You are correct, Bellcore does own about 1,500,000 shares (the portion below is from Valence's 10-K)
"As part of the agreement,
which includes license fees and royalty payments, Bellcore received a
minority equity position in the Company of 1,500,000 shares of common
stock. Additionally, the Company secured the right to grant to Delphi
a limited sublicense to the Bellcore technology for experimental use,
and the right to grant an option to Delphi for a sublicense to make,
have made, use and sell batteries for land, marine, and air vehicles,
including electric vehicles, and utility load-leveling applications."
However, there is much more to the analysis then just this. You have to look at the news releases regarding this transaction. From, what I can tell the terms are not very good relative to the first licensees. I think that the best bet it to take a look at the companies I previously posted. I ussually do not partake in these discussions (because of time considerations), but you picked an industry I follow very closely. I think from the last post that you guys will have enough to talk about for a while without me. From here on out I am going to have to defer to my first request -- I prefer not to partake in postings. Please consider this in addressing your questions/messages. Thank you. |
