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

To: Bill Holton who wrote (5726)	12/2/1998 12:23:00 PM
From: DKR	Read Replies (1) \| Respond to of 27311

Remember they are about eight hours ahead of us so we could have feedback early tomorrow...

To: Bill Holton who wrote (5726)	12/2/1998 12:43:00 PM
From: HQ	Respond to of 27311

Nothing's been said publicly. And I expect that if the analysts like what they see enough to put some of their clients into VLNC, we'll only see that telegraphed by the trading over the next two weeks. No analyst is going to put out a public 'buy/strong buy' recommendation without first having positioned his clients. (And no one ever initiates coverage except on the buy side!) So I wouldn't expect any public recommendations from analysts until early next year. And if they are still waiting for a contract, any recommendations may be delayed further, as some investment houses may play it more conservatively. (Recall how Red Chip Review felt they were 'burned' by VLNC last year, when Lev came on board and reversed course from what Cal had been saying up through December.) This visit will first and foremost be about bridge-building, and developing confidence with large potential investors. Some of these analysts surely have ties to more venture capital, to allow VLNC to diversify its bondholders, or promote competition among them to result in better terms for the company. Yes, even with initial contracts and IDB monies, I would expect VLNC is going to need to go to the well in '99, until things are in full swing. But note that I hold the opinion that it's just 'when,' not 'if,' VLNC gets its contracts. Unfortunately, the share price vs. time will depend upon 'when' they come in, so we're all watching the calendar... So here's wishing for some VLNC PR anyway! HQ