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

To: Rich Wolf who wrote (10435)	4/14/1999 10:21:00 PM
From: Mark Johnson	Respond to of 27311

Thanks Rich, another brilliant analogy! Don't you just love it when Visnic gets hot, we're ready for another spike!!!

To: Rich Wolf who wrote (10435)	4/14/1999 10:26:00 PM
From: Larry Brubaker	Read Replies (3) \| Respond to of 27311

<<But if 'POs' are announced soon in the way described above by Lev, that contradicts your interpretation, because the 'sale' was performed long ago already.>> As always, I interpret the SEC filings to mean exactly what they say. And here is what the March 15 S-3A said. "We Do Not Yet Have The Sales Staff, Support Capabilities And Distribution Channels To Distribute Our Products On A Commercial Scale" As far as financing goes, I still consider this to be the key. Your conjecture is they are drawing down on Berg's $7.5 million, which as you correctly point out, has conditions attached to it. If they have met these conditions, why is this not a material event worthy of a PR? And even if not a material event in the strict legal sense, why would they not mention it anyway? Surely they know there is a great deal of uncertainty concerning the liquidity of this company. Their own financial statements indicate they have negative working capital, that their funds will run out by March 31, and include the "going concern" warnings. Are they so unconcerned about their shareholders that they leave them to speculate about how they are paying the bills? On the other hand, maybe they have not announced anything relating to financing because there is nothing to announce. They may still not have access to Berg's $7.5 million and they may be scrambling to raise money. I am quite comfortable waiting to see how this is resolved.