VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: John Curtis who wrote (366)	5/17/1997 2:01:00 PM
From: Gordon Quickstad	of 27311

Valence is in litigation with a group of investors regarding the stock price collapse in 1993. Then, the previous lithium technology offered higher energy density but had two engineering problems. The number of recharges was too low to meet Motorola's requirements (there was a $100 million contract at stake) and the use of lithium in its metallic form caused safety concerns (it's reactive and also grows dendrites which can short out the battery). I think the company felt these obsticals would be overcome by their engineering effort. Those investors think that the company didn't reveal the problems that they were having. It's a classic case in the small company/new technology/big opportunity/competitive world. Anyway, the company is obviously very sensitive to forward looking statements. This also happened back when investor suits were just coming into more prominence. Now there are many disclaimers that accompany forward looking information. The Valence annual report gives so many negative aspects of the business that they're engaged in, that it definitely doesn't qualify as sales literature. So, I'll be interested in your impressions.

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