Ann: Increase in Ownership in the NY Lithium-ion Battery Plant, page-13

I am absolutely disputing the valuation. The facts indicate that the valuer got it wrong.

These are depreciating assets that Magnis paid $5 million for 2 years ago, they’ve produced absolutely nothing and therefore I firmly believe the $70 million is ridiculous. How do you lose a $50 million financing deal if you’ve got $70 million in assets to secure it against? How do you not raise a single dollar of financing against those assets since? It’s a joke mate, and you’re perpetuating it.