Another interesting event at Electrovaya.  Recently Electrovaya split the Lab off into their own division.  I said then it was a step toward either the lab or the company to set up for a merger.  Now this in the 2021 Q3 MD&A.

https://agoracom.com/ir/Electrovaya/forums/discussion/topics/764936-taken-from-the-md-a-q3-2021/messages/2326159#message

"There is an outstanding payable balance of $18 with Chief Executive Officer and controlling
shareholder of Electrovaya Inc. relating to raising of capital on behalf of the Company, as at June
30, 2021 (2020-$18).
In May 2021 Electrovaya entered a month to month Facility Usage Agreement for the use of space
and allocated staff of a third party research firm providing access to laboratory facilities, primarily
for research associated with its Electrovaya Labs segment. The term of the agreement was for six
months and could be terminated by either party upon 90 days notice. The first payment under the
agreement for $25,000 was paid for June 2021.
Subsequent to the quarter end the facility was acquired by an investor group controlled by Dr.
Sankar Das Gupta, Electrovaya's CEO and controlling shareholder, and which group includes its
COO, Rajshekar Das Gupta. The Facility Usage Agreement was not changed on the change of
ownership and remains in effect between the Company and the owner, such that the monthly
payment of $25,000 is now with a related party of Electrovaya."

It now looks like the Lab is getting ready to split off into it's own company.  This would leave the battery manufacturing free of the lab and able to combine with another company.  Anyone guess who that other company might be??