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Non-Tech : Bill Wexler's Dog Pound
REFR 1.715+9.2%3:57 PM EST
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To: golden_tee who wrote (342)3/19/1999 9:53:00 PM
From: Bill Wexler  Read Replies (1) of 10293
 
The VLNC fraud: There is no further relationship between VLNC and Delphi

VLNC stock touts have made much about a relationship between Delphi automotive and VLNC. Valence did have a joint research effort with Delphi, but it was recently terminated. VLNC does not receive any additional income from Delphi. In fact, the relationship was terminateed early (by Delphi) and the only thing left out of it is a worthless cross-licensing arrangement.

The following excerpt comes from the 2/24/99 10-Q:

<<<In May 1998, the Company and Delphi announced the completion of their
collaboration on lithium polymer battery development. Delphi will retain a
license to use Company-developed lithium polymer technology for vehicular and
stationary load leveling / peak shaving applications. The Company will retain
a license to use Delphi-developed lithium polymer technology in all other
applications. After August 1998, the Company anticipates that it will receive
no further payments as a result of the Joint Research and Development
agreement with Delphi. As part of the early termination of the collaboration
agreement, Delphi paid the Company $2.2 million. The Company has no future
obligations under the termination agreement and has recorded the payment as a
component of other income.>>>

VLNC is fraudulently promoted and will eventually trade under 1 a share.
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