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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Tickertype who wrote (8262)2/12/1999 9:01:00 PM
From: dstand   of 27311
 
In Nov, 98 there was a perception that a contract announcement would be made prior to the CC or the analysts' visits in Dec, or a product with a Valence battery would be introduced at Comdex.. At that time the floorless financing was still in place and there was no indication given by the company that anything positive was imminent. Still, the price of the stock went over $11.00. At the present time we have more reason to believe a contract is imminent, AND, the floorless financing has been removed for a time. Lev is making statements that he wants to get the stock price up "without hype", the search for a new CFO may be over, and he is working "very successfully" with several large repackagers. Two lines are ready for immediate production and there are 164 employees at the NI plant. When the point was raised in the CC that the company would run out of money the end of March, just over six weeks away, he clearly indicated there were several sources available but seemed to prefer selling more stock when the price was higher.

The money that went into Valence in Nov was obviously taken back out in Dec when Comdex and the analyst visits didn't trigger an announced contract. I suggest that those funds are ready to go back into Valence as soon as we reach the same stage we were in back in Nov. That time is now. The SH meeting and the CC make that clear.
Good luck to us all,

David
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