Battery comments FWIW...
Got a chance to do a runtime test on low - mine ran for almost exactly 17hrs, and the output was a flat 16-17lms (good regulation). That's ~280 lm-hrs from a 2 W-h battery. I usually test 1xEneloop lights and the best I've seen is ~280 lm-hrs from a 2.4 W-h Eneloop (Quark XPG2 and SC52 ~20 lms) - I suppose the difference being boost drivers are less efficient than buck.
I metered the battery toward the end of the run and got:
3.58V @ 12:30
3.53V @ 14:00
3.48V @ 15:00
3.40V @ 16:15
Protection tripped at 17:00
3.04V immediately after reset (note: while the charger seems to charge regardless of polarity, the reset seems to work only one way, so I marked the heads +/-)
Using a Drok USB multimeter (these things are great for $15), the charger drew 565mah @ ~5.15V and 2/3A from the wallwart while under CC (full charge from empty). In practice, the wallwart mah output is a reasonably good indicator of the mah that makes it into the battery, with the 20-25% voltage difference representing the conversion losses. Cell always comes off at 4.22V, and it took ~1:15hrs to fully charge.
Also ran max output @ 3.55V for 1min (performed normally), which brought V down to 3.50. Tried it again, and the circuit tripped in ~5 secs. Reset and tried again on Medium, and I think it tripped in a minute or two. So the edge of the battery cliff is ~3.50V (and matches the graph below) for med/max outputs.
I agree with Andrew that this cell probably the same as Olight's protected 5C IMR given it has the same PCB? seam near the head, same written specs, and David's Olight affiliation. Knowing David/47s, as a true US owned/operated company in the litigious US, my GUESS is that the battery is based on AWs new 15C IMR that HKJ has tested
HERE - this cell would meet the 10C requirement Andrew mentions above, but is probably under spec'd for lawyer labeling/conservatism. David/47s has to make sure their products are as idiot proof as possible using proprietary batteries (eg, Regen), protection circuits (47s won't sell unprotected IMRs), and under spec'd (5C labeling), because some Joe Six Pack American will find a way to burn his house down and bring lawsuit. Think I'll pick up a couple of those Olight 5Cs for my burst mode Quarks on 1CR123 tubes.
Whatever cell is in there, it's an IMR based on the voltage characteristics. I usually use protected ICRs and like to recharge in the 60-80% (~3.8-3.7V) depleted range since frequent top-up charging wears li-ions out faster. The equivalent 60-80% depleted range for an IMR will be in the 3.65-3.55V range. The Drok mah indicator matches up closely - charged from 3.8V only ~200mah went in, from 3.65V ~300mah went in. A screen shot from HKJs
comparator comparing the discharge curves for the IMR 15C to an ICR. The 0.1A curve is a close approximation of resting voltage (all my numbers are resting V).