So many troubling things about that announcement:
- I can understand a university coming up with prototype to demonstrate their product, but the fact that a 200m mar cap company uses that announcement to try and get some bump in the price.....embarrassing at best, but financially damaging when they are trying to raise funds
- what's more concerning is that the battery spruikers have been adamant that IM3NY was a partnership where the JV had exclusive right to IP in CV4, but it seems that CV4 is doing its own little projects outside of IM3NY.......IM3NY is basically going to be their local manufacturing arm, and C4V is going to be the firm that earns all the margin given they own the IP and seemingly have the relationship with government.
The money is in the IP and not in manufacturing (this C4V battery demonstrates that), so it's frustrating that MNS mgmt don't. Upreti is playing them for the fools they are.
Anyway, this little circus is coming to end shortly......some small fundraising to keep the lights on (further dilution), but at least mgmt at not going to get any serious money to burn on these initiatives. The only hope is that a JV partner comes on board in 4Q with some cash for Nachu and gets things moving
MNS Price at posting:
36.5¢ Sentiment: Hold Disclosure: Held