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Valence Technology net loss shrinks to $239,937 in December; sales up
By Caroline Salls
Pittsburgh, Jan. 22 - Valence Technology, Inc. reported a $239,937 net loss for December on $4.15 million in revenues, according to its monthly operating report filed Jan. 22 with the U.S. Bankruptcy Court for the Western District of Texas.
The figures showed improvement over the $727,704 net loss posted for November on $2.32 million in revenues.
The company had $204,302 in cash at Dec. 31, down from $815,642 at the end of November.
Austin, Texas-based Valence Technology is a developer of lithium-ion batteries. The company filed for bankruptcy on July 12. The Chapter 11 case number is 12-11580.
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