Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

VLNC has a virtual floorless line of credit, today it just drew down another $5 MM which added about 10 MM shares, that process will continue until the $30 MM "equity line of credit" is exhausted, or VLNC turns positive cash flow, I have no visibility what soever of VLNC turning positive cash flow in the next 18 months, that should use up more than the $20 MM or so left in that line, and then what? First a reverse split, and if they are lucky, further dilution. Berg will end up owning most of the company and the current shareholders will be left with very little.

See: http://biz.yahoo.com/bw/021001/10549_1.html

Zeev