Ann: New York Gigafactory Progress, page-48

Not sure what all the fuss is regarding funding to cover both operating expenses and that required to get NY 1GwH into action.

From the quarterly, "potential investors, both domestic and international are currently undertaking various forms of due diligence with a view to making an investment in Magnis. Cornerstone investments form part of this interest and discussions are continuing and the Company is aiming to be in a position to announce a definitive investment this quarter".

A 'cornerstone' is more than just the typical sophisticated investor involved in a standard CR. They often choose to take a strategic position in the company, such as magnis did with C4V.

An off-take partner would typify a 'cornerstone', and their investment is to allow for both profit from their own downstream relationship and to have security in their supply chain partner.

In order to get a seat on the board, usually a 10% steak is required.

A 10% stake in Magnis, so as to get a seat on the board, requires about 60m shares - at 40c, that's $24m, or at 50c it's $30m raised.

And the, "Company is aiming to be in a position to announce a definitive investment this quarter".

I'm pretty sure that with the announced CAPEX on Ny 3GwH being$130m, and then purchasing $200m worth of initial investment comprising equipment and inventory, $24m or $30 would absolutely, well and truly cover all that is required to get 1GwH rolling.

Seeing what's taken place previously, I wouldn't be surprised if Magnis funds all that is necessary for the 1GwH and in doing so, reduces BEI's stake while increasing its own % both directly and indirectly i.e. we could also end up with another 10% in C4V.

Personally, I think it's an extremely exciting time for the company and the groundwork laid over the last couple years will allow for real company movement and SP appreciation over the next 6 months.

Institutions love a good chunk of cash in the bank and if that cornerstone happens to be a big name company, watch them jump on board as we move closer to production and positive cash flow.

Of coure, the above is all IMO