VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: wm sharp who wrote (2531)	3/30/1998 8:26:00 PM
From: wm sharp	Read Replies (2) of 27311

Review of Industrial Development Board funding. Have been reviewing the 10-K. Pages 17 & 18 describe funds still available to Valence from the NI IDB totalling approx $38 million. They become available after the company has recognized revenue of $4 million in NI. Using figures cited earlier (see links below) it appears that the company could qualify for additional disbursement of these funds after running just Line 1 for one quarter at startup yields. 1.25M batteries/year = 0.3M/qtr. At 50% yield, 0.15M/qtr. At $30 gross revenue/battery, we'd see approx $4.5M in gross revenue per quarter from Line 1 at startup, using conservative capacity, yield, & shift numbers. The IDB funds couldn't come at a better time, IMO. Message 3813809 Message 3643618

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