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

To: jean1057 who wrote (2186)	2/17/1998 12:00:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

Conference Call: More delays in production. They talked about "problems with scale up." They are initiating a small-scale production facility in Henderson. My impression of this was to "work out the kinks" at Henderson at a smaller scale prior to implementing the "fix" at the larger scale NI facility. They talked about putting out some product from Henderson in the first quarter, but at volumes in the hundreds. Nothing from NI until the 2nd quarter, and they didn't sound very definitive about that. Not a very upbeat call.

To: jean1057 who wrote (2186)	2/17/1998 12:03:00 PM
From: geep	Respond to of 27311

Yes, delays, sort of. Lev indicated on conf call that some redundant production equipment has been moved to Henderson for debugging. Low quantity production expected in calendar Q-1, 1998. After Henderson debug, a shorter debug will occur in N.I. Then testing of batteries by repackagers and OEMs will take place (2-3 months). Summary: dificulties are expected but nothing miraculous required/more cash required- probably will take on debt. I had high expectations for this call and am extremely disappointed right now. I am still in for the long haul, however painful this latest letdown is.