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

To: Larry Brubaker who wrote (9562)	3/19/1999 11:44:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 27311

Larry, I may have read the 423b too fast, but at the beginning, I thought it was mentioned that these shares came into existence due to the conversion of the Preferred B, but I may have erred. I am assuming they have already "unloaded" their preferred A. In the last quarterly, they already had less than the face value of $7.5 MM (I believe the preferred A was down to $5.9 MM) and that was a good five months ago. It may be worthwhile if someone checked this. You can do it two ways, call the Transfer agent and find out the current number of shares, if it has increased to about 28.5 MM you know that the preferred A is already "distributed". The other way is to comb the recent 423b to see which shares are offered. Zeev