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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (1271)	6/9/1999 8:03:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 10293

Not exactly accurate about the VLNC PR. Hanil/VLNC (the purchaser of the work in progress) is not a "division" of VLNC. It is a separate entity that is financed by Hanil Cement Co. It is a JV with VLNC in that it will share profits with VLNC in return for licensing VLNC's technology. A "purchase order" (as it was described in the PR) by Hanil/VLNC to purchase product from VLNC should result in a payment from Hanil/VLNC (Hanil's money) to VLNC. Furthermore, Hanil/VLNC did not purchase "raw materials" from VLNC, but an manufactured product (albeit not a finished battery). Obviously the market wasn't impressed with this PR, but it is not accurate to refer to it as a "transfer of raw materials to one of its own divisions." Hope you guys have a better understanding of your "investment" than this :-)