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

To: FMK who wrote (6306)	12/27/1998 2:25:00 AM
From: Larry Brubaker	Read Replies (2) \| Respond to of 27311

<<There have been extensive modifications, but it was producing 5 laptop batteries per minute at reduced speed as reported by Lev during the August 12 Conference call.>> Go back and reread your notes, Fred. Lev did not say Line 1 was producing 5 batteries per minute, he said it was capable of producing 5 cells per minute. There is a big difference between producing and capable of producing. The first time Lev even acknowledged Line 1 was running was the November CC when he said that all the pieces of the line were running at "some speed."

To: FMK who wrote (6306)	12/27/1998 10:03:00 AM
From: Zeev Hed	Read Replies (2) \| Respond to of 27311

Fred, you keep telling us that they have built thousands of batteries and these are sitting in "inventory" but early in the recent 10-Q (for Sep 1998) the company clearly states the following: "The Company's current research prototype batteries do not meet all of the specifications demanded by the marketplace, and the Company presently has no products available for sale." Furthermore, if the company had an inventory of batteries, the balance sheet would have shown some inventory under assets, but no such inventory exists. What gives? Zeev