My neighbour just bought some NOS laptop battery packs for the cells. He came round today clutching a Sanyo cell and his mutimeter. He'd put 4 cells in series (I presume he'd charged them prior to the test) and used them to power a 12V LED floodlight. The cells were probably around 2.6Ah but I didn't note the model number. As it happens I'd measured that lamp a few days before and it draws about 30W - it has 16 LEDs and must have a buck regulator as current halved at 24V.
At the start the battery voltage presumably would have been 4 x 4.2 = 16V, so the current draw would have been approx 1.88A at the start, increasing as the battery voltage dropped. At the end of one hour he stopped the test and measured the cell voltages. To his, and my surprise, 3 of the cells were reading around 3.93V - this after drawing at least 1.9A hours!
Even more surprising wa the cell he brought round - with his meter it was reading 4.42V! Clearly his meter was faulty so I checked with mine and measured 4.43V!
What is going on? I'm baffled.

I'm fairly sure these aren't protected cells so not seeing the ouput of faulty or unstable protection circuits. Are they in imminent danger of bursting into flames? Is my neighbour about to be become a multi-bilionaire having discovered cells that increase their capacity the more you draw from them? That would present an interesting philosophical question - would you allow mankind to draw on this apparently limitless power source, risking ultimate cataclysmic destruction of the known universe when the battery exceedes its (unpredictable) capacity limit at Giga/Terra/Peta/Exa or whatever Joules?
[EDIT] fixed a few typos.