Larry, to the best of my knowledge, line 1 has been in Northern Ireland for approximately 2 years. There have been extensive modifications, but it was producing 5 laptop batteries per minute at reduced speed as reported by Lev during the August 12 Conference call. According to my notes, the design speed is about 10 per minute. I believe additional production workers have been added for a second shift, which could account for a portion of the increase from 60 to about 270 at the NI plant. I believe they have produced, inventoried, tested and shipped thousands of line 1 batteries for testing and are continuing to build inventory.
I don't believe it is an SEC requirement for Valence to publicly announce that they have shipped test samples to anyone. If you put yourself in Lev's postition, if you said you were, you would be asked who did they ship them to. If contracts didn't soon result, were the samples bad? and so forth. I doubt if he wants to have to explain himself any more than necessary. After all, Cal's regime were taking 60 or so calls per day from people who wanted to verify what another shareholder heard from a company representative that posted on the internet. At the time, I questioned whether they had time to get their work done.
Its too bad the SEC document wasn't proofread for possible misinterpretations. I believe the timetable for "the line" referred to in the s3 refers to line 3.
Message 6703800
As far as a timetable for line 1, I wouldn't be surprised to see a contract relatively soon, as the increase from 60 to 270 employees may suggest to reasonable people that something is about to happen. |
