VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Jacques Tenzel who wrote (25402)	2/19/2002 9:41:34 PM
From: Rich Wolf	of 27311

Jacques, if I parse the language, the comments attributed to Stephan during the CC are regarding an MOU that defines product specifications, not a commitment to purchase anything from Valence (otherwise the wording would be stronger); whereas the 10Q refers generically to lack of an 'agreement' with an OEM, which I take at face value to mean there currently exists no agreement by an OEM to purchase some product from Valence. Stephan may be wanting to telegraph that he hopes this relationship with Wistron will result in a contract, but all he has in hand right now is an MOU regarding product specs and nothing more (i.e., not even a contingent purchase agreement). Even the base unit that is ostensibly to be sold through some OEM's website(s) may not entail any 'commitment' from the OEM. That is, all the risk capital may be Valence's. Just one person's view.

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