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

To: Larry Brubaker who wrote (4974)	11/13/1998 11:53:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 27311

Lary, since that debenture has a ceiling of $6.03, they could very well be shorting into this rally getting their money back. If the stock stays above $6.03, they'll convert and deliver stock they acquire through conversion at $6.03. If the stock drops lower, they can start the spiral down by further shorting against the block. In the S-3, I could not find any good definition of what is a substantial order (to be received by Jan 27). Furthermore, "orders" come in a variety of colors, like "letter of intent" or similar animals. Does anyone knows where a more definitive description of this critical event is available? Zeev