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

To: Larry Brubaker who wrote (16247)	11/17/1999 10:25:00 PM
From: I. N. Vester	Read Replies (1) \| Respond to of 27311

How much revenue did he have from Hanil in the .15? Remember, when he did that analysis he was 18 months or so early on vlnc start of production and hanil was probably still looking for land to build the factory at that time so he was probably projecting hanil would not even be in operation 18 months out. I don't guess I'm doing too bad seeing as you have the report in front of you and i have not laid eyes on it for about 18 months <vbg>. You're awful slow on the uptake re Hanil. I sure do like that 1.5 multiplier on Valence earnings per share!

To: Larry Brubaker who wrote (16247)	11/17/1999 10:58:00 PM
From: MGV	Respond to of 27311

Why would you think he is a sophisticated investor? He doesn't know enough to know that VLNC will not get to 50% gross margins, let alone 65%. That projection is pure Wolanchuk. Consider a premier fabless large cap technology company. Take Cisco Systems. What do you suppose their Gross margins are? Do you think VLNC can match them? To predict premier class gross margins when the company isnt even cash flow positive is more than putting the cart before the horse. It is manipulative bordering on fraudulent.