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

To: Jacques Tenzel who wrote (26029)	6/7/2003 1:26:59 PM
From: George8	Read Replies (3) \| Respond to of 27311

Jacques: biz.yahoo.com With the addition of the recent placement of conv. preferred of $10M at $4.25/share, what are the VLNC's total diluted outstanding shares? Does anybody have a good count of it? Thanks in advance, George

To: Jacques Tenzel who wrote (26029)	6/10/2003 1:29:27 PM
From: Jacques Tenzel	Read Replies (1) \| Respond to of 27311

Valence Secures Financial Commitments to Reach Cash Flow Breakeven biz.yahoo.com Tuesday June 10, 12:59 pm ET Berg & Berg Grants Additional $10 Million Commitment AUSTIN, Texas--(BUSINESS WIRE)--June 10, 2003--Valence Technology Inc. (Nasdaq:VLNC - News), a leader in the development and commercialization of Saphion(TM) technology and Lithium-ion polymer rechargeable batteries, today announced that it has arranged financial commitments that the Company expects will allow it to achieve cash flow breakeven based on its current business plan. Berg & Berg Enterprises, an affiliate of Carl Berg, a director and major shareholder in the Company, has waived the operating milestone conditions under the Berg & Berg equity financing(a). As a result of this waiver, the Company will have continued access to the $10 million remaining on the existing equity line of credit. In a separate arrangement, Berg & Berg has committed to provide the Company an additional $10 million in 2004. The commitment is conditioned upon negotiation and execution of definitive documents and any necessary shareholder approval under the rules of the NASDAQ SmallCap Market. This issuance will be on competitive terms, which will be finalized as part of the definitive documents. "Our recent $10 million private placement, the above waiver and the additional financing commitment from Berg & Berg provides us with access to $30 million of capital," commented Stephan Godevais, chairman and CEO of Valence. "One of our goals over the past year has been to reach cash flow breakeven, and we believe that these funding arrangements will enable us to achieve this goal." ----------------------------- Happy Investing.....Jacques