You swap out a like for like battery, just replacing a depleted one for a charged one so no need for a 10k charge. This tech is currently used in China by Nio https://youtu.be/0StTrsdoD3c
You're exactly right jh77, and if spoton were worried about the bond not being successful they would have realised that profit. I take it as a good sign they still hold 3.1% of the shares in issue.
SpotOn have already paid 500,000 pounds to participate in rights issues last April and May. Not massive money but unfair to say no money on the table and it's 500,000 more than Apec ever paid.