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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Dennis V. who wrote (6364)12/29/1998 12:56:00 PM
From: lws  Read Replies (1) of 27311
 
Hi, everyone,

I too am having a hard time reconciling the S3 reference to qualifying lasting at least through the first quarter with what we've heard from Lev in the conference calls of the last six months.

It seems to me that if the S3 "qualifying" reference was to (all) "lines" instead of a new line like FMK suggests, then it implies something went drastically wrong with the earlier line(s) -- and that would have been material information which should have been announced. I realize he never explicitly announced that the first line had been qualified, but he certainly indicated it could be inspected by outsiders (the Dec. 3 analysts) as a line ready to produce a product the company was satisfied to sell. It seems implausible that he would have shown them something that was not ready because it was not yet qualified. Suppose later it turned out it could never be qualified? It would be to risk a BIG black eye, and Lev seems too cautious for that. So if it was ready (qualified) then, has something gone wrong since?

In brief, doesn't reading the S3 as pertaining to all production imply there must have been serious problems with the first line which were material enough to require public announcement? If that's the case, where's the announcement? The absence of an announcement makes me think the S3 is most plausibly read as referring to a new line. Any thoughts?

Regards, lws

PS Happy and Prosperous New Year to all!!
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