On June 23rd, Sadif Analytics Prime released a report when the share price was at $3.00 entitled, "Is the recovery in Electrovaya Inc too much, too soon?" I bought it for $75 to complete my due diligence: Reuters Reports

While to contents are copyright, I can say that this report is highly favorable of Electrovaya, ranking it third amongst its peers and way above the mean for Canadian companies. The business model is a strength but managements history in conversion of gross margins to EPS is weak. The company is of "high quality and strng long-term business growth". There is no smoke and mirrors to Electrovaya as they have demonstrated actual numbers to suport the growth estimates, to date.

Another report that I purchased from Reuters, the Wright Investors' Service Research Report of July 1, 2016, is a 59 page report on Electrovaya. There is a detailed sales and inventory anlysis, profitability analysis, R&D spending analysis and financial position and strength assessment. Again, this is copyright but I can share public knowledge that they distilled for us:

1) R&D expenditure is high (30.1% of sales)

2) There is a lot of inventory on hand. To me, this means that new contracts can benefit from quick turnover without needing financing, like we are all suggesting, as there is inventory to account for early orders.

3) There is a jump in 2015 year-to-year growth, coincident with the Litarion acquisition, as well as aquisition of employees (200 currently versus 51 prior to the acquisition)

There are pages and pages of tables showing the changes in the numbers over time, all based on real data and filings. The trends are improving and growth is real. They have a way to go still but Electrovaya seems by all accounts, to be on the right track. This is not a one week story where we dump all shares because of Hass's lies and his own lack of due diligence. He called us out to do our own due diligence and I have. Electrovaya is sound and is proven that their recent acquisition is a game-changer for them. You can buy the Reuters reports to see for yourselves.