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

To: john t. brice who wrote (18322)	2/16/2000 2:00:00 PM
From: Robert Cohen	Read Replies (1) \| Respond to of 27311

I would like to present my views of the meeting. Let me begin by saying what a pleasure it was to meet so many of the posters in person. We are a diverse group bound by a common interest in participating in a very exciting technology. I was impressed by the level of your expertise but more importantly, how genuinely kind, humorous and good natured and yes even philanthropic many of you are. I hope to become financially independent by way of my investment in Valence but it was also evident from the example of many in attendance how important it is to be giving, compassionate, and to have a meaningful life separate from our investment. This was my first meeting and I left even more convinced in the future of the technology and the company. A few observations and bits of information: 1. The Globalstar phone battery was displayed. It is about the size of a pack of chewing gum but perhaps only 5-6 mm thick. The samples shown were from the production run not prototypes or hand made. Retooling is therefore complete. 2. A Pentium class notebook computer with a large TFT display ran a PowerPoint presentation continuously for 2.75 hours and still showed 45% remaining capacity when I left the plant. Power was provided by 4 4x4 cells. 3. Licensing the technology will require that the licensee either hold or obtain a Bellcore license. Lev stated the Valence would be in a position to then assist in end to end design in return for up front fees and royalties. 4. Valence scientists have reversed engineered competitor products via electron microscopy and xray diffusion and were not impressed. The comments I heard were that they were "glad it wasn't our battery" and they could tell them where they went astray "but of course we won't do that!" 5. The Gen. I, II, and III terms. These are all simply modifications in the Manganese technology. Gen. II provides a 20% improvement and GEN. III an additional 30% improvement in energy density. With this in mind Gen. III should equal or exceed the energy capacity of Cobalt based cells. Phosphate technology is still in the R&D phase. 6. Yields. From mixing up to lamination yields approach 100% as the product can be reused. Overall yields were not discussed. 7. Cells are tested in environments from -17 F to 60 C. Cell phone batteries require lower temp range operation while laptop cells the upper range. Batteries in many instances have exceeded 1000 cycles and in some cases 1500 cycle. 8. I met with many young and bright PHD's. They were enthusiastic. One told me that their compensation package was such that Valence will not be loosing key personnel because of financial concerns. 9. Lev was again asked about retirement. He said his health was not good but he had committed to stay on board until Valence was successful. He then said something that to me was touching and truly came from his heart. " I don't want my tombstone to say LEV DAWSON...He made a lot of money but others lost their ass!