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

To: Larry Brubaker who wrote (2675)	4/16/1998 4:45:00 PM
From: John Curtis	Respond to of 27311

Nope, and if you look at the URL it looks like it fell off a cliff and then "flopped" around for the remainder of the day. So I guess we'll see tomorrow...... iqc.com John~

To: Larry Brubaker who wrote (2675)	4/16/1998 4:51:00 PM
From: DKR	Respond to of 27311

Just a thought about insider selling; Reed, Masuda, Brodd and Larkin all reported sales in the first quarter. I now believe that these may have been "cashless" option transactions. Officers of public companies who do not have the funds available to exercise options can exercise and immediately sell the stock without putting up any cash. (I have done this before.) So the stock Larkin sold was probably the result of an option transaction (obviously these options were in-the-money) and is in keeping with the reported ninety day period to exercise after leaving and is under the 14,500 limit from the 1990 option agreement. And it also makes sense for unemployed people to be short of the cash necessary to exercise in a more traditional manner. If this is the case I am far less concerned than I once was about insider selling.