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

To: FMK who wrote (2345)	3/3/1998 5:27:00 PM
From: Emmo	Respond to of 27311

Right, I think it's a safe assumption that the partners of VLNC are not in the business of throwing money away. And since none have pulled out things must be chugging along to their satisfaction. These are strong partners with leadership positions in thier respective industries.

To: FMK who wrote (2345)	3/3/1998 7:30:00 PM
From: Phil Jacobson	Read Replies (1) \| Respond to of 27311

I thought it was odd that Bellcore would have invested money in this so I looked it up on the SEC Edgar site. I'm involved with them on other matters and did not recall them ever making equity investments in manufacturing processes, especially outside the telecom sector. Valence's 10K filing makes it understandable. The technology was developed by Bellcore, then licensed to Valence in 1995 in order to mass produce the batteries. This is a VC exchange of technology for shares, not cash for shares so out of pocket investment by Bellcore is probably nil. Although Bellcore will benefit from successful production I find it misleading to suggest they are enthused with Valence TODAY. The impression I got from your post was that they had recently paid for 1.5 million shares in Valence. In fact they're simply the first investor, and have done well so far on their investment via stock market anticipation from individual investors. Aside from the founders how much actual cash has any of these larger investors made, or was it just a VC deal for all of them where technology and/or manufacturing sites were exchanged for shares when Valence was just starting this up? Phil