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

To: Raven McCloud who wrote (2924)	5/20/1998 11:29:00 AM
From: John Curtis	Respond to of 27311

Conference Call synopsis: It started with forward looking statements by L.D.. He then summarized yesterdays news release and then opened the floor to questions. 1. Have customers received test batteries? Yes. Batteries have gone to 2 major customers, both of which have expressed satisfaction with them. Indeed, since this initial approval VLNC has significantly improved the product above this satisfactory level. 2. Battery areas tested? Areas such as cycliability and temperature to name a few. 3. Can you walk us thru the rampup process? LD-critical area's are getting contracts. Henderson can manufacture all the test batteries needed for client testing, which is the current phase, then manufacturing would go to N.I.. He expects the N.I. plant to be making batteries withing 3 wks. He expects it to take "several" months for "great demand" to begin to occur. L.D. then was asked a general question regarding how the process unfolded over the last several months. L.D. basically gave a brief history lesson on their R&D. 4. What's the update on Korea? Korea is on plan to complete the factory by late June. They expect production within 5 months. 5. What sort of production volume is expected from all plants? L.D.--Customer "pull" will determine that, although there's tremendous production volume capability out of N.I. They expect to be able to support client request for very high volume by early next year. 6. Regarding OEM demand--any problems, can you foresee? L.D.--No, he can't although he hopes to have a problem satisfying demand. 7. Regarding Delphi-- What type of royalties? L.D.--approximately 3% up to 30 Million, above that the majority goes to Bellcore. 8. What is current cash position--how financiing? L.D.--enough cash for the next several months, although they're talking with several financial institutions about taking on debt. 9. How does VLNC battery stack up against ULBI? L.D.--doesn't know anything about ULBI's product thus cannot say. 10. A sales cycle question. L.D.--Hard to say but several months most probably while the clients test, etc.. 11. Production question. L.D.--Initial N.I. production will be the 4x4 cells which are very suitable for portable computers.. (next post)