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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: P. Ramamoorthy who wrote (24770)8/24/2001 1:27:18 AM
From: Larry Brubaker  Read Replies (1) of 27311
 
He really blamed the lack of NI production on the pursuit of a licensing strategy?

Up until now, I've been willing to give the new CEO the benefit of the doubt. But if he really said this, I have to ask, who is he trying to kid?

Two years ago, the previous CEO said they could already produce at a $40 million run rate. The $15 million European cell phone order was to begin shipping at least 6 months before they even announced the Telcordia deal, and even more months before it was finalized.

VLNC shareholders were promised big numbers long before the "focus shifted" to licensing. To blame the lack of fulfillment of these promises on this shift in focus is quite disingenuous.

If the guy would have just come clean and explained the problems and how they are being addressed in a forthright manner, he would have gone a long way to restore the credibility this company is lacking. The change in CEO's was a perfect opportunity to do so. He blew it, IMO.
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