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

To: Zeev Hed who wrote (20748)	8/1/2000 7:21:58 PM
From: Robert Cohen	Read Replies (1) \| Respond to of 27311

Correct me if I am wrong, but I believe that Lev said that a portion of the AR were from personal loans to officers. In addition the cash on hand does not include the recent $25mm stock purchase/Berg funds. Robert

To: Zeev Hed who wrote (20748)	8/1/2000 8:34:37 PM
From: gancho	Read Replies (2) \| Respond to of 27311

Zeev, could you please present those questions at tomorrows conference call. You seem to understand the SEC documents better than the other posters. You thought we might see $11.00 yesterday. Do you see $11.00 for tomorrow? g

To: Zeev Hed who wrote (20748)	8/1/2000 10:04:30 PM
From: add	Read Replies (1) \| Respond to of 27311

Zeev, A/R is greater than Sales because of the A/R from last quarter. You have to look at the change. From $1.9 to $3.1 equals $1.2M increase in A/R. Thus, 2M in sales and 1.2 still payable. No big deal. Wouldn't use this fraction going forward either, too small and we don't know the timing. Basically, one should expect net 60 or about 2/3 of sales to be payable. Looks like G* or I can't remember the repackager's name is streching out the payments. Burn is 8.3M loss minus 2.5M depreciation or about $6.3 if you add back in capex of about $1.5 then roughly the burn is $8M. They have recently paid off a lot of payables. They could easily strech those out also. Easily another 4 or 5 million. Likewise, A/R and Inventory will go up as volume increases. However, they should be able to get a line of credit backed by those A/R.Pretty safe stuff. So I don't see that as a problem. Thus I see about $24M net burning at $8/qtr. Three quarters ! They can wait until December as long as they don't have any huge Cap-Ex. IDB monies should be flowing soon also. Zeev, pretty negative info from you , on not to sharp an analysis from you. I'm surprised. You wouldn't be short ?