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

To: kolo55 who wrote (6940)	1/10/1999 2:31:00 AM
From: Larry Brubaker	Respond to of 27311

Paul, I never said VLNC needs to immediately get to a positive working capital situation. I merely said they will need more money than the $7.5 million, even if they get a contact relatively soon. Even if you assume that none of their current liabilities is due for several months, I doubt that $7.5 million will carry them through to when their receipts equal expenditures. As I've said, this shouldn't be a big problem if they get a decent-sized contract relatively soon. Besides Lev's additional $7.5 million and the money from IDB, they could probably get more conventional financing for their working capital needs if they are shipping product. If they are thrown another curve ball by Mr. Murphy, getting more money may be another matter entirely.