Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Pronichev who wrote (6590)	1/2/1999 12:17:00 PM
From: FMK	Read Replies (1) \| Respond to of 27311

Castle Creek description- "Castle Creek Capital LLC, is the general partner of Castle Creek Capital Partners Fund I, LP. Since its formation in 1995, Castle Creek has developed into a highly successful private equity investment firm. Having successfully initiated the investment in nine financial service companies, Castle Creek was described in a recent publication as "the action" in California bank acquisitions. Castle Creek also has the distinction of being registered as a bank holding company with the Board of Governors of the Federal Reserve System. This provides Castle Creek with the flexibility to work actively with Portfolio Companies on the realization of their strategic objectives while simultaneously providing third party oversight of Castle Creek's business practices."

To: Pronichev who wrote (6590)	1/2/1999 1:32:00 PM
From: FMK	Read Replies (1) \| Respond to of 27311

Michael, The "R&D" rules for accounting were explained by David Archibald as not requiring sales of laminate to be reported as revenue. As an R&D company, laminate shipped to joint venture partners or to Delphi is not finished goods. According to DA, it should show up as reduction of inventory. I believe significant quantities of laminate are produced in Ireland for use elsewhere. For example, the plant in Korea will receive laminate as raw material. It will then be cut to size and stacked in layers by the assembly machines, such as the Arcotronics machine identical to one of the two NI high speed machines. Since Hanil's high speed assembly machine was thoroughly test run in Italy last year alongside Valence's similar unit, it should be ready for the 1 million cellphone batteries per month announced they would start producing soon. Before the 1997 decision to purchase coater/laminators so they could build their own, Valence's NI factory started with assembly machines similar to the Hanil layout. In these early days, it was therefore more meaningful to describe the equipment as line1, line2, line3 etc because the process started with laminate as raw material. As I understand it, the added coater/laminators now take a significant amount of factory space and are considered a separate operation. The laminate is stored for use on more than one assembly line.