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

To: I. N. Vester who wrote (9907)	3/27/1999 7:42:00 AM
From: Zeev Hed	Read Replies (2) \| Respond to of 27311

Vester, assume that your $40 MM is a correct number (I have currently no way to estimate this one way or another), I do not understand how you get $20 MM EBIT, their current burn rate is $28 MM per year, you should expect that with production and selling going on charges for production, cost of materials and increased SG&A should bring this figure up markedly (I thought that Lev said that we should know when production is imminent when we see the burn rate increase dramatically) Zeev