Nice update. A few takeaways:1. Its great to see collaboration...

Nice update. A few takeaways:
1. Its great to see collaboration across the portfolio of companies under the SOR holding with Stealth developing the load simulators and power management improvements. This shouldn't be underestimated.
2. They continue to mostly develop this under grant funding which is great from a LTH perspective as you aren't concerned about their cash burn as you are with some other companies on the ASX.
3. The upcoming flagged January update is related to the larger scale power generation. This could be a catalyst if they can show the cells running something larger in terms of applications outside of the wearables market, I'm thinking industrial sensors, but who know really, they could surprise with something larger.

I'm still of the same long term opinion on this one, if the technology is proven reliable and scalable at a reasonable cost, then it is currently largely undervalued. It will be a long path to convince investors though, generally with tech that seems incredible its a case of show me the selling product. In other words there is an extra business step that needs to happen where they show a pilot product that they can sell with a unit cost below the selling price. It may be the case that they should target multiple product lines at the same time and try and gauge which one has the best potential margins. It will be interesting to see what sort of business model they select for monetisation and whether they go it alone or try and licence it to an existing manufacturer. That doubt though is upside for those willing to take the risk and see.