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Message: MD&A

A couple of important points from the MD&A. Receivables were 7.2 million, that is more than the entire revenue for the quarter as well as 7.2 million in inventory. The inventory is broken down into 5m. raw materials- 270,000 semi-fnished goods and 1.9 m. finished goods. I think this represents a significant amount of income still to come in. Another issue that stood out to me was the iFaaB project Litarion is involved in. They state "In Q2 2015 the main activities focused in further developing a suitable large-scale process for the production of a thinner ceramic separator (Separator P20) and developing process technologies for electrode production based on Lithium-iron-phosphate and Lithium-titanate. So they could be looking at expanding their options in offering different electrodes which could greatly increase their sales of electrodes or just offer those battery options themselves. This iFaaB project is scheduled to end in November of this year.

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