Correct. But as it had been said .....Sayona is almost a ' Pure...

Correct. But as it had been said .....Sayona is almost a ' Pure Valuation Play ' in so many different ways . So therefore you have to work the valuation numbers to arrive at where it was likely to go .....and then work the TA around that AFTER. Sayona has been breaking new ground constantly and is a completely different company to what it was formerly. It's like trying to apply TA to a complete ' New ' IPO in many ways. And in that instance - what do you have to do ? Well you have the valuation and capital raising of the IPO which underwrites its pre-market quoted valuation . But you also have peer to peer valuations as well as Industry valuations and matrices you can compare it to.

And in an IPO situation you would have numerous other FA issues governing the initial price , like what they are going to use the proceeds of the IPO for , are they going to pursue growth by acquisition or organically , do they have existing income or is it all exploratory and forecast , do they have a great BOD with solid industry or applicable experience , what does their Top 20 look like pre-listing , who are their partners if any .....etc....etc.

And all these factors will be valued once the Company hits the boards. But it's NOT governed by TA ....because effectively there is no TA yet. Similar situation to the ' New ' Sayona in my opinion and why I focused so much time on the VALUATIONS.

Now you can argue this or that about 3.2 v Acuity's 3.1 or the 3.0 cent Options or even about the 7.8 - 7.9 cents which it hit in June being somewhat a throwback to the 7.8 cent expired pre-raise options. But essentially everything else that happened after Sayona was set to affirmatively acquire NAL , it became all about the Valuation and less about the TA until things played out. We can now use TA as a rear view tools to where we are now YES. But it still takes nothing away from the reasons why we got to this point in the FIRST place and was nothing at all to do with TA.

So I absolutely agree with you that you should where APPLICABLE and where NECESSARY , and where you have the time do BOTH.....