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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: pcstel who wrote (24723)8/17/2001 8:16:56 AM
From: Robert Cohen  Read Replies (2) of 27311
 
PCSTEL,

I was in agreement with your characterization of the "surprise" earnings release in conjunction with the announcement that the business plan would be released some 3 weeks later. It made no sense to schedule it in such a manner unless the intervening time was used to release new information regarding new contracts and/or new strategic relationships. To my dismay this has not happened as we watch the stock price fall. It will be interesting to see what management has to say on the 23rd, although at this point I will be surprised if it affects stock price in any meaningful way. As per my usual way of voicing my concerns to management, I have spoken with the new CEO as well as written to the new VP of finance, Kevin Mishnick, outlining the areas I fell shoud be addressed. They are acutely aware of the importance of credibilty and I feel that a seminal change in the culture at Valence has taken place. It will not be businees as usual, you can count on that. We must now wait to see how this translates into rampimg up production as well as entering new markets. I will post my email to management later today. I was given assurance that these questions would be seriously considered for inclusion in the presentation on the 23rd. In addition to my previous questions, I too would like to know the rational behind the purchase of the new building. Perhaps this will be made clear as the business plan is discussed. A crucial question relates to the phosphate chemistry. Those who were at the SM may remember Lev showing a slide which showed energy densities well above 200Wh/kg for the 2nd generation product. He also told me personally that he had released J. Barker to present technical papers at peer reviewed venues. The number was also discussed of $.14/Wh as the cost of raw materials. We were also led to believe that a crucial patent was expected to be granted in June or July. It is my hope that these issues will be discussed. In my previous communications with M_E, he has made it clear that energy densities above 200 are theoretically impossible. See a recent post to that effect on YAHOO by him. Some effort should be made to let Stephan know that experts in the field ( There is no doubt in my mind that M_E is such an expert and is unbiased) have serious doubts about these claims as they relate to energy densities. Only by releasing information to experts in the field as well as production samples will this issue be put to rest. Claims have been made and should at this point should be viewed in a skeptical light. Please let management know that you want these concerns addressed.

Anxiously waiting the 23rd

Robert
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