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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: mooter775 who wrote (16935)12/12/1999 12:23:00 PM
From: Larry Brubaker  Read Replies (2) of 27311
 
<<Company in August conference call postulated cash flow breakeven in 12/99 quarter. Delays in initial purchase order have pushed that back, in my opinion, to 3/31/00 quarter, and 6/30/00 at the latest.>>

By the way, I thought I'd remind you that last summer, the projection attributed to VLNC management was... "VLNC will break even in the 3rd quarter from Hanil and Alliant orders alone." This projection was not conditioned on an initial purchase order, but simply on the existing orders from Hanil and Alliant. Remember the statement that "next month's production is spoken for." This also referenced the Hanil and Alliant orders, which were claimed to be sufficient to achieve cash flow breakeven.

Just thought I'd remind you that the projection of breakeven cash flow was not conditioned upon further purchase orders, but simply the orders they already had.
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