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

To: add who wrote (16460)	11/29/1999 12:20:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

<<Don't you think that even though the SEC filings don't say much about OEM samples to date, they now have sent samples to over 40 (as per the last CC). Seems incredible that they could have done so without having done all the prior footwork. Did the SEC filings say that they would have over 40 by now ? So how can you forecast Larry from reading SEC filings ?>> I don't forecast, I take them at face value. A year ago the filings said they had not sent production samples to OEMs. Now they don't say this. I don't remember exactly when they removed that language, but that is probably about the time they started sending production samples to OEMs. <<Likewise, how do you know that some tweaking does not mean just a few days of work to get to full production capacity ?>> I don't, but they also don't use the word tweaking. What the filings actually say is: We have produced prototype and production quality products that we believe have performance characteristics that are suitable for a broad market. However, additional development will be required to enable us to consistently produce battery systems with these characteristics. The Company presently has a limited quantity of products available for sale. In addition, to achieve broad commercialization of our products, we will need to reduce manufacturing costs of our battery systems. Our batteries may not be manufacturable in long-run commercial quantities to the performance specifications demanded by customers. We must still be able to competitively manufacture these batteries. Our current manufacturing technology might need to be more fully developed before we will be able to manufacture our batteries in commercial quantities. And this: To date, we have not manufactured batteries on a commercial scale. And this: We are currently in the early stages of transitioning production to an automated high volume production line that will work with our newest battery technology in our manufacturing facility in Mallusk, Northern Ireland. The redesign and modification of the manufacturing facility, including its customized manufacturing equipment, will continue to require substantial engineering work and expenses and is subject to significant risks, including risks of cost overruns and significant delays. Additionally, there is also the fact that they moved back the date for completion of construction in progress once again, this time until the end of FY 2000 (or 6 months). You might interpret these statements, and this additional delay in the completion of construction in progress, to mean a few days tweaking. I don't.