VLNC: Valence Technology, Inc.(fka VLNCQ)

[finbar99]

To the extent they find new money, I can't see where that party would agree to money in just to pay Berg out, not even a little bit. I would think that all new money will be earmarked for W/C as a condition of the equity infusion they are currently looking for. Whether they would also seek at least a partial clearing of Berg's debt into equity - I don't know - I'd guess that the structure would have more to do with preserving the NOLs than anything else. So long as the new money comes in on a pre-money valuation of the company that exceeds the claims hurdle, I suspect we get to go along for the ride.