VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Zeev Hed who wrote (13615)	8/11/1999 8:07:00 PM
From: Greg McDaniel	Read Replies (2) of 27311

See if this helps to explain revenue::: from the 10-q freeedgar.com "As of June 27, 1999, from an accounting and reporting standpoint, the Company is still classified as a "Development Stage" company. As a "Development Stage" company, sales invoices principally related to joint venture partners have not been recorded as revenue but have been recorded as a reduction to expense. Sales recorded as a reduction of expenses totaled $233,000 for materials and batteries shipped through June 27, 1999. All remaining portions of these purchase orders will be shipped and invoiced during the second quarter of fiscal year 2000. It is anticipated that the Company will start recording sales invoices as revenue during the second quarter of fiscal year 2000."

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