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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Larry Brubaker who wrote (6334)	12/27/1998 10:48:00 PM
From: Larry Brubaker	Read Replies (1) of 27311

One more correction. Fred states he believes VLNC has been providing production samples to OEM's for testing for about 4 months now. Let's think about that one a bit. Four months ago would be late August. During the August conference call, Lev reported that Line 1 had yet to be run as a unit. So by Fred's timeline, between the August conference call and the end of August, VLNC managed to start Line 1 for the first time, qualify the line, and send thousands of samples to OEM's. Doesn't that seem a tad optimistic, Fred? After all, the only thing Lev was willing to admit to during the November conference call was that all of the components of the line were running at "some" speed. Of course VLNC has not acknowledged through any official channel that any automated line has provided samples to any potential customer. In fact, their SEC filings say quite clearly they haven't. But somehow Fred knows the have been providing samples for OEM testing from virtually the first day Line 1 was started for the first time (and that assumes they started Line 1 soon after the August conference call).

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