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

To: Zeev Hed who wrote (6303)	12/27/1998 1:59:00 AM
From: FMK	Respond to of 27311

Zeev, Lines 1 and 2 are already in place and have been producing batteries as witnessed by visitors on Dec 3. The S3 statement that "the line" is about to be delivered and production qualified must therefore apply to the next line, because I don't believe line 4 should be expected until late spring and perhaps not in time to be production qualified by what appears to be line 3's timetable. As I mentioned before, I believe the primary purpose of the s3 was to file a required SEC document for the revised financing and caveats were added as standard legal procedure to prevent any chance of a lawsuit. The fact the Cal Reed was listed as the CEO was an indication that other company information was not up to date. The 1800 per day to breakeven was stated by CEO Lev Dawson during the last conference call together with the $2.50 per watt hour. The $1.65 was a number I had used in revenue and profit projection prior to hearing the $2.50 The earnings outlook looked very good using the $1.65, so hearing the $2.50 was a positive surprise.