VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Paul Moerman who wrote (1879)	1/6/1998 1:59:00 PM
From: FMK	of 27311

Paul, <<taking into account the number of shares outstanding>> I didn't repeat all of a previous post or a post by Bill Sharp that included calculation of some ratios. ULBI has 8.9 million shares outstanding while Valence has about 22.7 million. From Conf calls and converstations with the company, It is known that the high speed Italian lines have twice the capacity of Valence's line 1. Valence's first 3 lines therefore have 5 times the capacity of Valence's line 1 and therefore 5 times the capacity of ULBI's solid polymer line from the same mfr as Valence's line 1. Adjusting this to a per share basis, I used 5 x 8.9/22.7 = 1.96 . When I stated that a share of Valence has twice the solid polymer capability I was therefore comparing Valence's first 3 lines with ULBI's single line. Since the numbers are not exact, I felt it appropriate to round the 1.96 to 2. If you can project profits according to production capability, doesn't it make more sense to purchase , for example, 2000 watt hr of production at $5.25 than 1000 watt hr at $17 ? To me this difference is very significant.

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