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

To: kolo55 who wrote (4930)	11/12/1998 4:17:00 PM
From: Pronichev	Read Replies (2) \| Respond to of 27311

I saw a new Sony Lithium Ion battery on the new thin lap top model PCG-505G also 505X the complete battery plus shell is 9"x3/4" cylinder and weighs according to the sony website .34 lbs., functions sort of as a hinge in the back where the top lifts up. The specs on the battery said: 11.1V/1550mh and is rated for 3.5hrs use. Sony part PCGA-BP51. The website also shows an "L" battery, long life, which has a 6.5 hour rating. (Part PCGA-BP52) After speaking with many folks over at Sony I could only elicite: It is brand new, consists of 2 cylinders similiar to the one, and retails for $249, Noone could give me the spec i.e. volts/mAh What does all this mean? FMK? John Curtis? any one? Thanks Michael Pronichev

To: kolo55 who wrote (4930)	11/12/1998 4:30:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

Your description of a numbskull question was the most pertinent question of the CC. As the questioner correctly pointed out, the variable conversion of preferred shares kicks in on January 27 if a material contract has not been signed by then. The questioner asked whether VLNC was likely to secure a contract by then. A very material question. Lev's response was not anything like you describe. He acted like there is no variable conversion option and stumbled around saying something like, "I think its tied to stock price...right Joe"? (or whatever the name of the guy was who is the chief accountant). "Joe's" answer was yes, that's right. He then suggested listeners read the SEC filings. Well the SEC filings, of course, say there is a variable rate option as of 1/27 if there is not a material contract by then. So, what Lev did was evade a very pertinent question, and what he said was inaccurate.

To: kolo55 who wrote (4930)	11/13/1998 3:12:00 PM
From: Greg Smith	Read Replies (1) \| Respond to of 27311

>>...some numskull questioner got on, and asked something like: "Isn't it true that if you don't have a contract and ship batteries by January 27, 1999, the variable conversion kicks in?" Lev quite correctly told the questioner that this wasn't true, and referred him to the SEC filings. Lev didn't waste his time explaining the difference between signing a contract and shipping batteries...<< Your recollection is not accurate. I took pretty good notes on that part of CC. The exchange went like this: Q: The preferred stock will have a variable convertability unless a milestone is reached by Jan. 27,1999. Are you comfortable with meeting that? A: "I don't think that's the date on the deal." Q: "That's not the date?" A: (after checking with accountant) The convertible rate is based on the stock price, it has nothing to do with receiving an order by Jan. 27. Q: I thought the EDGAR filing said the preferred conversion rate could change to a floating rate if orders were not received. Still no forecast when orders will come in? A: No. It's not wise to speculate. I dunno. I think either Lev misunderstood the question or was being a bit evasive.