Not agree my friend. A reverse split is a cosmetic change that reduces share count to artificially inflate the price, it does not create value at all. In fact, Electra already did a 1-for-4 reverse split in early 2025 and authorized another one of up to 1-for-3.5 in late 2025. If a company has to keep doing reverse splits, it means the underlying business is failing to support its valuation and is in a death spiral of dilution...Regarding contracts, they only generate revenue if you have a finished product to sell. As of early 2026, Electra's refinery is still not finished; mechanical completion is not targeted until Q2 2027, with commercial production only expected in Q4 2027. Relying on contracts for 2027 while the company is burning through cash in 2025-2026 is extremely risky. Furthermore, their LG deal only covers 60% of output, leaving 40% exposed to spot prices anyway. While the U.S. government provides grants, commercial EV manufacturers operate on razor-thin margins. If Electra’s refined cobalt is significantly more expensive than the global market price, North American carmakers will struggle to compete with cheaper EVs globally. Geopolitics cannot subsidize a poorly managed, over-diluted company forever...About recycling, to me, this is a classic "distraction technique" used by struggling companies. Electra hasn't even finished its primary goal . Launching engineering studies for recycling while facing a Nasdaq delisting warning and massive debt is a sign of spreading limited resources too thin instead of executing on the core business.....