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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 Jan 17, 2018 9:30am
134 Views
Post# 27375493

RE:Financials coming by Feb. 15

RE:Financials coming by Feb. 15It will be "same old, same old".  Why do I say that?  On the German board, a user reports that "Kurzarbeit" (mass layoff / short work week) has been extended until March.  That means that no menaningful production can have happened in Q1 (or "will happen" in Q2).   It can be assumed that the landlord will not kick them out on January 31, as long as they make a bullet-proof undertaking that they will service the arrears out of the proceeds of the sale of the MIssissauga plant.  But lets look at this hail Mary pass:  The proceeds will be 17.1 Million CAD$, which translates into net 13 million USD$ (the reporting currency), after paying real estate fees.  Now we deduct: $5.43m for two mortgages, $0.5m for Sankar (share holder loan), $2.5m for lease arrears, $0.88m for 2018 lease, $0.3m for Mississauga lease and 0.3m which the balance sheet indicates without further specs, and we have $3.1m left.  Given that their trade payables obligations are just offset by the combination of "accounts receivables" and "finished goods inventory", the remaining $3.1m are just enough to keep the lights on until March.
Bullboard Posts