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

To: wm sharp who wrote (7946)	2/5/1999 1:49:00 AM
From: I. N. Vester	Read Replies (6) \| Respond to of 27311

Just got home from the mtg. I also felt it was very positive. They showed a film of all the equipment in operation, discussed in convincing detail the technical advantages of their mangesium-oxide cathode technology over the cobalt technology which the Japanese and others are using, and discussed some of the many areas of production and product technology which they have patented (e.g. packaging the batteries in plastic bags like food storage bags). Also explained how extensive their quality control programs are. They have a very large QC staff working in state of the art facilities (which they showed on the film), and detect bad cells very early in the production process which allows them to drastically reduce the cost of bad cells. They have placed a very high emphasis on QC and Lev emphasized many times that about the only risk that could kill their chances of success would be if they shipped a faulty product to their first customer. When I asked about finances, Carl Berg said something I could not quite catch about having more money to invest, but seemed to immediately realize that he'd better say anything like that in a public meeting after everybody in the room turned towards him, and he clamed right up and did not repeat his remark! Lev said that they hoped to be able to hold off on more financing until PO(s) were a done deal, then do an offering at a significantly higher price. He also said they decided that they were just too busy now to deal with moving, so they are staying put in Henderson.