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Non-Tech : Bill Wexler's Dog Pound
REFR 1.860-4.1%Nov 3 3:59 PM EST

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To: Bill Wexler who wrote (252)3/18/1999 4:24:00 AM
From: Bill Wexler  Read Replies (3) of 10293
 
Reiteratre strong sell/short sell recommendation...VLNC

Stock is heavily (and fraudulently) promoted by Don Wolanchuk - best known for providing dubious "market timing" advice. Mr. Wolanchuk is also associated with the notorious Carl Lind - who runs a gambling hotline (i.e. daytrading advice for futures and options) for those wishing to lose large amounts of money as quickly as possible.

Valence has no revenues or manufacturing capability - nor has it had any for years. The stock is artificially inflated through the dissemination of false reports that the company is on the verge of receiving large orders for its Lithium Polymer batteries. Valence has no such orders pending. There is also a doubt that Lithium Polymer technology could be be made cost effective or practical enough for widespread commercial applications. Valence does not have an exclusive license to develop and market this type of battery.

For all intents and purpose, Valence has been nothing more than a battery research lab for the past decade...and not a very good one at that. Despite the fact that Valence has entered into several alliances and joint ventures with several larger firms, the company has yet to show any meaningful progress. In the meantime $150 million has gone up in smoke.

Several key executives have fled the company, including its chief technical officer.

Valence stock is essentially worthless and nothing more than a vehicle to steal money from small investors and funnel it to insiders and holders of Valence convertibles.
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