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

To: kolo55 who wrote (9593)	3/20/1999 3:08:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 27311

Paul, interesting, I do not have access to the new 10Q yet (when was it filed?) but the 10Qa for the quarter ending 9/27 had the following: Convertible preferred stock, Series A, $0.001 par value: Issued and outstanding: 7,500 shares and 0 shares at September 27, 1998 and March 29, 1998, respectively 5,900 - Common stock, $0.001 par value: Authorized: 50,000,000 shares; Issued and outstanding: 25,538,000 and 25,068,000 shares at September 27, 1998 and March 29, 1998, respectively 156,245 153,583 Notes receivable from stockholder (4,862) (4,862) Deficit accumulated during the development stage (137,329) (128,012) Accumulated other comprehensive income 2,196 2,253 ---------------- ----------------- Total stockholders' equity 22,150 22,962 ---------------- ----------------- Total liabilities and stockholders' equity $ 41,926 $ 42,894 ---------------- ----------------- ---------------- I wonder what is the share count shown in the 10Q you have cited. In any event, both documents do cite 7500 of the preferred, but the Sep 27, gives them a value of $5,9 MM and the Dec 27 gives it a value of more than $6 MM. Strange, the difference could be accumulated interest (charged in the income statement probably), but it does not explain where did the other $1.5 MM go to, unless it was already added to the additional paid in capital and the accountant forgot to change the 7500 to the appropriate new number. There is an increase of about 500,000 shares and about $3 MM increase in add. paid up capital, implying these 500,000 shares brought in $3 MM, if there were about 250,000 in warrants conversion, then everything would be dandy except the number of prefered (which should have been only 6000 or so. Zeev