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Message: Management Discussion & Analysis Aug14 - Sedar Filing

Some points I picked out of the Sedar Filing...Most of which we already know. I wonder if it will be a good Christmas? Next 3 months will tell the story.

--30 % of Rev on research

--Looking for a new building to work out of in the USA.

--Continue to license our technology in other markets where battery manufacturing

costs are more favorable, or where it is essential that we are close to key markets.

--Compete with SAFT (Electric Grid Services) Just with SAFT?

--Our goal is to just have partnerships with key companies (Electric Vehicles)

--Electrovaya plans to have a three pronged approach to generate revenue for the company.

The first approach is to grow organically from its operations in Mississauga; the second

approach is to find stranded assets in the area of lithium ion batteries and pursue

opportunities to transform those assets into Electrovaya’s non-NMP green production

process and the third approach is to license Electrovaya’s technology to other lithium ion

battery companies.

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