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

To: Harold Hertzfeld who wrote (9575)	3/20/1999 11:33:00 AM
From: DKR	Read Replies (1) \| Respond to of 27311

FWIW: I noticed that David Archibald filed a 144 in December as an intention to sell stock, approx. 19,000 shares. Also, a shareholder by the name of Melvern Slates, filed a 144 to sell 50,000 shares. A form 144 has a shelf life of 90 days. Since neither person has filed a form 4 indicating the sale occurred I am assuming the shares were not sold. Why not? Perhaps the jump in stock price that these two insiders were waiting for didn't come so they decided to hold a while longer. They will have to refile the 144 if they intend to sell at this point. In summary I think the insiders actions are invaluable information and the bottomline is that it has been a long time since we have seen any insider sales and we have witnessed numerous insider buying transactions in recent months. I appreciate the debate on various nuances of filings, market opportunities, he-said she-said, etc. but I am linking my fate to the insiders, exclusively.

To: Harold Hertzfeld who wrote (9575)	3/20/1999 11:49:00 AM
From: Zeev Hed	Read Replies (3) \| Respond to of 27311

Harold and Rich. I think that the assumption of the floor here being due to CC covering is not too far fetched. It is definitely a valid strategy for CC id indeed they have hedged their convertible. I am a little confused by the recent documents, however, they imply that CC is still sitting with their Series A unconverted, but if memory serves, there was an increase in the share count of about a million shares from the last filed 10Q (26 plus MM shares, as of Sep 27, 1998) to the more recent s3-A ( 27 plus MM shares). Absent any other means but the conversion of the series A, where did these additional shares come from? Is it possible that the base 4.9% in the company owned shares of CC is indeed a base they have decided to hold onto (without becoming "insiders" forcing them them to reveal all their buying and selling?) at least until "things" clear up. I also think that it is quite possible that the current clearing of the deck (selling the 1.7 MM shares) maybe in connection with an impending additional financing. As I said, the "colors" of this additional financing will be a strong indication of what CC or other lenders think of the prospects of VLNC to become positive cash flow soon. Zeev