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

To: Tickertype who wrote (25686)	11/17/2002 11:15:12 PM
From: P. Ramamoorthy	Respond to of 27311

Ticker, From Stephan's reactions to conf call questions, I suspect that: (1) Hanil - this jv was almost getting terminated as Stephan joined VLNC. Lev probably cleaned it up for him before leaving VLNC. For whatever reasons, he does not seem to be interested in Hanil for now. He is focusing on China. (2) Cobalt and manganese battery technology: He was "lukewarm" at best, opposite of Lev's excitement. (3) Licensing revenues: Seems to be interested in eventually building this revenue stream but he is most interested in producing several million whr/month, generating revenues from the large format Saphion technology and establishing VLNC credibility with OEM's. Licensing efforts do take a lot of resources and there is a time lag before the licensee starts production and sales. We'll see what happens with FengFan. Cylindrical cells are in the back seat for now. Stephan seems to be interested in a steady and slow ramp up in production without running into another technical glitch and building OEM credibility. As for conf call questions, whoever asked about delisting did not know the NASD bid price requirement. If this person is an investment professional, you can understand Manhattan Attorney Eliot Spitzer's crusade. jmo. Ram