VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Jacques Tenzel who wrote (24778)	8/24/2001 1:47:49 AM
From: Robert Cohen	Read Replies (2) of 27311

While it may not serve the interests of the longs who continue to be true believers, I will continue to voice my skepticism. I have attended SM the past three years and have listened to each CC. Lev has lied, been evasive and has made it clear that stockholders are the enemy and has done little to enhance shareholder value. As just one example, those of you who were at the SM remeber Lev stating that lay-offs were as a result of new state of the art Valence designed packaging machinery. Two weeks later the excuse was the economy and long lead time to product developement. Now we know that no production to speak of has occurred since then. Management contiuned to remain silent and I was told by 2 members of management that contracts were being produced to and shipped. Since current management seems to have based the future prospects for success upon the phosphate technology, let's examine the history of the various chemistries. Since acquiring the initial Bellcore license, management has consistently touted the advantages of manganese in regards to safety, energy density, cost to manufacture, and cycle life. In addition we were led to believe that Valence had the only "non-liquid" design. After nearly a dozen announced OEM "contracts" and 18 months of production the only consumer product that contains a Valence battery is a BK company, Globalstar. Now we hear that the killer application, the first breakthru in battery electrodes in decades is the phosphate chemistry. Since the SM when Lev announced availabilty of samples for the new chemistry and promises to allow Valence scientists to present data at peer reviewed venues we know nothing regarding specifications for this new super battery. Generation I was to have energy densities equal to cobalt but at a fraction the cost with Generation II energy densities of over 200Wh/Kg. None of the posters here with the exception of M_E have the technical background to judge whether these are valid claims and must thus rely upon management being credible as well as have the science subjected to peer review. Unfortunately to date we have neither to rely upon. Nothing I say here will in the long run effect the stock price. The company will fail or succeed by its own merits. This is simply a forum for me to vent my frustrations which I am sure you can tell are many. I don't know if the problems are solvable by the new management. As someone else said the Valence saga continues. It is anything but boring! Robert

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