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: P. Ramamoorthy who wrote (8149)	2/10/1999 4:55:00 PM
From: Rich Wolf	Read Replies (2) \| Respond to of 27311

10Q is out on Freeedgar Some "highlights:" - Have enough cash to run through March 1999 - Unexercised warrants available, which would provide more cash - They received $2M from IDB last fall for equipment - Generated over $23M, all told, from two rounds of financing from Castle Creek, some from Carl Berg, other from exercise of options by previous employees, etc. - Minimal wording regarding battery itself, except that the 'prototype does not meet all of the specifications...' But no specification as to whether this may refer to safety testing not yet completed as of Dec.28, which we knew was the case, already. Lev said at the meeting that both he and the customers were satisfied with the product, with the recharge cycles, with the energy density, etc., and they're currently deep into their 'programs' with customers, who require assurance of Q/A onsite, etc. (note they spent $2M on equipment for this) prior to requesting final product under a P.O. - It does provide wording that the estimated completion date for all construction in progress is end of 1Q00 (June 1999). Lev had told us they're receiving the third line this quarter, and are modifying some of the packaging equipment to perform that function for the large cells, making that sequence fully-automated. So this is in line with expectations, with an extra quarter of wiggle room for unexpected delays. All in all, short and sweet. Nothing that ought to change how we feel about the company's potential, after the shareholder's meeting. We're all just waiting to hear they've got buyers for their product. STILL BULLISH! Good luck to all longs.