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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Rich Wolf who wrote (8225)2/12/1999 4:03:00 PM
From: Rich Wolf  Read Replies (1) of 27311
 
Correction re: raw materials

What was heard at the meeting, after the official discussion ended, was that Lev had said he'd ordered tens of metric tons of raw materials at the end of last quarter, but the implication was that it wouldn't show in the cash burn (or as inventory) until this quarter. I'd thought he'd said they'd been paid for, and assumed it meant it was paid in January (can't imagine someone delivering and then not wanting payment in 30 days).

My mistake for misquoting the details. I think the implication remains.
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