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Pastimes : From A to Zeev" -- SI Sacks Zeev -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (199)	1/22/1998 11:02:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 708

Zeev: In 1994, the agreement with Delphi was extended for 5 years. Delphi is still footing the bill for VLNC R&D for which Delphi is granted an exclusive license to use VLNC technology to produce batteries for commercial land, marine, and air vehicles, electric vehicles, and for electric utility load leveling. The license converts to non-exclusive 4 years after the first commercial sale. VLNC's batteries would be used for cell phones and laptops. As of the quarter ending September 28, VLNC had $22 million of cash, and had burned $12 million over the preceeding 2 quarters.