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

To: kolo55 who wrote (4992)	11/13/1998 3:53:00 PM
From: Greg Smith	Read Replies (1) \| Respond to of 27311

The net cash reduction of only $1.7 mil was due simply to the fact that "The Company provided $12,512,000 net cash from financing activities" (i.e. they received funding from the sale of the preferred shares and the Berg loan.) Remember how astonished one CC questioner was when LD told him the financing proceeds WERE relected in the balance sheet? They still have only $6 mil in cash and a burn rate of about $6 mil per quarter, so that adds up to the end of the year. Obviously, they need to hit the milsetones.