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

To: Zeev Hed who wrote (9727)	3/22/1999 11:38:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

Zeev, the property, plant, & equipment increased by about $2 million for the quarter. What I am wondering is where do we see the corresponding $2 million expenditure for this increase? Since financial statments have to reconcile cash from quarter to quarter, the expenditure for additional property, plant and equipment must show up somewhere in addition to the balance sheet. Also, I must be really thick. I had always assumed the $15 million from Castle Creek included only the preferred shares and any warrants they purchased would be on top of this. I now see they actually received $11.8 million for the preferred shares and will only get to the $15 million if and when all the warrants are exercised. I should have known this by their statements that the total financial package (including Berg's $10 million) is up to $25 million.