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Message: May15/2015 CC

Whether your long or short a company most people will interpret any and all information in a way that will substantiate their predisposed conclusion. Since April 29/2015 alot more people have been researching both Electrovaya and Litarion, as such, the stock price of EFL is now more reflective of this larger knowledge base. Once an individual has started their research it does not take long to realize Sankar Das Gupta has a credibility problem. In the CC he states in referencing the Smart Car, Daimler has sold many tens of thousands. The Litarion website puts the number at 12,000, a little research shows that at best Sankar is an embellisher. The neverending reference to all the companies that have enterd chapter 11. The fact is that companies enter chapter 11 of the bankruptcy code for protection from their creditors. And in doing so gain the time to reorganize and then emerge from protection just as A123 has. A123 a couple of days ago announced a sizable expansion plan that is in the tens of millions. Electrovaya throwing around numbers like 45m and 80m, or a pipeline of 150m, or revenues of 15m for 2014 and so on and so on have little credibility. As of this point in time the collective knowledge of the market is saying that the total is worth less than the sum. Can or will this change, absolutely, as a shareholder I hope so, as an investor I will continue to look for what I maybe missing, pro or con.

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