Ann: Key Partnership For Prestigious UK Battery Challenge, page-10

Review other tech non commercial, and wild rides . Interesting their values - and non commercial. There is no guarantee that BIT will pass FDA approval (3-400mc peak )or that the many others tech do same .

Agree - until prototype validated , it is speculative. That’s a huge box to tick . With huge implications.

So it’s quite a market ball of wax isn’t it?

At different ends of the validation spectrum that ends with commercial adaptations or failure .

And at each milestone the speculation of a successful outcome looking ahead and value .

Eg . What are the odds that given the smoke so far that indeed a superior battery is achieved as claimed ? And so wagering begins. Place your bets. What is fair price with risk on , vs the greater value risk off ?

following success - what are the odds that EVCHI take this path to competitive advantage? Or other UK or emerging USA manufacturers adopt?

Ahead - Working with an emerging car manufacturer in concurrent development, has a lot of credibility about it. Value that partnership.

But then what are the commercial success if that car sales ?

Once the ball is rolling though , licensing the tech to other appliances just increases value .

Markets can overprice a working concept in motion without commercial reality in hand .

How far ? Depend on what it’s worth if it succeeds to the new paradigm. Portions of that pie .

Many great tech have a moment where they are discovered by the market , rise and fall when the hard work continues to grind ahead .

What is this new paradigm worth ?
And how many of those who discover it , would say they would like a bit of that to hold ?, just in case it becomes global .

The market is a price discovery mechanism.
Most of the market has no idea we are anything more than a lithium exploration stock.

Bring the herd of buffalo .

It’s all timing isn’t it ?
Does it quietly slumber until the prototype is in hand ? Or do more speculators discover the early stage betting ?