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Message: Financials

I was looking for something specific in the financials and found it. There is a section that shows where the revenue is earned, by geography eg; Canada, USA etc. I have been speaking for some time about their deal with Amita Technologies. I wanted to see if some of their income was from "other" so not Canada, Germany or USA. Sure enough almost half of their revenue is from "other". This is a new source of income. In all of 2016 there was only a little over 200,000 from other. This quarter 867, 000 was listed as other. Remember Amita was to finish a new line at the beginning of 2017 so income from this line would have started then. I am speculating here but I wonder if this was a test line for the Electrovaya/Litarion technology and if so it is interesting that now they have announced a second plant with Energy Absolute and eventually plan to produce 50GWH per year. Personally I am convinced this "other" revenue is from Amita but you can draw your own conclusions. Also their largest customer accounted for 43.9% of their total revenue for this quarter or 882,000 (very close to "other"). I think this must be Amita because DHL revenue would be in Germany and there was only 783,000 in revenue in Germany this quarter. I think the only other option would be Hyster-Yale but the revenue would have to come from multiple countries. One other thing, one quarter of their revenue this quarter was from other than large format batteries so either licensing their technology, electrodes or engineering.   

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