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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Mark Johnson who wrote (10822)	4/28/1999 9:21:00 PM
From: Bill Wexler	Read Replies (3) of 27311

So let's review the plan: 1) File yet another worthless patent and claim "worlwide dominance" of Li-Poly technology. This is particularly amusing in light of the fact that Valence does not have any products and a competitor announced today that it is shipping Li-poly batteries in volume (without using any Valence "technology"). 2) Appoint Roy A. Wright the senior VP of operations. My, that's quite a step down for Roy who used to be CEO of Iwerks. Let's take a look at the performance of Iwerks over the last 2 years: finance.yahoo.com Hmmm. I think I now understand why Roy is a former CEO! 3) Appoint Jay King the CFO. Mr. King's most recent experience has been as CFO of Casinovations - a Nevada company that manufactures card shufflers. This certainly makes sense for a company on the verge of "world domination" of the Lithium-Polymer battery market. After all, you have to do some pretty fast shuffling to explain why you are dumping another $50,000,000 worth of stock on the market even though you haven't had any revenues for 3 years and have an accumulated $150,000,000 deficit since inception. 4) Appoint William J. Battison III the VP of Marketing. Big Bill used to be in charge of marketing for the aforementioned powerhouse of Iwerks entertainment. Bill's other claim to fame is being former president of Westwood One...right before he was ousted and the company turned around in a big way under new management. Bill's job is going to be a lot easier at Valence...since there are no products to market. 5) Valence files $50 million shelf - the "bucks to assure worldwide dominance". So let me get this straight: the company has not delivered a product or meaningful revenue since inception. All of it's R&D deals have been terminated. It has flipped over key executives several times and has lost its CTO. The company has yet to demonstrate it is capable of manufacturing anything. It has flushed $150,000,000 down the toilet to date. But once we sell $50,000,000 more of toilet paper we will rocket to WORLD DOMINANCE! I love it when a plan comes together. Don't you?

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