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

To: jim heger who wrote (4360)	10/7/1998 10:04:00 AM
From: Mark Johnson	Read Replies (1) \| Respond to of 27311

Some excellent comparisons from the Yahoo Thread: New data for ULBI has been presented on the ULBI Yahoo thread. Here is some data for comparison. ULBI's line 1 can presently turn out 12,500 watt/hr per shift as posted today. VLNC equip is believed closer to max designed capacity but best guesses for max design capacity for both are shown. The information has been stated during conference calls or has been posted before. --------------ULBI#1---VLNC#1---VLNC#2-VLNC#3 mfr-----------Glockner-Glockner---Arco---Arco product-------cellph---Laptop---cellph----cellph max batt/mn-----50-------10--------25---------25 wh/batt------------2--------35---------5----------5 wh/hr-----------6000----21000-----7500----7500 wh/shift-------48000---168000----60000--60000 wh/3shx350-50.4mln--176.4mln---63mln--63mln Total annual----------ULBI--------------VLNC- watt/hr-------------------50.4mln----------302mln rev@ $4 per wh-----$201.6mln-------$1209mln sh outstanding----------10.5mln--------25.5mln watt/hr per share--------4.8---------------11.8 The present max capacity for ULBI is 50.4 million watt/hr per year vs 302 million for Valence, not including their joint ventures. Although ULBI plans to dilute their stock to raise money for more equipment, their present 10.5 mln shares before dilution is compared 25.5 mln shares for Valence. From the comparison, it appears a share of ULBI can be purchased at $6 and the shareholder will own 4.8 watt-hr per year of LiPolymer manufacturing capacity. As an alternative, $4.50 will buy a share of Valence with 11.8 watt-hr per year of LiPolymer manufacturing capacity. Each share of Valence has 2.5 times the watt hour capacity as each ULBI share. Someone just posted that ULBI should jump to $20 when a contract is announced(IMO that is optimistic). At 2.5 times the LiPolymer capacity per share, what should Valence stock do when they announce a contract? Valence can obviously accept a larger contract based on their machine capacity and they have more outstanding shares.