VLNC: Valence Technology, Inc.(fka VLNCQ)

[Mr Clutch]

"Phase 1 of our business organization plan was to formulate a turnaround plan and exit Chapter 11 successfully.

Now that Phase 1 has been completed, we are moving on to Phase 2 which is to quickly reach profitability by executing our turnaround plan and to continue the reputation of Valence as the global leader in the Lithium ion battery industry.

I am very pleased to be able to announce the appointment of our three new Vice Presidents who, along with the rest of the Valence team, will be working very hard to make sure Phase 2 of our business reorganization plan is a success," says President and CEO, T. Joseph Fisher.