RE:Was the Toronto Hydro storage system responsible for Q4'sDrunk@noon: It is worth to look deep into the financial results of the last 3 quarters. From January to March, none of the revenue came from Germany. From April to June, about $5.5 million came form Germany, and from July through September, it was $9Million. Problem is, that the overwhelming fraction of these revenues are from one contract, namely the supply of batteries to Daimler's Smart car. This battery cell volume will be switched to a Korean supplier at the end of October, so you can expect revenue in the current quarter from that source to drop to $3 Million or thereabouts.
They received a contract (press release on September 1, 2015) which will add about $3Million of revenue in the current quarter. There may be other orders, too small to warrant a press release; a best-case scenario for revenue in the current quarter is therefore about $7Million. At that level, they will lose money again, so the most recent quarter was a (positive) aberration.
On this and other stock boards, there is speculation that they will get the Smart car contract back. Any probability for this to happen dropped to zero when they announced that they are not anywhere close to producing NMP-free, which by their own claim is the key to produce at lower cost. So, for the next two years, their cost structure will remain the same as before the acquisition, which caused them to lose the contract to the Korean competitor. At the earliest, a return of this business may happen in 2018...
When you dig a bit more in the recent financial reports, you will note that their balance sheet is riddled with liabilities. For this reason, they will need to tap into additional capital. My prediction is that this will need to happen before the end of February (2016). In the past, this has always caused huge stock price drops.
For all these reasons, I am extremely generous when I call this a "speculative investment". In conversation, I would use less flattering terms...