Reports indicate IM3 acquired $200 million worth of assets for $5 million, page-17

All I see here is Siemens as a software partner to assist in the functionality of the proposed factories. Something MNS needed anyway, and would’ve otherwise taken from a Siemens competitor. Magnis however wraps it in an elaborate announcement to garner interest. If it works then more power to them, but like I said history shows the market sees through the fluff.

As Wilma said, Magnis paid $2.5m for 8% of the NY gigafactory, valuing it at $31.25m. That’s one of only a few clear facts.