| Balance Sheet for Valence Technology Inc. (VLNC) | | | | | | | Assets | in Thousands of Dollars | | | 03/2008 | 03/2007 | 03/2006 | 03/2005 | 03/2004 | | | Cash and Equivalents | 2,616 | 1,168 | 612 | 2,500 | 2,692 | | Marketable Securities | - | - | - | - | - | | Receivables | 7,208 | 5,415 | 3,273 | 1,473 | 1,578 | | Inventories | 8,904 | 7,915 | 2,738 | 2,564 | 3,318 | | Other Current Assets | - | 297 | 183 | 124 | 73 | | Total Current Assets | 22,011 | 15,025 | 8,292 | 7,448 | 8,324 | | | Gross Fixed Assets | 8,487 | 7,908 | 10,708 | 7,574 | 27,669 | | Accumulated Depreciation | (3,397) | (3,911) | (7,656) | (5,191) | (15,451) | | Net Fixed Assets | 5,090 | 3,997 | 3,052 | 2,383 | 12,218 | | Intangibles | 57 | 178 | 288 | 400 | 514 | | Other Non-Current Assets | - | - | - | - | - | | Total Non-Current Assets | 5,147 | 4,175 | 3,340 | 2,783 | 12,732 | | Total Assets | 27,158 | 19,200 | 11,632 | 10,231 | 21,056 | | | Liabilities | in Thousands of Dollars | | | 03/2008 | 03/2007 | 03/2006 | 03/2005 | 03/2004 | | | Accounts Payable | 4,214 | 2,904 | 1,599 | 3,251 | 3,235 | | Short Term Debt | - | - | - | - | 967 | | Other Current Liabilities | - | - | - | - | 1,753 | | Total Current Liabilities | 10,811 | 7,643 | 12,542 | 9,099 | 13,171 | | | Long Term Debt | 53,607 | 52,390 | 51,112 | 34,656 | 39,407 | | Deferred Income Tax | - | - | - | - | - | | Other Non-Current Liabilities | 21,447 | 18,475 | 15,580 | 12,536 | 12,756 | | Minority Interest | - | - | - | - | 4,484 | | Total Non-Current Liabilities | 83,664 | 79,475 | 75,302 | 55,774 | 64,679 | | Total Liabilities | 94,475 | 87,118 | 87,844 | 64,873 | 77,850 | | | Preferred Stock Equity | - | - | - | - | - | | Common Stock Equity | (67,317) | (67,918) | (76,212) | (54,642) | (56,794) | | Total Equity | (67,317) | (67,918) | (76,212) | (54,642) | (56,794) | | Total Liabilities & Stock Equity | 27,158 | 19,200 | 11,632 | 10,231 | 21,056 | | | |
