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

To: HQ who wrote (6403)	12/29/1998 7:43:00 PM
From: Dennis V.	Read Replies (1) \| Respond to of 27311

Thanks HellQat, I know that you've worked hard on this. Can anyone tell me what the difference is between shipping and "shipping in earnest"? This is the third time that FRB has framed response with these words.

To: HQ who wrote (6403)	12/29/1998 9:01:00 PM
From: Larry Brubaker	Respond to of 27311

HellQat, another good post. Thanks. Your willingness to be objective about the situation adds to your credibility. While the conversation about the meaning of the S-3 may have been painful for some, I think we are getting closer to an understanding of exactly where they stand. It sounds to me like the situation is not a rosy as some would suggest ("samples have been in OEM's hands for months") nor as gloomy as I feared. If they felt as of a week ago they would be ready to send out samples in earnest within a few weeks, that tells me something I didn't know. A couple of comments. First, it sounds like they still may be a few months away from contracts with the "extensive" testing period for OEM's still to come as described in the S-3. While some OEM's may be more agressive than others, I believe Lev indicated at the August Conference Call that cell phone manufacturers are the ones who were more likely to be aggressive since less redesign is involved in putting a VLNC battery in their product. I wouldn't be willing to bet that having finally (apparently) getting Line 1 up to speed neccessarily means there will be no problems with Line 2 (there is the issue of a lawsuit filed by VLNC against the manufacturer of the small cell lines). So, how aggressive laptop manufacturers are to buy the product remains to be seen. Second, it would appear that in the best case (samples go out in earnest in early January), VLNC is a few months behind ULBI who has stated they've been providing samples for OEM testing for some time now. But all in all, this is a positive report. If they really do begin shipping samples "in earnest" in early January, presumably they have finally resolved the vast majority of problems that has kept them from getting to this point until now.