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

To: Jibacoa who wrote (3208)	6/30/1998 12:00:00 PM
From: Herb Blair	Read Replies (1) \| Respond to of 27311

Thought it was a good report still on track. Buying opportunity again although I have enough. Getting a little tired of buying opportunities.

To: Jibacoa who wrote (3208)	6/30/1998 12:12:00 PM
From: John Curtis	Read Replies (3) \| Respond to of 27311

Conference Call synopsis: Wooo weeee, where to begin, where to begin. Okay, begin at the beginning. L.D. started the call with "forward looking" statements. He started speaking against the 10K. The increased expenditures are due to building test batteries, to the tune of 4.8 Million. Then made commercially oriented statements. They are now building, on the line, NOT hand made, batteries in both Henderson and N.I., although quantity is limited. Henderson has been shipping the newest style test batteries to OEM's, but it's too soon to say what the outcome of their testing is. This will take time. He rolled right into a comment regarding financing. It look's like financing is gonna be via preferred shares & debt. Based on a comment made later in the call he feels that although this preferred shares arrangement will be dilutive, the terms he's seen appear to be acceptable. Bottom line, though, is they're still in negotiations over financing and cannot speak to the particulars yet. L.D. then went to Q & A. The questions came from "far afield," ie. Everent(spelling?) Securities, Phoenician Securities, Advantage Capital, AG Edwards, General Electric, etc., etc., etc.. 1 Any comment from OEM's on latest batteries? L.D. No reaction as yet with current batch. 2. Accounts receivable question: The accounts receivable amount is due to an advance provided by an insurance company for legal activities. 3. A cash question. L.D. stated that only part of the cash info is released in the 10K/10Q and he moved to the next question. 4. Comparison question between ULBI and VLNC's battery: L.D. cannot compare the two but will send a spec. sheet articulating VLNC's current parameters so the questioner can do his own comparison. 5. Question regarding L.D.'s view of market size: If you look only for Lith-Poly to merely replace th Lith-Ion market then he see's the size as ~1 Billion. If you open the market up to other segments, then he see's it in the range of 8 Billion. 6. What's VLNC's biggest challenge now? Installation of the equipment is the biggest. They've run every piece of equipment in the plant(s) but not as a TOTAL system. They are now sending some of the Henderson personnel to N.I. to accomplish this task. 7. Korean question: L.D. see's Korea as being online, at the earliest, in early 1999. When it was pointed out that the Korean partnership had made a public statement saying "by end of July this year," he pointed out that they had a new CEO over there, and most likely this was recorded prior to the current Asian difficulties. 8. Any "Goo" problems remaining? L.D. NO! The problems have been overcome. 9. Is he still on track with his prior calls commitment timeframes? Yes, he feels they're still on track.