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  "documentTitle": "QuantumScape (QS)",
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  "presentationDate": "2021-04-15 00:00:00",
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  "notes": "Uses highlighted quotes from a Yahoo Finance interview to contrast CEO claims with the activist's narrative of deception.",
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      "kind": "paragraph",
      "text": "In the Feb 25, 2021 Yahoo Finance interview we referenced a few pages earlier, the CEO states that the 4-layer cells he had just announced were a \"big breakthrough\" and that he won't have 8-10 layer cells until end of this year.",
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      "kind": "quote",
      "text": "BRIAN SOZZI: \"Jagdeep, that sounds very important, what you just mentioned, eight to 10 cells by the second half of this year. I think a lot of folks are still getting to understand your company. And you've had, really, some big developments in many respects that come out of left field or come out of the blue. You wake up one morning. And you see, wow, the stock's up so much. When do you expect to reach that eight-layer cell? What's the date? Is there some timeline you can provide?\"",
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      "text": "JAGDEEP SINGH: [...] \"And I think what we were really pleased to see, as we reported last week in our earnings call, that we, in fact, had taken four layers and stacked them up together to make a four-layer cell [...] And that was the big breakthrough because what that means is that we can now continue to scale this technology. Later on this year, we hope to have an eight to 10-layer cell. And if we hit that milestone, then we'll be on track to deliver actual sample cells to our automotive OEMs. So that was a pretty big deal.\"",
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      "text": "JAGDEEP SINGH: \"Yeah, the eight to 10-layer cell, we think, is going to happen by year end. So we don't want to set expectations too high. I mean, we've been fortunate so far that the goals we've set, we've been able to meet, the single-layer cell announcement, this multilayer statement was, I think, ahead of what anybody was expecting. But I think the eight to 10-layer cell, we're targeting by year end.\"",
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      "text": "Source: Transcript of Yahoo Finance interview 2/25/2021 https://finance.yahoo.com/video/quantumscape-ceo-shares-two-exciting-151621348.html; quotes above are excerpts from the transcript, with breaks indicated by \"[...]\" and the dashed line.",
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      "kind": "title",
      "text": "The best way to cover up data that would blow up your SPAC is to pretend that you don't have it yet. We think the CEO's recent statements about the status/timing of multi-layer cells are not only disingenuous but constitute fraud – a ruse to pump the stock with a fake \"new\" milestone.",
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      "text": "4) Multi-layer cells: a fraudulent narrative to cover-up a failure",
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