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

To: John Curtis who wrote (4490)	10/22/1998 11:03:00 AM
From: FMK	Read Replies (1) \| Respond to of 27311

John, I understand that shipment of samples to OEM's and payment for them was mentioned during discussions months ago with ex-CFO Dave Archibald and large shareholders/instutions. Dave reportedly explained that sales of laminate and sales of samples to OEM's and would be accounted for in reduction of inventory rather than revenues, and the accounting can be done this way (as an R&D company) until there are contracts. Remember that Dave bought 20,000 shares for himself on the open market shortly before he resigned. I doubt, as critics claim, that conservative Dave bought with his own money to support the stock price! Regards, FMK

To: John Curtis who wrote (4490)	10/22/1998 1:16:00 PM
From: FMK	Read Replies (3) \| Respond to of 27311

Some Joint-Venture news, thanks to a Yahoo poster koreatimes.co.kr Under the terms of the joint ventures, the partners puts up all the capital(about $50,000,000 by Hanil) and split profits 50/50 with Valence. Valence sells the laminate to the joint ventures and therefore does not reveal the formulae or proprietary techniques. It is a form of payback for all the years of R&D and will provide yet another source of revenue for Valence shareholders to look forward to. Since Valence's cash outlay is zero other than some travel expense etc, the ROI % for Valence is asymptotic!