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Electrovaya Inc T.ELVA

Alternate Symbol(s):  ELVA

Electrovaya Inc. is a Canada-based lithium-ion battery technology and manufacturing company. The Company designs, develops and manufactures lithium-ion batteries and battery systems for energy storage, clean electric transportation, heavy duty electric vehicles and other specialized applications based on its Infinity Battery Technology Platform. The Company is focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries. The Company is also developing next generation solid state battery technology at its Labs division. The Company has two operating sites in Canada and has a 52-acre site with approximately 135,000 square foot manufacturing facility in New York state. Its battery products are used across various applications, including material handling, e-mobility and energy storage.


TSX:ELVA - Post by User

Bullboard Posts
Comment by GerritEtmanson Feb 09, 2016 7:56pm
102 Views
Post# 24541992

RE:RE:RE:RE:RE:Here come the Stinky Financials

RE:RE:RE:RE:RE:Here come the Stinky Financials I know it is complicated, but let me try to explain.  One thing is the Balance Sheet, and another thing is the Income Statement.  You can usually "recognize" revenue when the truck with the goods leaves the factory and you invoice the customer.  They opted to recognize the revenue in the Income Statement in December, which is very questionable, but they have pulled those things before, notably with their grid storage hardware. This time, they fudged even more, because they did not recognize a sale as revenue prematurely, but a subsidy.  It is a "pretend sale", and our auditor (where I work) would not tolerate that...  Once you have recognized that subsidy as revenue, but you haven't actually gotten cash for it yet, you record it in the Balance Sheet as "other receivables".  That part is less contentious, as this actually does amount to something you are entitled to (an asset, after all), but it is less than cash.  So it is "other receivables".  You can twist it any which way: this is truly stinky accounting here.  The Shrimp was right!!
Bullboard Posts