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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: jcox who wrote (1632)12/10/1997 3:32:00 AM
From: Gordon Quickstad   of 27311
 
Dunno where Lev's been. According to the old Forbes (3/93) article, Lev was good at promoting the battery. The article stated that he pulled out a small flashlight and attached alligator clips to a battery and proceded to cut the battery in two with scissors while the light remained on. He told Forbes "This is the same demonstration I've given in investment houses all over the country - you name 'em. ... Try that with nickle/cadmium".

On another note:
In May 1992 Montgomery Securites gave a buy recommendation on VLNC. Forbes [3/93] said that the Montgomery analysts' report said that VLNC was going to make precisely $536,050,000 in revenues in Fiscal 1997. The magazine then posed the question as to how the information was derived. Their upshot was that it largely came from sources within VLNC rather than independant analysis. Then they pose [3/93]: "Is Montgomery Securities an independant source? Judge for yourself. Montgomery got the lion's share of $7 million in total underwritings fees for two stock offerings, one last May [1992] at 8, and another in November [1992] at 18. It may also be earning substantial spreads or commissions for helping insiders dribble out small amounts of their holdings to the public under Securities & Exchange Commission's Rule 144. Immediately after the November [1992] offering, 4.7 million additional insider shares were eligible for sale, subject to Montgomery Securities' permission."

Well, this is definitely old history, but it adds to the tapestry that is Valence.
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