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

To: Kevin Podsiadlik who wrote (6422)	1/28/2000 8:17:00 PM
From: Mike M	Respond to of 10293

More recently was the much-hooplaed announcement of a successful sale of "battery product", which, some cursory investigation revealed, was in fact a transfer of raw materials from VLNC to a VLNC subsidiary. If VLNC were legit, why would they feel the need to issue misleading press releases? Nice of you to defend Wexler's accusations but for him it is relative. He blisters VLNC forever for decisions which were made on someone else's watch. Yet IFMX management once falsified sales reporting and was completely forgiven. Other companies don't have to do anything wrong to be accused of "fraud" other than have a product that he doesn't understand. It's just obfuscation.

To: Kevin Podsiadlik who wrote (6422)	1/28/2000 8:24:00 PM
From: Eli74	Read Replies (1) \| Respond to of 10293

To correct some mis-understandings on your part, Kevin: 1) The original shipment was to a Korean joint venture partner, (Hanil), not, as you put it, a subsidiary. 2) Since that time there have been two additional contracts announced, one for $2 million to Moltech, and another to a as yet un-named company for $15 million. 3) They have been able to arrange a private placement for $32 million with Capital Guardian Trust, who is a very, very well respected (and very large) money manager on the West Coast. 4) From these facts it would certainly appear that, as you put it, "a saleable product" is no longer it a dream, it is a reality. 5) Furthermore, it certainly appears, based on the private placement with Capital Guardian, that they now have access to adequate working capital and additional interim financing. 6) Furthermore, one can make a convincing hypothetical case that, given their technological superiority and the tremendous growth in the demand for mobil power sources, that future EPS can be quite significant. 7) Finally, these arguments ignore the potential for licenceing deals with other manufacturers. After all, it is the potential for licencing revenues that has been one of the drivers behind the explosive ascent of QCOM over the past year or so. I can't speak to what happened to the stock 5 years ago. I didn't own it then. I've just owned it for the past 2 years or so. Frankly, I'm pretty glad I have. Maybe this is just another pump and dump operation, but it sure as hell doesn't smell that way to me.