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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: I. N. Vester who wrote (24784)8/24/2001 11:04:07 AM
From: Robert Cohen  Read Replies (2) of 27311
 
Let me be clear. I have no beef with the current management team. In fact I accept the business plan and believe that new management is made up of highly qualified professionals and the chances of success are better now than they have been. We are however at least a year away from seeing the fruits of the plan. My frustration and anger are directed at Lev and the BOD for the way we were misled. I take my own share of blame for not being more skeptical. Obviously the street shares my view. Many are unwilling to wait any longer and many just don't trust anything that comes out of management's mouth. While it seems that new licensees and new contracts are perhaps several quarters away and management has little control over the ultimate timing they are able to immediately begin the process of publicly validating the phosphate chemistry by providing samples to a broad selection of the battery community as well as presenting peer reviewed scientific papers at appropriate venues. I urge all present stockholders to let management know that we expect this method of validating the technology. Waiting for new licensees or OEM's to validate the technology or blindly believing claims of low cost, high energy density and cycle life from management would in my mind be a repitition of the behavior that got us where we are now.

Robert
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