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

To: Robert Cohen who wrote (7847)	2/21/2001 12:34:31 AM
From: BelowTheCrowd	Read Replies (1) \| Respond to of 10293

Hardly an article. Just a two sentence mention in Greenberg's column: During the conference call for Valence Technology (VLNC:Nasdaq - news - boards) last week, somebody asked about an assertion in my column that the company may not have the ability to mass-produce its lithium polymer battery. CEO Lev Dawson was heard to respond, "Do you think he had any motive for that." Which, to my mind, begs the question of why the CEO would not have just come out and stated, "we have the capability of manufacturing XXX batteries per month right now, and a growing our capacity to XXX batteries by the end of the year" or some such statement. In my experience, when you attack the questioner rather than answering the questions directly, it's more than likely that you are trying to avoid giving an answer. My knowledge of this company is pretty incidental, so I may have missed something, but I have never seen such a statement from them. It would add a lot of credibility, since it would demonstrate that the CEO was willing to put his own neck on the line by making a statement that he could be hung on if it turned out to be a lie. Instead, everything I've seen from this company has been a vague promise of something or other sometime soon. As an investor, I can't be bothered with companies that talk in riddles. I realize that many people here seem to think it's cool to try to guess and interpret the actions of their favorite companies. I prefer to invest in those that don't make me guess at and interpret their day-to-day operations. mg

To: Robert Cohen who wrote (7847)	2/21/2001 3:52:49 AM
From: Pink Minion	Respond to of 10293

Have you seen the plant in NI? Have you spoken to any VLNC OEM including Qualcomm, Quantum, Alcatel, U.S. Navy, NASA? Maybe you need to read their last report biz.yahoo.com For the quarter, Valence reported revenues of $1.9 million, compared with revenues of $408,000 in the third quarter of fiscal 2000. Doesn't look like they made too many of them batteries. But at least they can sell something - stock: In the fourth quarter, the Company completed the acquisition of approximately $30 million in cash and other assets from West Coast Venture Capital Inc. in exchange for approximately 3.5 million newly issued shares of Valence stock with a two year lock up.

To: Robert Cohen who wrote (7847)	2/23/2001 11:30:54 AM
From: Kevin Podsiadlik	Read Replies (1) \| Respond to of 10293

Still more on VLNC from "that rag": thestreet.com Finally, reader Patrick Miller writes: "Why don't you give it a rest regarding your constant biased slant on Valence? Clearly you're associated with short-position holders and your perspective is obviously extremely tainted. Why do you harp on the lack of credibility? And what supports your position?" Ten years of not delivering a big contract, for one. But let's be a little more recent. In a November conference call, CEO Lev Dawson was asked if shares Telcordia received for selling a part of its biz to Valence would be locked up. In response, he said, "Locked up for a while, yes." But, then he appeared to hedge himself by starting to say something about not disclosing and then saying the deal was not final, yet. When asked if there would be some disclosure as to the lockup when the deal did close, he said, "Absolutely." That was in November. The deal closed a month or so later, and was followed by the filing of an 8-K. And guess what? There was no disclosure in the 8-K about a lockup, as Dawson said there would be. But, hey, that's not all: Two weeks ago, on Valentine's Day, Valence filed an S-3 registering Telcordia's shares to be sold. Asked during a conference call later that day about whether the shares were free to trade, he said, "They are free to trade now." He had led people to believe there would be a lockup -- or at least a disclosure about a lockup -- and there was neither. That, Patrick, has everything to do with credibility.