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

To: Tickertype who wrote (3262)	7/4/1998 11:15:00 AM
From: John Curtis	Read Replies (1) \| Respond to of 27311

Yah know, if VLNC monitor's this, and other, threads(and I know for a FACT the Financial Relations Board(FRB) does), then they got to be chuckling.....Not to make light of our commentary, but really, a tempest in a teapot? VLNC's an R&D outfit on the threshold of "commercialdom." Pure and simple. As such, at this stage in the game all information avenues are bound to be rife with speculations of alllll types. So be it. But speaking of that 10K. I know some folks(ahem) have been squealing over the nor-recourse L.D. situation. Using the net as a research window it's become clear to me(as a non-financial type) that non-recourse is used allll up and down the Wall Street food chain as an incentive gambit. Also, in this 10K there's the fact of L.D.'s ~900K '98 option grant with a strike price of $5.06, which vests in 19 months, rather than what I view as the industry norm of 4 years. Quite the incentive, THAT is, eh? Additionally, regarding financing, VLNC has in pocket 10 Million of preferred, NONE issued or outstanding, available for use. When you combine this with page 39 of the 10K's commentary that property, plant and equipment are worth $31 Million......well.......if VLNC's corporate pronouncements that the laminate products are worthy, then me thinks financing shouldn't be all that tough, eh? But I'll bow to the more financially astute who can show me specifically where my reasoning falters. So it goes on this 4th of July.....by the way, here's a small poem I wrote once in honor to the 4th: AMERICANS We are a pure-bred mixed breed mutt of a people. We succeed when most others have failed. The only problem is, we create our own hell. Nine tenths inspiration, one tenth shame. We cannot yet begin to say our own name. We are the Red one, the White one, the Yellow, Black and Brown. Blindly grappling with the future, a future better than it is now. If we can but take our faces out of ME, and concentrate on WE. Then all might one day be better, still there is no guarantee. It's up to each and every one of us, each I in that WE. And whatever God decrees will be, will be. Happy 4th everybody!! John~