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Message: Catching up

I was away for the weekend and did not have internet access, so I would like to catch up on a few things. When the new IR rep. took over (Sean Peasgood) I spoke with him about a few things. This would be about Aug. 13th or 14th. One of the issues I brought up was the insider selling. This was before the last insider sales by RB. He told me at that time that Paul Hart's sales were for personal reasons and that there was no reason that they were aware of for an insider to sell, so nothing negative had happened. That was the only contact I have had with IR, they have not responded to any of my e-mails since, so they are back to their old selves again. As far as non-disclosure agreements, it is understandable that a company with a relatively new product would want a non-disclosure under certain circumstances. For instance it the product they are working on with their customer and possibly several other suppliers is complicated and electrovaya has limited control over the design and application of their product there is concern that there could be problems beyond their control. They would want the testing to first validate that all of the systems and suppliers are functioning well together prior to announcing the deal. We witnessed this with the Chrysler Ram 1500 project right at the beginning when the chargers used to charge the batteries was incompatible and they had to replace that supplier. If indeed they are working with Walmart on the truck program this would be another example of several companies being involved and working to make all of the various suppliers products work together. They may not want to announce that until they see they are all functioning well together, especially since electrovaya would be new to this project. While we are on the subject of Walmart I would like to mention something I noticed in one of electrovaya's latest job postings. The posting is for another sales engineer but for the first time they describe the duties as "Sales of energy storage, inverters & lithium batteries to distribution, warehousing, forklifts, utilities, hospitals & industries". I noticed lately they have emphasized the distribution and warehouse (retail and distributing) portion of their product portfolio and this is the first time I see forklifts mentioned. This could also be the connection to Walmart.


Aug 26, 2014 03:00PM
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Aug 26, 2014 04:19PM
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