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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: add who wrote (13623)	8/12/1999 8:47:00 AM
From: Dennis V.	Respond to of 27311

PR-concerns Q1 results: biz.yahoo.com

To: add who wrote (13623)	8/12/1999 9:37:00 AM
From: John Curtis	Read Replies (1) \| Respond to of 27311

Add: Thank you for what I feel is just about the best, cogent, summary of VLNC's finances anyone could provide. You're quite right, imho, with regard to them moving up that date. This is a FIRST for them which, given their past reticence to project any time-frame at all, implies they must be feeling pretty "warm & fuzzy" about things right now. And when you combine this move up with recent Irish governmental news....well....as you say, draw your own conclusions. Still, the proof is in the "pudding", as they say. Let's start hearing about some OEM p.o.'s.... But until then, thanks for the summary. It's worth posting around the various threads. Regards! John~

To: add who wrote (13623)	8/12/1999 9:48:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

Add, I don't think the $2.5 million of deferred revenue represents a payment of this amount by Hanil for the materials they have recently purchased. That $2.5 million of deferred revenue has been on VLNC's books for at least a year. I think this money was more or less a loan, which will be repaid when Hanil orders enough material from VLNC (thus a deferreal of revenue). Since this amount has been on the books since long before the recent "purchase orders" from their JV partners, it obviously is not related. The most we can say is these purchase orders amounted to at least $233,000.

To: add who wrote (13623)	8/12/1999 10:26:00 AM
From: Rich Wolf	Respond to of 27311

Excellent 10Q dissection, 'add'! Thank you. As highlighted by yourself and others, they now clearly state: "It is anticipated that the Company will start recording sales invoices as revenue during the second quarter of fiscal year 2000." The implication is that they will no longer classify themselves as a "Development Stage" company by the definition they laid out, as you noted. This is very nice to see in print. Also, the accelerated completion schedule now jives with what would be implied by the shipping of completed cells from both the first two lines as discussed during the last call, which claims had been contested by some posters. The company also stated during the last call that the revenues from the announced shipment of cells to Alliant would be booked during the current quarter, so the $233k in this filing does not include those shipments. Thanks again for your thorough post. You've done us a great service.