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

To: FMK who wrote (6563)	1/1/1999 7:50:00 PM
From: Mark Johnson	Respond to of 27311

Zeev, you're not attacking the messenger are you? FMK has been nothing but civil to you. Remember I'm the name caller. Again you are coming from a point of ignorance. You don't know or could not imagine the whole story (nor can I). If you are uncomfortable with Valence you should move on to less speculative issues!

To: FMK who wrote (6563)	1/1/1999 7:54:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 27311

Fred, you make it extremely difficult to reason with you. September is the last months for which we have financial information, since then, hopefully we know exactly where financing activities have been, since all financing activities by publicly trading companies need to be filed with the SEC, pronto, no more of those Reg S of past years. We know what the financing activities were, the CC $7.5 MM, we also know, that there might be some money coming out of Berg and we know what are the conditions for real money coming out of IDB. There are no "count on me" type of sources, no hidden treasures, if there is more working capital, it comes either in form of equity or debt, period, in both cases, share holders would be notified as soon as the deal closed. Zeev

To: FMK who wrote (6563)	1/1/1999 8:02:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

Fred, the S-3 was filed on December 21. It says VLNC has negative working capital. This was filed in conjuction with the additional $7.5 million they raised. Anybody who can add and subtract knows VLNC's financial situation is precarious, but I will try again. Working capital as of September 30 = negative $2.5 million. Burn rate for fourth quarter at least $5.5 million = negative $8 million. Add $7.5 million and now negative working capital is only $500,000. This must be why the December 21 filing said they have negative working capital, right Fred? Or do you think the attornies just cut and pasted past statements about working capital in order to mislead investors?