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John Petersen  

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  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    I would not feel secure with any assumptions at this point. The landscape will be very different if LCB can advance its plan to a closed transaction, but until that happens anything can happen.
    Jul 28, 2015. 05:53 PM | 4 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    The definitive agreements will probably be filed with the SEC as material contracts when they're finalized and executed. They'll undoubtedly be far more precise and detailed than the LOI. We won't have any feel for the specific terms until the documents are finalized.
    Jul 28, 2015. 10:56 AM | 6 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    I'm not prepared to take either side of that argument Bob. I'm simply praying that the holders of B Warrants will take the opportunity to convert now instead of sitting on big piles of question marks.
    Jul 17, 2015. 06:05 PM | 6 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    Neither the SEC nor Nasdaq have the power to invalidate a binding contract, which is what the amendments to the B Warrants were.

    They do have the power to require Axion to seek shareholder approval for the amendments if it wants to retain a Nasdaq listing, but that process does not impact the validity of or otherwise abrogate the underlying contract.
    Jul 17, 2015. 01:58 PM | 7 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    As I understand the situation, the current conversion formula defines "Market Price" as the HIGHER of $0.10 or 85% of the 5 lowest VWAPs in a 15 day period. Nasdaq was apparently OK with that. The 14A seeks to eliminate the VWAP alternative in the conversion formula.

    As long as the VWAP is below ~$4, the $0.10 floor is the only thing that matters. The 14A is seeking to preserve that floor if the price suddenly skyrockets. Nasdaq thinks that requires stockholder consent.
    Jul 16, 2015. 12:14 PM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    Management did explain in the 14A. When they proposed a fixed price rather than a bifurcated variable price formula with a $0.10 base, Nasdaq took the position that it would be the equivalent of issuing a new security that represented more than 20% of the pre-change capitalization.

    As I read the documents, the B Warrant holders can in fact do their cashless exercise transactions now without any problems because they'll be working under the bifurcated conversion formula. The real issue is locking in the $0.10 equivalent cashless conversion price if the stock price climbs above the low $4s.
    Jul 16, 2015. 07:10 AM | 7 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    You can't do much better than being named as a development partner in the Report Overview, immediately following the Chairman's message, the CEO's message and the Report dashboard. Last time I checked Page 4 of anything is pretty prominent for a mere component supplier.

    I see no shame in being lumped into the same class as New York Airbrake and GE Transportation.
    Jul 15, 2015. 08:08 PM | 11 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    Al> As I understand the revised conversion formula the same number of shares will be issued upon cashless conversion of the Bs if the price is $3.49 or $0.01. The contracts are "Arthur Conan Doyle Specials" and the press release was clear as mud, but that's my understanding.

    Edmund> IIRC, the conversion formula is based on 125% of the straight calculated number (32.5 shares) or roughly 40.6 pre-reverse shares per B Warrant.

    It makes plenty of sense to hold B Warrants, but it makes no sense to exercise them and then pound the shares into the market without regard for demand.
    Jul 15, 2015. 07:22 PM | 6 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    The whole point of the B Warrant amendments was to eliminate the risk that price declines would further dilute the common. If the price of the post-split stock goes to a dime the B Warrant holders will only get about 1 post-reverse share per warrant.
    Jul 15, 2015. 03:48 PM | 6 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    The number of warrants does not change, but each warrant is now exercisable for 1/35 of a share rather than a whole share.
    Jul 15, 2015. 12:20 PM | 7 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    You forgot to divide by 35, so the net number is closer to 565,914 shares.
    Jul 15, 2015. 11:41 AM | 6 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    The new NS Sustainability Report is out. They're apparently happy with the way the NS 999 is performing and continuing work on developing an OTR locomotive.

    http://bit.ly/1TCq66W
    Jul 15, 2015. 09:42 AM | 7 Likes Like |Link to Comment
  • Axion Power Concentrator 401: July 10, 2015 [View instapost]
    It appears that the current contracts define "Market Price" as the HIGHER of $0.10 or 85% of the 5 lowest VWAPs in a 15 day period. The pending consent seeks to fix the "Market Price" at $0.10 and call it a day.

    It's one of those contractual fine points that won't become an issue unless and until the stock stabilizes above $4.12.
    Jul 14, 2015. 11:01 AM | 9 Likes Like |Link to Comment
  • Axion Power Concentrator 400: June 22, 2015 [View instapost]
    11.8 tons of annual CO2 emissions reduction equates to about 1,000 gallons a year of fuel savings. (22.38 pounds per gallon for diesel). That makes the cost benefit equation hard to justify. The only place the numbers make fundamental economic sense is the long-haul segment where a single tractor will consume 20,000 to 30,000 gallons per year. With energy requirements of 2.5 kWh per mile there's no way to get there with a battery dominant system.
    Jul 10, 2015. 12:16 PM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 400: June 22, 2015 [View instapost]
    As I understand commercial compressed air systems, the stored air does not spin a turbine directly. Instead, it's used to augment the pre-combustion compression stages for a conventional gas fired turbine which does wonderful things for systemic efficiency.
    Jul 10, 2015. 06:37 AM | 2 Likes Like |Link to Comment
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