Time to short more shares of the VLNC fraud, bill? The only reason to ever short VLNC was if one believed that this announcement would never cover. Well here it is for your short pleasure!
Monday February 28, 8:03 am Eastern Time
Company Press Release
SOURCE: Valence Technology, Inc.
Valence Technology Begins Commercial Shipment of Lithium Polymer Batteries
MALLUSK, Northern Ireland and HENDERSON, Nev., Feb. 28 /PRNewswire/ -- Valence Technology, Inc. (Nasdaq: VLNC - news) today announced that it has commenced shipments of batteries from its main manufacturing facility in Mallusk, Northern Ireland to Moltech Power Systems as part of a contract for Lithium Polymer batteries which was previously announced on November 11, 1999.
``These shipments are for Valence's Model 25A batteries and represent revenue shipments against a standing purchase order,' said Lev Dawson, Chairman and CEO of Valence. ``This size and shape did not exist in our product line four months ago, but due to our unique patented technology we are able to design and produce a new line of batteries with both size and performance to meet our customers needs in a very short period of time. With most other types of batteries, a new size and shape would require a major investment and many more months of time.' |
