shorting on the open market, but in most other cases, such leaky floorless have led to down spirals in prices. I would not be surprised if the next major even will be a reverse split of VLNC stock. I still consider this equity quite dangerous and you are right in being "comfy" on the sidelines. Zeev