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Technology Stocks : Energy Conversion Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hoff who wrote (2555)	11/1/1998 11:48:00 AM
From: fred whitridge	Respond to of 8393

I went through this same math as soon as we got the press release. Why ECD is so obfuscatory when this detail will have to be printed in the 10Q is beyond me. Usually they blame it on the partner. For the time being, I'll assume that half the 8 million was royalty which would give us arond a $160mm value for Ovonic-- pretty near what Honda paid. Hopefully the 10Q will drop the mystery. Still, a nicely anti-dilutive transaction. I'd like to see ECD raise an additional $20 million by selling 10% of Ovonic to the public. A step up to the most recent industrial partner rounds, if my logic above holds. Funds would stay within Ovonic and be used for process improvements and/or evening out the capital contributions into GM/O so our cash flow would be nearer term as GM/O begins to produce EV packs. Like Mike Latas I moaned when i heard that only 15 EV1's had been outfitted. This was supposed to be 1 1/2 days worth of production out of a Kettering, Ohio plant sized for 2,500 EV packs per year.