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

To: john t. brice who wrote (18317)	2/16/2000 2:27:00 AM
From: drbailey	Read Replies (1) \| Respond to of 27311

To all: I am adding my perceptions of the shareholders meeting to those others who have been good enough to report. First, it was fun to meet the other posters and put faces with names. I'll have to say, millionaires don't look much different than common folk. I didn?t see a lot of gold, Rolex watches, Italian suits, or expensive cigars. In fact I didn't see any. When are we going to start spending all these newly acquired riches folks? A couple of investors couldnt resist showing up at the meeting in limos but we won't hold it against them. I had never met Lev before and until he started his informal presentation wasn't very impressed. Nothing personal, I just didn't detect much energy. But, when he got going he was impressive. He knows the product, the industry, and the best way to manage a stock. He said more than once he doesn't want the stock to be driven by PR's. He wants it to be driven by revenues. "We don't want to be a dot com." Have to say, I think it is the best way to go. The institutions will appreciate this approach while some internet traders may not. (I personally would like to see an end to the endless speculation on this and other threads of the prophets who can somehow sense a PR coming. It makes the stock more volatile than it needs to be. Over time the stock will reach the same levels without the hype and it should get there a little more comfortably. JMO) The most encouraging information I got from the meeting was that Valence is the only game in town and has such a strong lead it will literally have to create (license) its own competition. According to Lev, there are no other companies even close to make Lipoly batteries with Manganese Oxide and until there are the market belongs to Valence. Other companies will have a very hard time getting into our turf without stepping on Valence patents. It will be safer for them to simply have Valence license their use of the technology. When they do Valence will teach them how to make the batteries and will make sure they do a good job. (The better they do the more royalties they pay.) Along this line Lev indicated the company was heading for becoming a licensor rather than a manufacturer. Lev said "we can make good money making batteries but our future is in licensing the technology." On our tour of the factory one of the engineers held up a paper thin piece of laminate about the size of the side of a cigarette package and said it was probably the equivalent of a AA battery in power. That kind of put the value of the product in perspective for me. The flexibility of the package is probably the most important aspect. A product can be designed in the optimum size and shape and a Valence battery can be made to fit somewhere in the device without altering the design. Cellphones, laptops, PDAs etc., are only the beginning. Anything small that needs portable power will benefit from this flexibility. What about cameras (video and digital still), GPS devices, portable CD, DVD, MPG players, etc.? The plant in Valence isn't much to write home about but it is mainly for testing systems and developing manufacturing processes. I was impressed with the scientists and engineers. Finally, Qcom is the buyer for the larger PO. Lev can't write it but we can. David