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

To: taLuis who wrote (2379)	3/8/1998 1:17:00 PM
From: Tmoore	Respond to of 27311

Luis, I think all of us here are hoping we are not sitting on dead money also. I have increased my position twice in the last month. When VLNC announces any OEM contracts this is going to be a very fun spot to be. Looks like June is going to be the answer. (good or bad) TMoore-

To: taLuis who wrote (2379)	3/8/1998 4:53:00 PM
From: Larry Brubaker	Read Replies (2) \| Respond to of 27311

Luis: As someone who sold during the last conference call, I continue to watch VLNC with interest. Personally, I think the market is saying there is no hurry to jump back in, although the higher volume on Friday was interesting. I don't see dead money being much of an issue with the stock. Presuming they arrange financing at reasonable terms, and announce successful scale-up in production and OEM contracts, the stock should make a nice move. If the above events don't happen in the next few months, I also expect the stock to make a big move, but not in the right direction. Let's face it, this stock is a big risk right now. The company had $5 million of working capital left at the end of the 4th quarter, and burns about $5 million per quarter. Option conversions and a PP with Carl Berg have probably helped out the cash position somewhat, but the company has to be running out of money. The company mentioned debt financing at the conference call, but saying it is a possibility at a conference call and signing on the dotted line are two different things. Red Chip recommended to play it safe after the conference call, and that is what I am doing. I am waiting for the market or the fundamentals to say otherwise.