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

To: da_cheif™ who wrote (26165)	12/23/2003 10:59:02 AM
From: MGV	Read Replies (1) \| Respond to of 27311

You are the pot calling the kettle black and are too jaded to realize it. The only posts left on this board are pockmarked by the shoe salesman's idiot banter.

To: da_cheif™ who wrote (26165)	12/23/2003 11:12:05 AM
From: P. Ramamoorthy	Read Replies (1) \| Respond to of 27311

News today! The Final $5Million draw down today. Berg's 401K plan is getting pretty rich. This drawdown takes care of Jan-Mar 2004 quarter. VLNC still has been $14Million in funding from Berg, which should take care of two quarters plus something left. By Oct-Dec quarter has to be the cashflow breakeven event. Cashflow breakeven means that VLNC would not need to borrow or sell stocks. If, during 2004, the price goes above $6.38 or so, Riverview preferred stock will be forced to convert. Ram Form 8-K for VALENCE TECHNOLOGY INC ----------------------------------- 23-Dec-2003 Other Events ITEM 5. OTHER EVENTS AND REQUIRED FD DISCLOSURE. On December 22, 2003, Registrant drew down $5 million for the third fiscal quarter of 2003 from its equity financing commitment with Berg & Berg Enterprises, LLC, an affiliate of Carl Berg, a director and stockholder of Registrant. The proceeds will be used to fund corporate operating needs and working capital. On December 19, 2003, Berg & Berg assigned its rights under the equity commitment to Mr. Berg's 401(k) plan. Under the terms of the equity commitment, Registrant issued to Mr. Berg's 401(k) plan 1,525,506 shares of its restricted common stock in a private placement transaction exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended. Mr. Berg's 401(k) plan purchased these shares at a 15% discount to the average closing price of the stock for the five days prior to the purchase date, or approximately $3.28 per share. Under Rule 144 of the Securities Act, these shares are restricted from being traded by Mr. Berg's 401(k) plan for a period of one year from the date of issuance, unless registered, and thereafter may be traded only in compliance with the volume restrictions imposed by this rule.