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

To: FMK who wrote (4278)	9/28/1998 7:53:00 PM
From: jcox	Read Replies (2) \| Respond to of 27311

Dear Fred and All Todays Wall Street Journal on page C1 there's an article about convertible preferred shares. It's not very reassuring in that the negative aspects can be quite daunting. I'm sure Lev was confident we will meet the deadlines but I would think that was the only choice of financing available because of the high risk involved. It would have been more prudent to just float the new shares then to risk massive dilution. All in all it's hard to call this favorable financing except when considering the alternative closing the doors. Still long and hoping for the best John