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Valence Technology posts $594,077 net loss for August; revenue rises
By Jim Witters
Wilmington, Del., Sept. 23 -- Valence Technology, Inc. posted a net loss of $599,077 for August on revenue of $3.87 million, according to the company's monthly operating report filed Sept. 23 with the U.S. Bankruptcy Court for the Western District of Texas.
Those figures compare to a $711,224 net loss for July on $2.72 million in revenue.
The company also reported $268,487 of cash on hand as of Aug. 31, down from $625,153 at the end of July.
Austin, Texas-based Valence Technology is a developer of lithium-ion batteries. The company filed for bankruptcy on July 12, 2012. The Chapter 11 case number is 12-11580.
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