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                            SECURITIES AND EXCHANGE COMMISSION
                                   Washington, DC  20549

                                        FORM 10-Q/A


         (Mark One)

         [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OR THE SECURITIES
              EXCHANGE ACT OF 1934

         For the quarterly period ended June 30, 1996.

         Or

         [ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OR THE
              SECURITIES EXCHANGE ACT OF 1934

         For the transition period from ____________ to ____________ 


         Commission file number 0-20028

                           VALENCE TECHNOLOGY, INC.
           (Exact name of registrant as specified in its charter)


                 Delaware                             77-0214673
    -------------------------------        ------------------------------------
    (State or other jurisdiction of        (I.R.S. Employer Identification No.)
     incorporation or organization)


                      301 Conestoga Way, Henderson, Nevada 89015
              -----------------------------------------------------------
              (Address of principal executive offices including zip code)


                                      (702) 558-1000
              -----------------------------------------------------------
                    (Registrant s telephone number, including area code)


              -----------------------------------------------------------
                   Former name, former address and former fiscal year,
                              if changed since last report


Indicate by check mark whether the registrant (1) has filed all reports 
required to be filed by Section 13 or 15(d) of the  Securities Exchange Act 
of 1934 during the preceding 12 months (or for such shorter period that the 
registrant was required to file such reports), and (2) has been subject to 
such filing requirements for the past 90 days.


          (1) Yes   X      No                 (2) Yes   X      No
                  -----       -----                   -----       -----

Indicate the number of shares outstanding of each of the issuer's classes of 
common stock, as of the latest practicable date.

     Common Stock $0.001 par value                   21,671,993 shares
     -----------------------------            -------------------------------
                (Class)                       (Outstanding at August 6, 1996)


                                                                  Page 1 of 5


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                   VALENCE TECHNOLOGY, INC. AND SUBSIDIARIES
                      (companies in the development stage)

                                 FORM 10-Q/A

                      FOR THE QUARTER ENDED JUNE 30, 1996




                                    INDEX

                                                                         PAGES
                                                                         -----
PART II.  OTHER INFORMATION

   Item 6. Exhibits and Reports on Form 8-K . . . . . . . . . . . . . . . .3


SIGNATURES

                                             2


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                         PART II - OTHER INFORMATION

ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K

      a.   EXHIBITS

           Exhibit 10.35  Joint Venture Agreement between Valence Technology 
                          B.V. and Hanil Telecom Co., Ltd., dated as of 
                          July 10, 1996. 

           Exhibit 10.36  Form of License and Support Agreement to be entered 
                          into between Valence Technology B.V. and Hanil 
                          Valence Co., Ltd.


                                      3

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                                    EXHIBIT INDEX

EXHIBIT                                                               SEQUENTIAL
NUMBER       EXHIBIT                                                 PAGE NUMBER
--------------------------------------------------------------------------------
10.35(*)     Joint Venture Agreement between Valence Technology           xx
             B.V. and Hanil Telecom Co., Ltd., dated as of 
             July 10, 1996.

10.36(*)     Form of License and Support Agreement to be entered          xx
             into between Valence Technology B.V. and Hanil 
             Valence Co., Ltd.




-------------------------------------------------------------------------------
(*)   PORTIONS OF THE TEXT HAVE BEEN OMITTED.  A SEPARATE FILING OF THE OMITTED 
TEXT HAS BEEN MADE WITH THE COMMISSION AS PART OF REGISTRANT'S APPLICATION 
FOR CONFIDENTIAL TREATMENT.

                                      4

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                                  SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned thereto duly authorized.

                                  VALENCE TECHNOLOGY, INC.
                                  (Registrant)



Date: February __, 1997           By: /s/ David Archibald
                                      --------------------------------
                                      David Archibald
                                      Director of Finance
                                      (Principal Financial and Accounting
                                       Officer)

                                      5