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

To: Rich Wolf who wrote (8176)	2/11/1999 1:39:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

Rich, my discussion of the financial situation was very matter-of-fact. I made no reference to the money disappearing into a sinkhole. I simply described how close VLNC was to being completely broke before Castle Creek provided the 2nd $7.5 million. And remember, this new $7.5 million was only provided under terms at which Castle Creek cannot lose. They win if the price goes up. They win if the price goes down. I do not consider the terms under which the most recent financing was issued as signalling that VLNC is now a sure bet. If you are right and VLNC is hurtling headlong into full-scale production, the next financing should reflect this status. If I see new financing on more favorable terms, I would most likely join the party. If I see more floorless junk, I'll be content to wait and watch. Meanwhile, as wonderful as you guys paint the picture, the price remains below my last selling price. The party hasn't started without me.