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

To: Mark Johnson who wrote (5514)	11/23/1998 1:53:00 AM
From: Tickertype	Respond to of 27311

Lev's "no comment" reaction to the question as to whether batteries off line 1 have been tested by potential customers has certainly generated a lot of questions. Some saw it as a red flag and bailed out. Others didn't. My own take on it is as follows: Lev said in a previous cc that the line would be up and running by early september, if I'm not mistaken. He also mentioned 5 units per minute. I would therefore assume that the line has been producing batteries in some quantity for some time now, long enough to have gone through the quarantine process and been available for shipment. If this has not happened, then it would appear that a problem has come up. Would Lev be likely to hide a problem, a problem that could seriously jeopardize the Jan 27 milestone and therefore the share price? Considering his previous experience with the class action and his apparent efforts to avoid any repeat of that unpleasant episode, I would think that he would avoid any appearance of covering up some significant problem related to the company's ability to produce batteries within the time period in question. Therefore my reaction to his comments is positive - I think it is reasonable to assume that the company is in a sensitive negotiation stage with one or more OEM's, and Lev wanted to stay away from that topic of discussion until, as someone pointed out, he will be talking to us "under different circumstances" - I think that's the way he put it. - T -