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

To: Rich Wolf who wrote (11758)	6/4/1999 1:53:00 AM
From: MGV	Read Replies (3) \| Respond to of 27311

Go easy on the caffeine, loosen up, go back and get a high school equivalency or something. Let me spell it out for you: Put all the data points together, consider them in their entirety, and what comes out is no sale. The delays, the frequent changes in management, the mysterious exit and reentry of Dawson, the poor R&D track record, the absence of manufacturing execution, the acutely poor balance sheet, the repeated missed self-stated deadlines for commercial production, the apparent confusion over whether to produce in Nevada or Ireland or maintain a site in Nevada, the statements by industry sources a year ago that predicted there would be no commercial li-poly before approximately the end of 1999 at the earliest, the poor analysis and representations of people representing they had inside sources of information, the competiveness in the battery industry, the formidable competition with proven management, effective R&D programs, excellent distribution channels, and established global manufacturing capacity, and too many people like johnson repeating the rants of others as a very compelling contrary indicator. Not to mention the Barron's article - don't even have to consider it - throw it away. Taking all, that is "all" of those data points, VLNC's story is suspect, to be generous. Got it? There is no "missing link" here. There is a missing continent. And one more thing - who said anything about "complete" market efficiency? Take the weakest form of efficiency and merely a fraction, a tiny sliver of what you dream, your manufacturing projections, intellectual property portfolio valuation, market forecasts, margin calculations, liquidity assumptions, business and financial risk conclusions and VLNC would not be in single digits. Look at the share price. It is in single digits.