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

To: Zeev Hed who wrote (9904)	3/26/1999 11:43:00 PM
From: I. N. Vester	Read Replies (1) \| Respond to of 27311

With $20M IDB money as working capital, assuming $20M EBIT on $40M sales (500k laptop batteries) I get appx values of: X1 = .3 x2 = (2.5) x3 = .3 x4 = 5.4 x5 = .6 total score = 3. I believe this confirms that A-Z gives them a borderline 'strong' rating with the $20M IDB funding and $40M PO(s) for 1 year, on a rough calculation. This confirms my gut feeling that the market is priced for this level of P.O. Any additional funding would improve the A-Z score significantly.