NOVONIX The Replacement Tesla Research Team, page-45

I'd like to add that his comments regarding that they would entertain being looked at being acquired down the track have also changed since then in my opinion.

The strategy of the three different business silos within NVX as was detailed in the webinar on Friday - clearly indicates a strategy for spinning off those three businesses into separate entities (if all goes well) . Why sell a whole business for..say for $5 a share when you can sell three spin-offs units for $5 each.

Also, the comment that Tesla wouldn't purchase materials for making batteries because they don't make batteries has also changed since then. That is exactly what they intending to do as the market now knows.

Haplo