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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Rich Wolf who wrote (11287)5/21/1999 9:35:00 PM
From: john t. brice  Read Replies (1) of 27311
 
Rich> There is one thing left out of your timeline that might make it more difficult for us to see behind the curtain. I distinctly remember Lev saying in a CC over a year ago that the way these programs work is that once the customer agrees to work with VLNC on a battery project and the design and prototype phases are completed, the customer receives a shipment of production run batteries for them to test. Once the testing is satisfactorily completed the customer receives the second shipment for which there is no charge. It is not until the third shipment that there will actually be any revenue generated, come to think of it, this could allow the SEC filings to be correct (no batteries for sale) quite a way into the program. At any rate, this could extend the time out significantly before revenues start showing up some where or being announced.

duckster
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