RE: This explains the recent upswingPersonally I doubt that the 25% gain was based on EFL executives attending a few trade shows. That hardly the basis for that kind of jump. What I would be interested to know is who the Private Placement (PP) was with. We are basically talking about a potential 5 million shares sold at an average price of $1. And the number of shares offered through the PP amounts to around 6% of the new outstanding total.
So unless my thinking is completely off-side on this, someone (or perhaps something) just acquired a bit less than a 10% stake in the company. You may recall the MoU with a "major Asian conglomerate" back in 2013?
https://www.marketwired.com/press-release/electrovaya-announces-memorandum-of-understanding-with-major-asian-conglomerate-tsx-efl-1758833.htm