John, As we discussed last month when Lev mentioned the purchase of the materials, they would NOT show up in the SEC filings for the quarter ending in December. Payment would have been during January at the earliest. So I'd expect to see it show up in the filing for the current quarter, ending the end of this month. VLNC usually files at the end of the 45-day window, so at the latest you'd see the relevant filing on or before May 10.
As we speculated in the past, you'd probably see product out the door before you saw evidence of the increased cash burn rate in the financial filings (due to the latter's time delay). FWIW.
I fully agree with your comment that it's a 'slam-dunk of a gamble' to have the materials at the ready. After all, Valence will be providing product to OEMs they've had ongoing design programs with, where both sides intend to have long-standing relationships. And if the OEMs know ahead of time when they would like the shipments of the cells to commence, you can bet they'd give VLNC a wink and a nod as to when to commence production, since there's a minimum 30-day delay from initial production to shipping, due to the 30-day quarantine period Valence performs, prior to shipping.
I'd look for news of increased rates of production to leak out before we hear of product being shipped (and hence hear of the POs within a short time thereafter). We need volunteers to go to the local pubs where the workers go after work, HEH! Didn't you mention guiness in the past, John? ;)
Rich |
