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

To: kolo55 who wrote (20752)	8/1/2000 9:02:06 PM
From: Zeev Hed	Read Replies (4) \| Respond to of 27311

Paul, with total "Proprty and plant" at $28 MM, I doubt the depreciation, is as high as $2.5 MM per quarter, furthermore, on a cash flow basis, as you mentioned, they probably will need all the cash generated from depreciation for that. I was actually generous, since I assumed that all additional increases in working capital from here on will be provided (for instance IDB). It clearly seems that more cash will be required before they get to positive cash flow. What surprised me, with sales of laminates and a $15 MM order booked almost six month ago, they are still not at a sales rate of $1/month. No one else is concerned? Zeev