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  • dance621
    , contributor
    Comments (162) | Send Message
     
    Last time I was first the price dropped 25%
    Apologies. I take full responsibility.
    1 May, 07:33 AM Reply Like
  • Josh Greene
    , contributor
    Comments (61) | Send Message
     
    So you couldn't have waited 5 minutes to post? :)
    1 May, 07:40 AM Reply Like
  • dance621
    , contributor
    Comments (162) | Send Message
     
    Hey! I am willing to take the responsibility for the reverse split pummelling. This one is on me.
    1 May, 07:43 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    I'll be surprised if the reverse split pummeling is severe or sustained.

     

    We all know there must be another financing round later this year or Axion will run out of money.

     

    If the stockholders give management the authority to effect a reverse split without requiring a stockholder vote on specific deal terms, management will be able to sit down with credible investment bankers and credible investors and negotiate a financing, reverse split and market upgrade package that makes sense for everyone.

     

    If the stockholders do not give management the authority to effect a reverse split without a stockholder vote on specific deal terms, the only investors that will be willing to talk are the financial carrion birds we've had for the last two rounds.

     

    There's no guarantee of a wondrous outcome if the consents are granted, but I can pretty well guarantee a bad outcome if the consents are withheld.

     

    http://bit.ly/1fw4xoU
    1 May, 08:04 AM Reply Like
  • DRich
    , contributor
    Comments (4421) | Send Message
     
    >JP ... But, ..... Ouch! So i begins. The dilution into oblivion of my original investment. I think it will be interesting to find out if those losses will be in the 10's, 100's or 1,000's of percentage. Only sales or some sort of "fair value" merger will tell the tale. I really have been hoping Axion would get to an exchange listing on it own merit & strengths ... once again, I was wrong.
    1 May, 08:43 AM Reply Like
  • LabTech
    , contributor
    Comments (1766) | Send Message
     
    DRich,
    Join the club. I know John's in much worse shape than me on purchased share price loss, but I went through a reverse split with ALTI and it wasn't pretty. I got out at about even, but they did a reverse split and then immediately sold 50% of the company to a Chinese investment group for a substantial discount compared to the RS price. Needless to say, the market price immediately went down to match and then ALTI spent years going up and down and worrying about staying listed on the NASDAQ.
    I just had hopped Axion would have gotten there without a RS, but after last year's financing, I guess that was just hopium.
    1 May, 12:54 PM Reply Like
  • iindelco
    , contributor
    Comments (8754) | Send Message
     
    John, TG said we didn't need another financing unless it was for capacity. :-P d-:
    1 May, 08:34 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    I'd give my eye teeth to see a financing round that had a big use of proceeds allocation for capacity expansion. The customers may be sadistic when it comes to maintaining secrecy, but no businessman with a modicum of common sense spends money building out capacity to manufacture a product he won't be able to sell.
    1 May, 08:56 AM Reply Like
  • ARGE
    , contributor
    Comments (717) | Send Message
     
    "no businessman with a modicum of common sense spends money building out capacity"

     

    Did you really need to insult A123? ;-)
    1 May, 10:29 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    You're right ARGE. I should have said "no businessman with a modicum of common sense spends *his own stockholders* money building out capacity."

     

    If you can shuck the cost of your improvident spending off on the taxpayer it's another story altogether.
    1 May, 11:49 AM Reply Like
  • dance621
    , contributor
    Comments (162) | Send Message
     
    I will be voting FOR. Management and BOD have the whole story. I am sure this is not a vanity move.
    1 May, 08:35 AM Reply Like
  • iindelco
    , contributor
    Comments (8754) | Send Message
     
    I will be voting for as it really doesn't matter. What matters is sales or a clear path to them. Are we there yet?
    1 May, 08:39 AM Reply Like
  • Milo2
    , contributor
    Comments (35) | Send Message
     
    iindelco, this is the bottom line truth of it. Debating the RS is fine, but largely irrelevant. Axion must produce sales of some sort in short order or the RS is moot. I'll vote for it or I'll sell my shares, but neither until this next report.
    1 May, 11:15 AM Reply Like
  • iindelco
    , contributor
    Comments (8754) | Send Message
     
    Milo, The numerous kinda signaled "sales within this time frame" are upon us. In a nut shell, we need sales or this is all lipstick on a pig. Right now all we've been served is squeal and you can't survive on it.
    1 May, 12:28 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2481) | Send Message
     
    "all lipstick on a pig."

     

    ii - are we following the Pied Piper?

     

    http://bit.ly/1rJnpkn
    1 May, 12:36 PM Reply Like
  • User550230
    , contributor
    Comments (30) | Send Message
     
    when should we expect to receive this notice and ability to vote? If for example we hold our stock in street-name at E-trade, will E-trade notify us there is a vote to be made?
    1 May, 09:08 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    Under SEC rules, a preliminary Notice of Consent Solicitation has to be filed 10-days before the proposed mailing date. If the SEC has comments on the preliminary filing, the mailing date could get pushed back. Otherwise I'd expect a definitive Notice of Consent Solicitation to be filed around May 10th with a mailing shortly thereafter.

     

    Once the definitive notice is filed, Axion will send copies to all brokerage firms that have clients who own shares in their brokerage accounts. Those firms will then be responsible for mailing the soliciting materials to their clients and tallying their client votes.

     

    You can expect to receive notice of this action from E-trade in due course. When you either grant or withhold your consent, the notice will be sent back to E-trade and they'll handle things from there.
    1 May, 09:29 AM Reply Like
  • AlbertinBermuda
    , contributor
    Comments (693) | Send Message
     
    JP

     

    All via Snail Mail I assume!

     

    By the time I receive my package in Bermuda the deadline will have passed.
    1 May, 10:39 AM Reply Like
  • H. T. Love
    , contributor
    Comments (17246) | Send Message
     
    User550230: I'm also at ETrade.

     

    In the past all notifications have been electronically delivered and contain links to the voting site where you can cast your share vote electronically.

     

    Just keep an eye on the e-mail. 'Course, you'll hear about it here first.

     

    HardToLove
    1 May, 01:31 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    <<<All via Snail Mail I assume!>>>

     

    @AlbertinBermuda: Don't worry, it will give TG plenty of time to announce those significant sales!
    1 May, 04:45 PM Reply Like
  • raleigh731
    , contributor
    Comments (281) | Send Message
     
    JP,

     

    I do have one other question as to the authorized shares. Since their number will not be changed (350 million) but issued shares will be split 1:20, that means (ballpark) 200 milliion issued shares becomes 10 million issued shares. Will that mean that the aurhorized shares available will be 340 million shares and not the 150 million shares I calculated before?
    1 May, 09:18 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    The preliminary filing says "The reverse stock split alone would have no effect on our authorized capital stock, and the total number of authorized shares (350,000,000) would remain the same as before the reverse stock split. This would have the effect of increasing the number of shares of our common stock available for issuance, which our board of directors believes is important to provide us with flexibility and as many alternatives as possible to obtain financing."

     

    There were 221 million shares outstanding on April 14th. So if we assume a 1 for 20 reverse split, there will be 11 million shares outstanding and 339 million authorized and unissued shares.

     

    As a lawyer I always authorize far more shares than my clients plan to issue in the short term. ePower, for example, has 80 million authorized common shares even though we only have 9 million shares outstanding. If you look at Tesla, they have two billion authorized shares and 123 million outstanding.

     

    Worrying about the total number of authorized shares is a lot like worrying that a woman will become a prostitute because she has all the standard equipment for that job.

     

    Authorized and unissued shares are standard equipment in every corporation. It is the board's responsibility to use that standard equipment wisely.
    1 May, 09:36 AM Reply Like
  • Mr Investor
    , contributor
    Comments (2476) | Send Message
     
    As best I can remember, I've never been a part of a reverse split where the authorized number of shares was also split---it's been outstanding shares only.

     

    I've also been part of a recent reverse split where the split intention was announced beforehand, like here.

     

    Not seeing anything unusual here, for better or worse.
    1 May, 11:53 AM Reply Like
  • greentongue
    , contributor
    Comments (731) | Send Message
     
    Doesn't this also mean that a new investor can take control of the company? Before the shares were spread between many investors but with 340 million shares available and only 10 million in the hands of current investors, control can be purchased for "chump change".

     

    Nice setup by the new addition to the BOD.
    1 May, 02:50 PM Reply Like
  • H. T. Love
    , contributor
    Comments (17246) | Send Message
     
    John: "there will be 11 million shares outstanding"

     

    This raises in my mind comments you've made in the past about the need for liquidity for appreciation and "healthy" trading.

     

    If we presume a substantial portion of the 1MM are in the hands of the Axionista, and other "strong hands", do you foresee any possibility that we end up back having problems related to low average daily trading volume, such as you've mentioned related to Axion's early days?

     

    Thanks,
    HardToLove
    1 May, 03:02 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    Greentongue> Tom Granville has had all the experience he wants with investors who control too much stock in his company. IMO the odds that he'd let somebody buy control for any price are approximately zilch.
    1 May, 03:27 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    I do worry that our next stage will be supply side problems that reduce liquidity in the short-term. As the price seeks a fair level after four years at a ridiculously low level that issue should resolve itself.
    1 May, 03:28 PM Reply Like
  • H. T. Love
    , contributor
    Comments (17246) | Send Message
     
    Thanks John! BTW. I had a typo - s/b 11MM.

     

    HardToLove
    1 May, 03:34 PM Reply Like
  • LabTech
    , contributor
    Comments (1766) | Send Message
     
    John,
    I think we should worry about it. Considering that the 14A suggests a RS of 1:20 up to 1:50 one could argue a target price of $5/share (assuming a current price as low as $0.1/share. So we suddenly go from traders who were spending $10,000 to buy 100,000 shares to traders who would be spending $10,000 to buy 2000 shares. Unless the NASDAQ listing brings in a lot of hot money, I see us back to the days where a busy day is 40,000 shares traded. IMHO
    1 May, 05:07 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    40,000 shares of a $10 stock would be good liquidity. To put things in perspective, the 200-day VWMA dollar value of daily trading is $155,155 so $400,000 a day on NASDAQ would be a nice step up.

     

    The biggest problem with the OTCBB is the number of investors who simply won't go there. The penny stock world sucks and we need to get out of purgatory as quickly as possible.
    1 May, 05:15 PM Reply Like
  • D-inv
    , contributor
    Comments (3882) | Send Message
     
    "The penny stock world sucks and we need to get out of purgatory as quickly as possible. "

     

    Selling PbC batteries on the scale intimated by Thomas Granville is necessary to do that.
    1 May, 05:26 PM Reply Like
  • Hard Chine
    , contributor
    Comment (1) | Send Message
     
    I've been lurking for a couple of years but think that now I should make a comment. I'm a retired boat mechanic with decades of experience setting up battery power systems for cruising sailboats and I know the foibles of LA batteries all too well.

     

    I only started investing in 2012 and soon encountered Axion, who seem to have a technology that directly addresses a couple of the features of standard lead/acid batteries I found so limiting, namely deterioration from being kept in a partial state of charge, and limitations on charge acceptance. It is obvious to me that the PbC has a valuable place in the world, assuming that what we think we know about the characteristics of the PbC is true.

     

    So I started buying AXPW shares, and every time the share price went down, I would re-examine the proposition, say "hey, they're on sale" and buy more. I now own over 0.1% of the company, stupid for a man of my limited resources perhaps, but count me a believer in the technology.

     

    I shall be voting for the reverse stock split, and the reason is that I think we have to put our trust in Mr Granville, else we should bail. I know Mr Granville gets some flack on this board, and probably deserves it, but let me give you a mechanic's perspective: Axion started by buying a battery plant out of bankruptcy, a brilliant move for getting into the battery manufacturing business for real without paying retail for a new factory. Excellent: the guy's cheap, which I like. But did you notice, on a conference call a year or so ago, a quiet boast from Mr Granville about an exceptionally low defect rate on the batteries made under the tolling contract? He's cheap, but he cares about quality. Concern for quality starts at the top, and it really matters to us: a bad batch of batteries can absolutely kill us on the market. Look at what happened to Aone.

     

    So I have my hopes and fears, but as long as management seems honest, and strives to produce a high-quality product, I'll grit my teeth and wait for the world to discover it.
    1 May, 09:21 AM Reply Like
  • tripleblack
    , contributor
    Comments (13441) | Send Message
     
    Welcome aboard, Hard Chine. I wish I was one of your customers!
    1 May, 09:44 AM Reply Like
  • geopark
    , contributor
    Comments (250) | Send Message
     
    Thanks for your thoughtful comment Hard Chine and welcome. Your perspective from a practical hands on point of view is refreshing and encouraging. All the best.
    1 May, 11:14 AM Reply Like
  • SMaturin
    , contributor
    Comments (2099) | Send Message
     
    Outstanding first post, Hard Chine!

     

    Welcome aboard.

     

    You nailed the essential point in my mind: "I shall be voting for the reverse stock split, and the reason is that I think we have to put our trust in Mr Granville, else we should bail."

     

    Steady as she goes, Captain!
    1 May, 11:40 AM Reply Like
  • Retired Aviator
    , contributor
    Comments (1443) | Send Message
     
    "Excellent: the guy's cheap"

     

    Didn't the purchase of the New Castle plant occur before TG was on board though? Maybe I'm wrong on that.

     

    Second, while I agree that frugal tendencies are excellent qualities for management, I think shrewd financing moves are even more important when you have to go to the capital markets again and again.

     

    Axion gets poor grades in that area. When the PIPE deal was first announced, I believe TG said he was "pleased" to announce it. We borrowed $9M but only got $8.28M since the placement agent sucked out $720k like a vampire (twice TG's salary for what, a month's work?). There was a provision that even if Axion filed the registration documents with the SEC timely on new share issuances, if the SEC failed to process them timely Axion's interest rate immediately shot from 8% to 18%. Etc, etc.

     

    I know some will argue that there was no other choice than the PIPE deal's 'non-negotiable' draconic terms. That's bs. We are constantly told how CEO's are worth their high price because they are so talented. Let's see some talent and creative juices applied to the area of financing which is obviously so absolutely critical for shareholder well being.
    1 May, 12:14 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    Tom has been running Axion since April 4, 2005. It was not a job he wanted but he stepped into the breach when several of us became convinced that the company would tank without him at the helm. Tom made a lot more money and had a lot more fun before he took the CEO position, but some sacrifices are worth making.
    1 May, 12:26 PM Reply Like
  • Retired Aviator
    , contributor
    Comments (1443) | Send Message
     
    JP> Maybe we should put somebody at the helm who wants the job and thinks it's exciting and fun? That's an important quality to me.

     

    I try to give TG the benefit of the doubt but with each passing (abbreviated) conference call and release that I find communication to be lacking I lose some confidence. Many things are out of the CEO's control but clear and ample communication to the owners is not among them.
    1 May, 12:50 PM Reply Like
  • Mr Investor
    , contributor
    Comments (2476) | Send Message
     
    I'll also jump on the welcome wagon for you, Hard Chine! Great to hear from a lurker.
    1 May, 01:52 PM Reply Like
  • H. T. Love
    , contributor
    Comments (17246) | Send Message
     
    Hard Chine: Welcome and a question. You might know we've had concerns about "good enough" batteries eroding our potential market.

     

    Have you had any experience with AGM and/or "carbon-enhanced" batteries, such as those from Trojan? The Ultrabattery from East Penn (Dekka IIRC)? Furakawa?

     

    If so, any experience you can share?

     

    Thanks,
    HardToLove
    1 May, 02:10 PM Reply Like
  • Noahfreak
    , contributor
    Comments (24) | Send Message
     
    You've got to remember what Axion was up against when they did the financing too. Small revenues and big liabilities. They were desperate and the PIPErs knew it. I'd say it's a testament to management's prowess that the company even still exists. I'd say now they're sitting pretty, relatively speaking.
    1 May, 05:18 PM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1462) | Send Message
     
    We knew the path we were on. We had to sell batteries and then sell shares. Apparently the "sell batteries" announcement is only days away, IF Mr. Granville is to be trusted. Why then muddy the waters with this reverse split? It comes at a most inopportune time and brings a whole new set of questions, uncertainties and risks.

     

    Move up the CC, give us a honest and frank accounting of the path forward, make the case for any uplisting. And split the authorized shares. Where is the nod to the current shareholders or their loyalty?

     

    My 130,000 shares are screaming 'not so fast, please'.

     

    Can anyone make a case for why they would move forward with this initiative BEFORE making the announcement of "significant sales"?
    1 May, 09:28 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    Axion will not implement a reverse split in a vacuum.

     

    It is seeking pre-authorization for a reverse split when the time comes for a new financing and a market upgrade.

     

    The OTC markets are a tremendously difficult place for companies because credible investment bankers and investors hate investing in OTC stocks. Every OTC client I've ever had did everything possible to get a market upgrade as quickly as possible.

     

    We know another financing will be needed. If we want the financing to come from credible counter-parties instead of carrion birds management must have the ability to act without putting everything on hold while they seek stockholder approval.

     

    Sending management on a quest to find new financing on reasonable terms is foolish if we don't give them the tools they need to bring credible counter-parties to the table.
    1 May, 09:49 AM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1462) | Send Message
     
    THanks for the reply, JP.
    The announcement of "significant sales" we have been promised and waiting for (not just for the past 6 months or 44 days) is in the next two weeks.

     

    What I am seeking to understand is why or how the timing of this announcement makes sense. What is it saying about the announcement that WAS announced? More likely to be the good news, or more likely to be something less, than what he led us to expect?
    1 May, 09:57 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    The process of dealing with the SEC and then collecting the requisite stockholder consents takes time. At a minimum you're looking at 30 to 45 days and if the SEC has any comments, the timeframe could be longer.

     

    When a company like Axion sits down with a credible investment banker or investor the first objection to hit the table is always the OTC listing. When an executive says "We can get the stockholders to approve a reverse split in connection with a financing transaction and a market upgrade," the first thing the counter-party says is "Go get your stockholder approval and come back when you're ready to close a deal."

     

    This solicitation of consents has nothing to do with the timing of expected sales announcements and everything to do with putting management in a position where they can negotiate and close a reasonable transaction without months of delay between the hand-shake and the movement of money.
    1 May, 10:06 AM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1462) | Send Message
     
    I can only reply by saying that, IMO, stockholder approval would have been GUARANTEED by TG's following through with his announcement of "significant sales".
    1 May, 10:13 AM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2481) | Send Message
     
    EM - Agreed.
    1 May, 10:29 AM Reply Like
  • H. T. Love
    , contributor
    Comments (17246) | Send Message
     
    EM: "GUARANTEED by TG's following through with his announcement of "significant sales".

     

    +1.

     

    HardToLove
    1 May, 12:16 PM Reply Like
  • bazooooka
    , contributor
    Comments (2322) | Send Message
     
    JP, if this process can take months then why didn't TG bring it up before the last call I'm wondering. By waiting until now he has little time to gather support before a vote plus there will be a whole month before we hear him articulate his reasons.

     

    Do you expect Axion to reach out and explain why this is a good idea or do we just have to all speculate? I'd think if I needed 110M+ votes I'd do some campaigning. Normally something like this would have no chance. TG is lucky to have someone like you who can help give 'potential' insights into what Axion 'may' be thinking. Nevertheless I would rather hear it from the horse's mouth.
    1 May, 12:46 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    I think Tom knows he has a selling job in front of him because he has to explain why this makes sense. I can talk from the shoes of a corporate lawyer who's been through this drill before, but this is ultimately a marketing job that can only be done by management.
    1 May, 12:50 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2481) | Send Message
     
    "this is ultimately a marketing job that can only be done by management."

     

    This will be interesting.
    1 May, 12:55 PM Reply Like
  • RuggedDC
    , contributor
    Comments (182) | Send Message
     
    Per the filing, the marketing job can also be delegated, for a mere $25,000, to a third party who will make a few phone calls to larger shareholders to make sure they remember to vote.

     

    And, if the positive votes don't just roll in, Axion can delay the voting (consenting) process conclusion if they decide they REALLY need to hustle it.
    1 May, 01:10 PM Reply Like
  • Masi
    , contributor
    Comments (422) | Send Message
     
    I agree with Edmund Metcalfe. I would not have spent the money I did adding to my share count just to lose 95% of them. I feel completely betrayed. This announcement should have come during the last CC not a couple of weeks before the upcoming one. I have spent several years building up my shares to reach a goal I had set. That was in between managing the share purchases of other companies that were decided allowing for my investment in AXPW.

     

    $2 X 100,000 shares blows away $2 X 5000 shares. (if it's 1 for 20) I can not post the words I would like to use to explain how I feel.
    1 May, 02:19 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2481) | Send Message
     
    "I can not post the words I would like to use to explain how I feel." - I wish you would.
    1 May, 02:24 PM Reply Like
  • Ranma
    , contributor
    Comments (1400) | Send Message
     
    I think many of you are blowing proportions out of the water in regards to the damage a R/S will have. Some stocks have fallen, but many recover, and many more stay more or less the same. We are our own worst enemy here since we own most of the shares. If anything, AXPW should be a shining example of when an R/S does work, if we aren't trying to jump in front of each other to get out.

     

    Bottom line, just because a R/S happens, does not mean the share price will fall back to where it was. That's ridiculous. It's not the share price that matters (except to small pocket retail) but the market cap! The market cap is what determines if a stock takes off, because institutional money dwarfs a measly 20m or so cap we have today. A share price in the dollars didn't stop PLUG from running up did it?
    1 May, 02:31 PM Reply Like
  • blauschuh
    , contributor
    Comments (55) | Send Message
     
    x2 Masi.

     

    Swindled may be too harsh a word. It's not just this announcement though, but this just tops the cake.

     

    I don't really understand the timing of this announcement. We've been hearing for months now that we just needed to clear out the PIPErs in order to let the stock take a breather as the downward pressure would be in the rear view mirror. It only seemed logical. We're literally a week into the clear (at least judging by the finra % JP points out) and now this. Couldn't this have waited a mere month?... surely once a solid 15 cent floor had been established many investors may have started dipping their toes in again.

     

    I'm going to sit tight for a bit and try not to make any rash decisions like dumping all of my shares. The thought crossed my mind today. It has more to do with the fact that there have been ZERO sales announcements.

     

    It's 5-1-2014 and we have ZERO sales. We all heard TG say how "excited" he was going to be "44 days from now". TG has to know by now that when it comes to the CCs his every sentence is parsed and dissected. I keep thinking about his mentioning how he would have loved to have "6 to 8" deals "wrapped up" or some such language like that. A logical conclusion from a statement like this is that he's got 6-8 close or even imminent deals that are almost done.

     

    Until proven otherwise TG is shaping up to be quite the cunning operator. Leave just enough morsels on the table to get the investor base's saliva going to buoy the stock price only to produce nothing of substance... again.

     

    When you factor in dilution this is looking more and more like a long term break even after waiting an eternity.......
    1 May, 04:51 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    <<<<Can anyone make a case for why they would move forward with this initiative BEFORE making the announcement of "significant sales"?>>>>...

     

    I'll use the principal of....um... Occams Razor...to answer that one: He doesn't have any "significant sales."

     

    Tom (Vani), please prove me wrong at the next CC, because it's starting to look like the Emperor has no Clothes....
    1 May, 05:00 PM Reply Like
  • DRich
    , contributor
    Comments (4421) | Send Message
     
    >Occam's_Razor ... Can't put truth to your opinion, but the odds ( and history) are heavily in your favor.
    1 May, 05:09 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    I will be more eager than normal for the next conference call. After "sleeping on it" last night, I still hold hope (how pathetic is that) that Tommy Boy is merely threading a needle here. Let me explain:

     

    For example: if Tom really *does* has something significant to report (i.e., his "it's only 44 days to the next conference call" carrot on a string), then he and Vani fully expect to have *announced* the infamous significant sale(s) around the SAME TIME that we Axion-aficionados, are preparing to vote our shares for the RS. This would be a good thing and he would have my full support for the RS.

     

    On the other hand... if he "has no clothes" (to borrow from my analogy above), then he will have 0 support from me and, hopefully, very little support from the vast majority of the Axionistas.

     

    Sans "signifcant sales," I will not be diluted to oblivion while Tommy, Vani, et al. bonus themselves while jawboning "blue sky" scenarios.

     

    One final footnote: I no longer consider myself an investor in Axion Power, I'm now squarely in the speculator camp.
    1 May, 05:18 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    blaushcuh> I agree the timing was crappy, but if I was in management's position and had solid news coming I'd want to get everything that could be perceived as a negative on the table before I started talking about the good stuff.

     

    It would really suck to have a series of solid sales announcements that were torpedoed by the fairly innocuous news that a reverse split would probably be required by new investors.

     

    Axion had 221 million shares outstanding on April 14th. With that many shares outstanding it can't upgrade to NASDAQ with a market capitalization of less than $670 million. If you reduce the number of outstanding shares the market upgrade becomes a piece of cake.
    1 May, 05:18 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    <<<<This announcement should have come during the last CC not a couple of weeks before the upcoming one.>>>>

     

    @Masi: I'm not trying to defend Tom here, but I believe if he was still under duress issuing shares to our PIPE brethren, then he needed wait (or face a share price collapse).

     

    If "significant sales" are around the corner, this Reverse Split is a non-event. If not, well.....
    1 May, 05:31 PM Reply Like
  • 481086
    , contributor
    Comments (3297) | Send Message
     
    WRT timing, We have no idea really of the internal dynamics of the BOD, particularly with a major new member weighing in, as well as all the other possible developments that could be in play. For whatever reason, if the idea was indeed even being considered circa the last CC, it was evidently not yet the time to talk about it.

     

    But now here we got notice on the first of this month. Two weeks for shareholders to digest, discuss and hash it out before the big CC, where obviously the RS will be a major topic and draw many questions. I see the CC as TG's planned opportunity to make his case for it and present any new items of good news in support. Then shareholders will have a full month to further consider and vote. All seems fairly reasonable to me.
    1 May, 05:56 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    <<<I agree the timing was crappy, but if I was in management's position and had solid news coming I'd want to get everything that could be perceived as a negative on the table before I started talking about the good stuff.>>>>

     

    John, let's *hope* (there's that word again) that is the case.
    1 May, 06:02 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    If I'm in a management role and have good news coming I want to be absolutely sure that I have every perceived negative on the table in plain view before I break the good news.

     

    Anything less is torpedoing your own PR.
    1 May, 06:02 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2481) | Send Message
     
    John,

     

    I agree with you in principle that is how you would want things to go, but this management has been afforded every benefit of the doubt from 95% of the people on this forum who apparently make up the majority of holders of Axion stock.

     

    At what point will you say hell's bells, something just isn't right? Ed Bueil did it, the Rosewater crew did it, did Kirk Tierney do it too? The last CFO who left the company shortly before this R/S? A number of other people have left the building as well that I just can't recall at the moment.

     

    Is there anything that would make you say something stinks in New Castle?
    1 May, 06:27 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    <<<<Anything less is torpedoing your own PR.>>>>>

     

    Agreed... and good point.
    1 May, 06:44 PM Reply Like
  • Patrick Young
    , contributor
    Comments (940) | Send Message
     
    >>I agree the timing was crappy, but if I was in management's position and had solid news coming I'd want to get everything that could be perceived as a negative on the table before I started talking about the good stuff.<<

     

    Exactly my thought. This is the best indication yet that something big is in the bag. TG has every right to shake weak hands out before going prime time.

     

    That being said, even if TG can execute this maneuver, he still needs to prove he can market the stock effectively. I think JP agrees that management hasn't given market sentiment enough appreciation in the past.

     

    EDIT: a lot of us agree that sales are secondary to the loosening of the NDA's. Having a couple Tier 1 institutional investors batting for you should definitely help alleviate our "fog of war" problem.
    1 May, 07:56 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    Mr. Young writes: <<< a lot of us agree that sales are secondary to the loosening of the NDA's.>>>>...

     

    I'll take the other side of that statement. Sales are far more important than the loosening of the NDA's.

     

    Tight lipped NDA's among top-tier OEM's do not concern me; lack of sales from said NDA's, however, trouble me immensely.
    1 May, 08:31 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    It's important to remember that almost everyone who's testing the PbC is doing so for battery dependent machines they want to make, rather than battery dependent machines they already make.

     

    The automakers already have battery solutions for Gen1 micro-hybrids. They may not be optimal solutions but they're obviously adequate solutions.

     

    The application where the PbC is the only game in town is Gen2, cars that will launch when the automakers pull the trigger. The same is true for the NS 999.

     

    When you get to the stationary markets almost every system that's ever been sold was paid for by taxpayers. Since Axion already has one credible sale under its belt to a customer that spent its own money, we're way ahead of the pack.

     

    The bottom line is that all of Axion's potential customers will make their buying decisions on their own timetables and our opinions don't matter one iota.
    1 May, 08:43 PM Reply Like
  • Ranma
    , contributor
    Comments (1400) | Send Message
     
    Biotech companies get sky high valuations with no sales. Any tier 1 design wins should garner AXPW the same. Design win >> small sales. Especially on NASDAQ!

     

    If this R/S and uplisting is a prelude to a big NSC announcement, then TG and probably the new board member should be hailed for a masterful stroke.
    1 May, 09:00 PM Reply Like
  • Masi
    , contributor
    Comments (422) | Send Message
     
    Thanx 48 for your comment. it makes me feel somewhat better. My first reaction too, was to sell my holdings. In my almost two decades of investing I have seen the share price and market cap of the large majority of companies who do a RS, revert back to, or close to where it was before the RS. But, leaving you with only a small fraction of the shares. I can't even think of a company that did pull through. Wait, yes I can, Citigroup. We are not Citigroup.

     

    I felt like I was kicked in the gut. Now we are being asked to forfeit maybe 95% of our holdings while the company (who we supposedly own) keeps it's shares on the shelf. There better be a 50 Million Dollar order coming from NS announced in the next CC or a 300 Million Dollar line of credit. (exaggerating, maybe) I, like many here have made many many hard thought out decisions over the past 5 years about, if, when, how many shares to buy or even to remain a share-holder. Bought many shares during the PIPE deal to help support the price of the stock and the company, of course all the time thinking of the rewards possible. The amount of the shares owned was a major factor in the reward for all that time and effort and risk because if the stock price went only to a dollar I would have been a reasonably wealthy man. Now if there is a 1 for 20 stock split the stock price will have to reach $50/shr for the same reward. I just don't see that happening in the next couple of years. A dollar I could see, not 50.

     

    Is there anyone here who has seen a small company come back from this?.. Before today I was not even thinking about selling a single share. Earlier this morning I transferred more funds into the account to buy more. So I guess I have to ask, what has changed with the company. Really nothing except, that I am going to be relieved of just about all my shares. Maybe if they offer warrants or something so I could buy them and later convert every 1 of them into 20 common shares. I don't know. I feel like such a tool.
    1 May, 10:44 PM Reply Like
  • LabTech
    , contributor
    Comments (1766) | Send Message
     
    John,

     

    " by the fairly innocuous news that a reverse split would probably be required by new investors."

     

    I'm sorry, but to many of us long term investors in Axion, a 1:20 to 1:50 reverse split, when we are already in the hole by 3 to 10 fold (yourself included) doesn't fall under the category of "innocuous". I'll accept that, since Axion hasn't been able to get the stock price up with actual sales, that it is necessary to move the company forward, but it still means that many of us will probably never see our principle investment returned, much less make a profit. I'll vote for the RS because it's what is best for the company, but I'm not going to pretend that I like it.
    1 May, 10:53 PM Reply Like
  • Sohkubo
    , contributor
    Comments (98) | Send Message
     
    > "Now we are being asked to forfeit maybe 95% of our holdings"

     

    Whoaaa, that's not what we're being asked to do. The reverse split itself forfeits 0% of our holdings. If there's a 20:1 reverse split then you'll have 20 times fewer shares but their value will be 20 times higher.

     

    The next financing will cause dilution, but by how much we don't know because said financing has not yet been arranged.

     

    Again I'm quite new to this so I may be wrong, but some of us seem to have quite exaggerated idea of the actual effects of a reverse split (and elsewhere the importance, or IMO lack of importance, of the authorized share count).

     

    EDIT: I must be misreading you masi because you say you have 2 decades of experience and I have 2 months. I apologize if my tone or facts are out of line.
    1 May, 11:00 PM Reply Like
  • Treehill
    , contributor
    Comments (105) | Send Message
     
    Sohkubo your comments aren't out of line. Your assessment is correct - a reverse split leaves the value of your holdings the same. What Masi is saying makes no sense.

     

    I haven't been involved in many reverse splits. One recent one I remember though is ZBB, which did a 5 for 1 reverse split last October. Masi might want to look at ZBB's stock chart to see how that turned out.
    1 May, 11:36 PM Reply Like
  • Mr Investor
    , contributor
    Comments (2476) | Send Message
     
    Wow. The ignorance by quite a few here is overwhelming. Sorry, but I no longer see any benefit in posting.

     

    Goodbye and good luck.
    2 May, 12:21 AM Reply Like
  • Masi
    , contributor
    Comments (422) | Send Message
     
    Sokubo, A reverse split means, in this case, for every 20 shares you own you will now own 1. 1for20. When I said holdings, I was talking about share amount not cash value. You are correct in that the share price will increase by a factor of 20 but that in no way means it will remain there. If it was done right now (it is not) the price would be 20 x .13 or $2.6. There are way to many factors to mention that will effect the price and why. But in my experience when "the market" sees the price has jumped to $2.60 and shows a 2000% price increase, many jump in to catch a rising star hoping for an even further move up. This will push the price up but when the majority sees it was a RS even more people will run for the hills driving the price down. Now, here come the many factors. If "the market" shows that the price
    has had an average price range of .14 to .15, the majority of times (not all) the share price will go back to that price. It could happen right away (days to a few weeks) or most of the time take several months but with wild swings along the way. A traders dream if you have the stones. If there is a steady stream of good news the price will stay aloft or shoot higher. A lot of times as mentioned by a few here, companies try a RS to remain on the NASDAQ either by price or market cap, this most of the time decided by the SEC. If the price of a stock has fallen so much that it is being de-listed from the NASDAQ, then if what ever caused the price drop to begin with hasn't changed, most of the time the price will continue to drop. There are other factors that cause a price to drop other than bad sales. Fraud, weather, war, political, geo political, changes in mgnt, sector out of favor etc, etc. BUT, The fundamentals of a company will be the rule.

     

    Our situation seems to be the opposite. It seems that we may be trying to get on the the NASDAQ and/or trying to get funding. The amount of funding and the terms will be a factor in the price staying aloft or rising and/or sales. Or the price falling. Many funds or large investment groups can not buy a stock if the price is not at least $5 and been there for a set amount of time. If this is achieved big money could start flowing into the stock and send the price soaring. like I said, many factors are involved.

     

    I hope this helps you some in your decision making. I feel we are in for a very exciting or nerve racking two weeks.
    2 May, 12:42 AM Reply Like
  • Sohkubo
    , contributor
    Comments (98) | Send Message
     
    So, we can agree that while a reverse split doesn't affect the actual share value, the psychology of the irrational market can affect it.

     

    But come on, a 95% drop? - the market's not THAT irrational. Suppose after the dust settles on the split/financing/uplist... the company has a market cap of $50M. If it loses 95% of that then the entire company is valued at $2.5M. That is ridiculous. EDIT to add: especially since the company will after financing have $10M+ cash.

     

    Again, apologies for my tone.

     

    https://xkcd.com/386
    2 May, 12:53 AM Reply Like
  • Masi
    , contributor
    Comments (422) | Send Message
     
    Sohkubo, I said a 95% loss of shares owned (holdings not value) not price. If you own 100,000 shares before the reverse split of 1 for 20. That means 100,000 divided by 20 or 5,000 shares left after the split. 5,000 divided by 100,000 = 0.05 which equals 5%. That is 95% less shares than I originally had. Make it smaller. If you start out with 100 shares and now you have 5 shares, you lost 95% of your shares.
    2 May, 01:06 AM Reply Like
  • Masi
    , contributor
    Comments (422) | Send Message
     
    Correction!
    "the stock price will have to reach $50/shr for the same reward. I just don't see that happening in the next couple of years. A dollar I could see, not 50."

     

    I meant to type $20/shr in my earlier post. I apologize for the error. I am still recovering from major surgery and am still in need of another one. Excruciating pain can overwhelm your train of thought and make one very cranky. Probably the reason for the foul language in one of my earlier posts.
    2 May, 01:19 AM Reply Like
  • Sohkubo
    , contributor
    Comments (98) | Send Message
     
    Technically you did say that, so I did perhaps misread you. But... share count by itself just seems irrelevant. Everyone else technically lost 95% of their share count too. I still don't understand why that would matter a whit.

     

    You did also just say the price would likely fall back to $0.15 though, which is a loss of ~95% and a market cap far less than the book value of the company.

     

    I'll leave it at that for others to agree/disagree though, because I'll probably be like a dog with a bone. Thanks for the reply though, Masi.
    2 May, 01:21 AM Reply Like
  • Sohkubo
    , contributor
    Comments (98) | Send Message
     
    Masi, sorry to hear about your surgery. As a fellow crank, I hope I'm not contributing to your crankiness myself! - by no means is my disagreement personal.
    2 May, 01:30 AM Reply Like
  • Masi
    , contributor
    Comments (422) | Send Message
     
    It's not irrelevant to me. I would very much rather have 100,000 shares of a stock going up $1/shr than 5,000 shares going up in price by $1/shr. $95,000 is a lot of money to me, way more than $5,000.

     

    The market cap now is way less than book.

     

    The RS has not happened yet and I will not be happy with losing 95,000 shares if it does. It took me 5 years to acquire that amount of shares. That is a lot of discipline and decision making through all of the ups and downs of this company. I worked hard to earn the money to buy those shares and that is not trivia to me. How did you put it? ""I still don't understand why that would matter a whit.""

     

    The price of a stock changes minute by minute so when it does split, the price or stock worth will only be equal to what it was before the split for about one second. where it goes from there is anyone's guess.
    2 May, 01:36 AM Reply Like
  • isthisonebetter
    , contributor
    Comments (228) | Send Message
     
    Mr I,

     

    I sincerely hope you continue to post. I, for one, find your posts very beneficial. (Unless you are referring specifically to this thread - then I understand)
    2 May, 01:44 AM Reply Like
  • Masi
    , contributor
    Comments (422) | Send Message
     
    No, I am not taking it personal at all. It just sounds to me that you are trying to learn. But I hope you do get that if you own 100,000 shrs and the price moves up one dollar, your net worth has just increased by $100,000. That was my whole strategy over the 5 years. If/when the company did break out, a dollar/shr would not be that hard to reach but 20 is alot tougher.
    2 May, 02:08 AM Reply Like
  • Bylo-
    , contributor
    Comments (388) | Send Message
     
    I had an experience with a reverse split of an internet stock I owned back in the early 2000's. I was buying it down from $2 until it finally hit ~$.90. I bailed. It continued down to about $.30 and I got back in.
    Reverse split 1:10. My shares are now $3 each. A week later they dropped to $2.50. I almost bailed again but decided to ride it into the ground. I got lucky. The company announced they had large sales of their new game changing internet wizz-bang and it got noticed. They also got listed on NASDAQ. The share price shot to $9 and plateaued at about $9.50. A week later, I sold. A week later it was $15. A month later it was $65!

     

    I think I'll hold on to my AXPW.
    2 May, 11:23 AM Reply Like
  • geopark
    , contributor
    Comments (250) | Send Message
     
    Great story and well told Bylo-

     

    Mind sharing the name of the stock?
    2 May, 11:40 AM Reply Like
  • Bylo-
    , contributor
    Comments (388) | Send Message
     
    I thought it was FNSR but when I look at the chart, it must have been something else. At the time I was "trading" instead of "investing" and getting killed from the commissions.
    2 May, 03:13 PM Reply Like
  • geopark
    , contributor
    Comments (250) | Send Message
     
    No prob, thanks Bylo-
    2 May, 03:25 PM Reply Like
  • Mr Investor
    , contributor
    Comments (2476) | Send Message
     
    Premkt says we're headed lower at the start...
    1 May, 09:29 AM Reply Like
  • Treehill
    , contributor
    Comments (105) | Send Message
     
    I'm another that will be voting for the reverse stock split. In my view a NASDAQ listing considerably improves the number of people that are likely to buy the stock. As a Canadian, up until now I have only been able to buy Axion stock in a non-registered account. That means that any funds that had been placed into retirement oriented accounts (i.e. RRSP and TFSA) were not available for buying Axion. In retrospect this was probably beneficial for me, as it prevented me from buying a lot more shares than I did. It also meant that any gains from Axion stock appreciation (whenever that finally happens) would not be tax sheltered. So for me, a NASDAQ listing could be very valuable.

     

    I have friends that I have recommended Axion to in the past and their intention to purchase died as soon as they found out that it wasn't listed on a major exchange. So in my experience, not being listed has been a major negative in attracting new investors to this stock.
    1 May, 09:35 AM Reply Like
  • nogoodslacker
    , contributor
    Comments (864) | Send Message
     
    I have no problem voting for a reverse split. However, this will also give them the power to dilute existing shares by 35-to-1. Given that they would have this power, should we trust them not to use it? I could live with a potential for 2-to-1 dilution, which I fully expected to happen in the next financing, maybe even 5-to-1 to give more flexibility for future financing, but not by a factor of 35.

     

    JP argues that this is no big deal and that lots of companies have huge share authorizations they don't use. However, are those companies running out of cash and facing an imminent recapitalization? We voted to increase shares last year and, when you consider the warrants plus shares issued under the PIPE, they used up most of what we authorized. So we should trust them not to do it again?

     

    This huge number of authorized shares is a deal breaker for me and I can't vote for it unless they reduce the post-split authorized share count to something less than 50 million (which still gives the power of a 5-to-1 dilution).
    1 May, 10:17 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    If you don't trust the board of directors to act responsibly in connection with future stock issuances then you should sell and not look back. It really is that simple.

     

    Worrying about authorized shares is no better than worrying that a woman will become a hooker because she has all the required equipment.
    1 May, 10:21 AM Reply Like
  • nogoodslacker
    , contributor
    Comments (864) | Send Message
     
    JP, inappropriate sexist metaphors aside, I trust this BOD to do whatever it is we authorize them to do. A 35-to-1 authorized-to-existing share count is too big. It is way bigger than even the 20:1 ratio you gave for your TESLA example and way way bigger than the 8:1 example you gave for ePower. I have no problem with raising the ceiling by an appropriate amount, but I'm not voting for this unless they revise it.
    1 May, 10:33 AM Reply Like
  • nogoodslacker
    , contributor
    Comments (864) | Send Message
     
    JP, you keep telling me I should sell based on my outlooks, and I keep telling you you should buy based on yours. Yet we both seem to maintain a hold rating. At least we have that in common.
    1 May, 10:36 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    While it's nobody's business but my own, every penny of my available liquidity is being used to offset the salary I'm not drawing as an executive officer of ePower. I haven't been so cash poor and opportunity rich since I graduated from law school, but some sacrifices are worth making.
    1 May, 11:54 AM Reply Like
  • nogoodslacker
    , contributor
    Comments (864) | Send Message
     
    I sincerely wish you the best of luck and that your sacrifices pay off handsomely.
    1 May, 12:09 PM Reply Like
  • Mr Investor
    , contributor
    Comments (2476) | Send Message
     
    Ngs, so JP explained why he's not buying. It's ur turn to explain why ur not selling.
    1 May, 12:57 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    I think asking for explanations of personal decisions is in bad taste. I respond to those kinds of questions when pressed because I've chosen a high public profile. I don't expect others to do the same.
    1 May, 01:01 PM Reply Like
  • Mr Investor
    , contributor
    Comments (2476) | Send Message
     
    I completely disagree. Asking about the reasons for an investment decision on an investment blog is fine; demanding is not. The intended audience is free to do with the request whatever they so desire.
    1 May, 01:06 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2481) | Send Message
     
    I will respond to why I am not selling.

     

    At bottom, I believe in my dd in the technology and I want to believe that TG has been truthful in repeatedly taking the positions he has since last August and before.

     

    Although I accept it as a possibility, I am also not ready to believe that he is a battery huckster in the same sense that Edison so aptly described a century ago.

     

    Finally, I am not ready to admit that I have been duped yet.

     

    However, each empty promise without adequate explanation moves the scale towards the second two options.
    1 May, 01:10 PM Reply Like
  • Ranma
    , contributor
    Comments (1400) | Send Message
     
    I haven't sold because each time I thought about doing so, some carrot gets dangled in front of me, like when it was first revealed auto was having Axion find a second source. Now we get some timeline with the NS-999. All these things tell me that the battery is real and TG is not a huckster. It may be painful to watch and hold, but I'm confident my investment will pay off even with another round of dilution. The NS-999 is about to be complete and serve as the launchpad for more orders. NSC has all but said the PbC is the only battery for the job - remember when we were afraid they were going lithium? Now even lead-carbon is getting press in auto... it's all a matter of time.

     

    Really ask yourselves, how much lower can the market cap really get? If it gets lower, so what, open up your wallets. All I care about if the design wins are there. Once we get there (possibly by June with NSC), and NDAs are lifted, we'll get much better financing terms R/S or not.
    1 May, 01:19 PM Reply Like
  • Mr Investor
    , contributor
    Comments (2476) | Send Message
     
    Stefan, thanks for sharing your reasons. I think that increases the blog's usefulness.
    1 May, 01:43 PM Reply Like
  • LabTech
    , contributor
    Comments (1766) | Send Message
     
    John,
    Good thing SWMBO has a full time job! ;-)
    1 May, 02:05 PM Reply Like
  • nogoodslacker
    , contributor
    Comments (864) | Send Message
     
    I am not selling for the reason any investor should have for not selling. I think there is potential for the stock price to go up (though not nearly as high as many people here like to speculate). Frankly, I probably would sell if it got to about 0.22 in the near future, because that is about what I think the maximum upside is before we get hammered again by another financing. This is why I am always harping that they need to sell some batteries.
    1 May, 02:14 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    <<<Finally, I am not ready to admit that I have been duped yet.>>>

     

    Stephan, I think we are kindred spirits! Especially after reading your posts in the past 24 hours.
    1 May, 05:39 PM Reply Like
  • topcat1906
    , contributor
    Comments (54) | Send Message
     
    Success in investing doesn't correlate with I.Q. once you're above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.
    Quoted in Amy Stone, Homespun Wisdom from the "Oracle of Omaha" ((June 5, 1999), BusinessWeek
    1 May, 07:41 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    @topcat: my I.Q. is 24.99... does that mean I'm in trouble?
    1 May, 07:47 PM Reply Like
  • topcat1906
    , contributor
    Comments (54) | Send Message
     
    Occam's Razor:
    If you can keep your head when all about you
    Are losing theirs and blaming it on you,
    If you can trust yourself when all men doubt you,
    But make allowance for their doubting too;
    If you can wait and not be tired by waiting,
    Or being lied about, don’t deal in lies,
    Or being hated, don’t give way to hating,
    And yet don’t look too good, nor talk too wise: ....
    1 May, 08:12 PM Reply Like
  • Masi
    , contributor
    Comments (422) | Send Message
     
    nogoodslacker, it sounds like your talking about them adding shares. From what I understand, is that they are asking to do a reverse split. That means we own less shares but the share price will multiply by the factor of the reverse split. Whether the price remains is the big kahuna. Are you implying that later they will issue more shares?

     

    Talk about battered wife syndrome or JP's definition, Stockholm syndrome.
    1 May, 11:08 PM Reply Like
  • H. T. Love
    , contributor
    Comments (17246) | Send Message
     
    Topcat: and the best punch line was "... you obviously don't understand the seriousness of the situation you find yourself in"!

     

    I *loved* it!

     

    'Course it was abbreviated to the "keep your head part".

     

    HardToLove
    2 May, 06:34 AM Reply Like
  • nogoodslacker
    , contributor
    Comments (864) | Send Message
     
    Sorry, Masi, but after reading your comments above to Sokhubo, I can only conclude that it is not worth my time to try to explain it to you.
    2 May, 09:08 AM Reply Like
  • Articula
    , contributor
    Comments (245) | Send Message
     
    Honestly - I don't care about the reverse split. It's the market cap that matters. Do we all really think this company is only worth ~26M? Share price is inconsequential - it's the cap that matters.

     

    If anything this is positive - it positions us to move to the NASDAQ for much more publicity.
    1 May, 09:39 AM Reply Like
  • dance621
    , contributor
    Comments (162) | Send Message
     
    Treehill: "As a Canadian, up until now I have only been able to buy Axion stock in a non-registered account."

     

    Forgot about that. As a Brit life will be a lot easier if AXPW is listed.
    1 May, 09:56 AM Reply Like
  • robert barry
    , contributor
    Comments (72) | Send Message
     
    hard for me to hide my disappointment. While the split essentially means nothing, it's what comes after the split that matters. That is an offering that has a high percentage dilution and a share gravitation back to penny stock status. I've seen this movie too many times.
    1 May, 10:01 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    There won't be a reverse split until the financing and market upgrade are in place and ready to close.

     

    Seeking this kind of authorization is not something companies do for fun. They seek the authorization because every credible investment banker and investor they talk to says "Go get stockholder approval for a sensible deal and get back to us when you have the authority to act."

     

    My experience is exactly the opposite of yours. I've never had a client that was punished for implementing a reverse split in connection with a financing transaction and a market upgrade. The companies that end up in trouble are the ones that are forced to implement a reverse split to keep a listing or are forced to deal with carrion birds because they don't have the backbone to tell stockholders that a reverse split is necessary.
    1 May, 10:14 AM Reply Like
  • robert barry
    , contributor
    Comments (72) | Send Message
     
    JP, I appreciate your optimism and certainly hope you're right and I am wrong. I haven't sold any shares today and don't plan on it. But we're both just flapping our gums until axion has a press release that has the word "order" in it and doesn't have the word "prototype".
    1 May, 10:34 AM Reply Like
  • raleigh731
    , contributor
    Comments (281) | Send Message
     
    Uh-oh! This just hit me. It is May 1st! MAYDAY!! MAYDAY!! ; )
    1 May, 10:02 AM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1462) | Send Message
     
    Catch of the Day!
    1 May, 10:05 AM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2481) | Send Message
     
    lol.
    1 May, 10:30 AM Reply Like
  • Valleywood
    , contributor
    Comments (649) | Send Message
     
    raleigh, if today was April 1st we'd really be squirming.
    1 May, 10:53 AM Reply Like
  • tripleblack
    , contributor
    Comments (13441) | Send Message
     
    May Day? OK, where's my solid Red flag, and appropriate Soviet music sound track...
    1 May, 10:54 AM Reply Like
  • wtblanchard
    , contributor
    Comments (2382) | Send Message
     
    I can see it now through my irony tinted glasses ...

     

    some Russian oligarch, tipped off by one of Putin's minions, gets wind via wiretaps of the impending BWM deal (which of course BWM hasn't disclosed to us,) identifies some pocket change and through the new SNDN market maker, makes the board an offer they can't refuse and moves everything to Crimea ...
    1 May, 11:06 AM Reply Like
  • wtblanchard
    , contributor
    Comments (2382) | Send Message
     
    Meanwhile, back at the ranch ...

     

    http://bit.ly/1fwANZd

     

    May 01, 2014
    ZBB Energy Names Sales Manager for State of Hawaii

     

    http://mwne.ws/1fwANZh

     

    "Mr. Peck brings more than 25 years of senior leadership in business, government and energy management to the Company. Most recently, he served as the General Manager, South Pacific Region for Johnson Controls. During his tenure overseeing the Solutions business in the Pacific, Johnson Controls booked a $150 million energy retrofit of the 12 airports in Hawaii, the largest performance contract in the company's and state's history. Prior to Johnson Controls, Mr. Peck served as the Energy Administrator for the State of Hawaii, advising the Governor and Cabinet on energy matters and policy. He also managed the first three years of the Hawaii Clean Energy Initiative, a partnership with the U.S. Department of Energy, which implemented an energy storage program on each island. Mr. Peck also served as a Principal at Booz Allen Hamilton, where he opened the Honolulu office and managed the firm's public sector business in the Pacific. He earned a Bachelor of Science in physics from the United States Naval Academy and is a retired nuclear submarine officer."
    1 May, 10:51 AM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2481) | Send Message
     
    WTB -

     

    Very interesting hire.
    1 May, 12:01 PM Reply Like
  • wtblanchard
    , contributor
    Comments (2382) | Send Message
     
    smallball battery news ...

     

    EaglePicher (part of OM Group) Quarterly notes:

     

    "In our battery technologies business, EaglePicher, we continue to innovate new battery solutions for our medical customers. One example is our battery for medicine delivery systems. This new external design uses a battery chemistry to actuate a piston-like apparatus to deliver large molecule medicine through the skin. It almost acts like a mechanical patch. This solution takes the place of harmful needles. Our EaglePicher business is developing this early stage product as a platform technology and it will be used in several therapy markets.

     

    In another medical example at EaglePicher, we are producing batteries to meet the heavy demand within the leadless pacemaker market. Two years in the making, this design has been validated and FDA cleared and is now being implanted in patients around the world. It’s one-tenth the size of a traditional pacemaker and performed as an outpatient procedure. This new device is made possible by EaglePicher’s novel battery design.

     

    One last example in our battery business is in the defense market. EaglePicher is currently under contract with the U.S. Army to design and build the next generation of primary and rechargeable wearable batteries called the conformal wearable battery, or CWB. These batteries, currently in development, will not only provide longer operational life, they will also optimize weight distribution for improved soldier comfort. EaglePicher was chosen from this product based on its unique ability to design and build these custom cells with its industry leading technology. Upon completion of the program the U.S. Army would be demonstrated this technology in several training scenarios."

     

    http://seekingalpha.co...
    1 May, 10:56 AM Reply Like
  • geopark
    , contributor
    Comments (250) | Send Message
     
    Lots of great comments, did read many, but not all . .
    Will be voting my shares FOR.
    My trust remains in leadership including our new Director Mr. DiGiacinto.

     

    Is this some kind of record for most comments in a short time?
    1 May, 11:01 AM Reply Like
  • Ranma
    , contributor
    Comments (1400) | Send Message
     
    Well, I just bought more. In any R/S case you have those who will sell believing others will sell. Great chance to buy cheaper after they are done.

     

    In two weeks we'll have another CC and have another chance to evaluate our position. The R/S decision will be WAYYYY after that. It's not even a factor for me, except that I just got to buy cheaper lotto tickets.
    1 May, 11:04 AM Reply Like
  • CoryM
    , contributor
    Comments (71) | Send Message
     
    It's my opinion that the timing of this announcement intentionally coincides with the end of the PIPE. I also believe announcements will begin...be it sales or NDA unveilings. This will result in the share price ascending so that shareholders vote in favor of the reverse split. Once approved, I see a fairly quick move to execute the reverse split because it's also my opinion that we have investors and customers awaiting for Axion to take the next step as a viable long-term entity.

     

    Also, could it be that a "person" has accumulated more than 5% that Axion is not aware of because they have not filed the purchases as of yet? I am not familiar with all of the deadlines and when the Section 16 filings would be made public. It seems more shares than Axionistas could handle were dumped, so I am still curious who helped keep the share price from dropping to .05.

     

    Of all the 10+% drops I have endured, I am not worried about this one. Holding my shares and voting yes.
    1 May, 11:16 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    Any person that acquires more than 5% of the outstanding equity securities of a public company must immediately file a report on Schedule 13D. If there were any 5% holders lurking in the woodwork we'd know about it.
    1 May, 11:57 AM Reply Like
  • CoryM
    , contributor
    Comments (71) | Send Message
     
    Thanks for the info. Still find it amazing how many shares were bought during the PIPE.
    1 May, 01:36 PM Reply Like
  • Milo2
    , contributor
    Comments (35) | Send Message
     
    One thing that does bother me is the size of the split. Does it have to be a minimum of 1:20? That leaves only just over 10mil shares outstanding. Assuming TG comes through with positive news and assuming that we start on an uphill trend in terms of sales, institutional investors might become interested but then balk at the liquidity issue. Many large institutional firms will not invest in a company with a small number of shares outstanding as it is too easy to move the market either in establishing a position or exiting one.

     

    The high split number tends to make me think there is heavy dilution in front of us and the BOD sees that hence the high RS number. Comments?
    1 May, 11:29 AM Reply Like
  • RuggedDC
    , contributor
    Comments (182) | Send Message
     
    I'm thinking Axion would like to see a $5 or $6 number for share price ($3 is the bare minimum entrance price).

     

    If current share price can get to 30 cents on its own with good news, then a 1:20 RS may be all that's needed.
    1 May, 11:39 AM Reply Like
  • wtblanchard
    , contributor
    Comments (2382) | Send Message
     
    Don't know about you, but I will be reading the fine print on what happens to the management options at $1.50 ...

     

    the ole oops our lawyer must of missed that section excuse ain't gonna fly ..
    1 May, 11:30 AM Reply Like
  • metroneanderthal
    , contributor
    Comments (1498) | Send Message
     
    Wt.
    I have been curious about this myself. Going to read the document closely.

     

    As the alternative to rs is probably another sadistic round of a large pipe emplaced wazooily, will vote for rs.
    1 May, 11:59 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    Options and warrants ALWAYS have provisions for share number and exercise price adjustments in the event of a forward or reverse split.
    1 May, 11:59 AM Reply Like
  • Josh Greene
    , contributor
    Comments (61) | Send Message
     
    a) from a game theory, if you're management, wouldn't you put this out, when you know you have a smidge of good news coming, and also with the may 2nd date, you don't risk a sudden turnover of your shareholder base, with investors who might not be as amenable, as most here, who want to see things through
    b) i can't decide if i'm excited we're bouncing back over .13, or disappointed there's not more inventory
    1 May, 11:39 AM Reply Like
  • AWOL ENGINEER
    , contributor
    Comments (33) | Send Message
     
    Josh, I am not sure there is so much concern with the May 2nd date and voters as it is with good news coinciding with bad. They ask us again to swallow the bitter pill, but maybe this time they will coat it with sales.

     

    I was hoping for a bigger sell off. I am not going to see 1 million shares after the split!
    1 May, 11:45 AM Reply Like
  • RuggedDC
    , contributor
    Comments (182) | Send Message
     
    HEY - Everyone unhappy with TG, VD, RS, etc…. I'm "there" for you!

     

    PLEASE go ahead and dump your shares! -- I need to fill the remaining 182,000 shares of my 200,000 order bidding at .1325!
    1 May, 11:46 AM Reply Like
  • geopark
    , contributor
    Comments (250) | Send Message
     
    Good one Rugged, lol. Can't help you though, I'm still looking to add.
    1 May, 11:50 AM Reply Like
  • Mr Investor
    , contributor
    Comments (2476) | Send Message
     
    DC, got ur wish. Someone just dumped about 300k shares. I bought some in that, too.
    1 May, 12:32 PM Reply Like
  • iindelco
    , contributor
    Comments (8754) | Send Message
     
    Rugged, Looks like you're all set. I'm guessing you can have as much as you want at these levels.
    1 May, 01:00 PM Reply Like
  • tripleblack
    , contributor
    Comments (13441) | Send Message
     
    Sorry, Rugged, I only have 99 shares left...
    1 May, 01:11 PM Reply Like
  • RuggedDC
    , contributor
    Comments (182) | Send Message
     
    LOL.

     

    Uh, oh.

     

    "Be careful what you wish for."

     

    Well, there went part of my kitty towards buying into ePower…

     

    Y'all, let's shift to singing hymns to PbC and forget the dumping for a while whatsay?!

     

    Mr. I, I'm guessing yours was the .1335 bid?!
    1 May, 01:14 PM Reply Like
  • RuggedDC
    , contributor
    Comments (182) | Send Message
     
    And, wonderfully for you, TBack, after the RS you'll wind up with 100 NEW shares each worth ~35 times as much!

     

    Who said investing in Axion couldn't be profitable!!~
    1 May, 01:30 PM Reply Like
  • Mr Investor
    , contributor
    Comments (2476) | Send Message
     
    DC, good guess! Yes, I was the 45k shares bid at .1335. Bought a total of 80k shares today. Intend to add more if we drop more.
    1 May, 01:36 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    @Rugged! That's the spirit! Go nuts! I'm not selling, but I'm not buying either...
    1 May, 05:42 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    @TrippleBlack: isn't the record date already past? I thought you add three days? no?
    1 May, 07:36 PM Reply Like
  • tripleblack
    , contributor
    Comments (13441) | Send Message
     
    I've owned those 99 shares for a long time...

     

    Of course, I also sold about 175000 sharesover the past month or so, but that's just normal trading behavior for me (I have consistently traded Axion for several years now).

     

    I consider the fog too thick to continue trading, so I'm essentially out...

     

    LOL, except for the 99 shares, of course.
    2 May, 11:05 AM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    Thanks, Trip
    2 May, 05:13 PM Reply Like
  • f-kru
    , contributor
    Comments (256) | Send Message
     
    Interesting development. Aside from the financing ramifications I see a NASDAQ uplisting as a very good thing and I've been hoping it for it for quite a while, simply because it widens the audience for Axion. Why fly under the radar for another decade if a RS can get us there now.
    E.g. for me living in Germany, it is quite a challenge to find a broker that allows me to trade AXPW without getting someone on the phone and listening to a bunch of BS disclaimers before hand.
    Let alone getting the attention of an investment magazine for an OTC penny stock despite the relationship with BMW or NS.
    1 May, 11:49 AM Reply Like
  • Ranma
    , contributor
    Comments (1400) | Send Message
     
    It's clear to me that once AXPW lists on NASDAQ the share price will see much more support. Heck it might even make it on a small cap index one day. Many stocks see a rally once they uplist. A downturn on R/S announcement is quickly made up by the upturn.
    1 May, 12:13 PM Reply Like
  • robert barry
    , contributor
    Comments (72) | Send Message
     
    f-kru, I'm a little fuzzy about a nasdaq "uplisting". That doesn't happen solely on share price. Also, if there is another decade involved in waiting for axion, "flying" isn't exactly the term i'd use for the company. Think boats with holes in them. That's amazing, what you have to do to buy the stock!
    1 May, 12:18 PM Reply Like
  • RBrun357
    , contributor
    Comments (781) | Send Message
     
    Unfortunately it will not mater what exchange Axion is listed on if they can not provide some indication that they can sell batteries.

     

    Although my dissatisfaction with TG's ability to predict significant orders is still rated at -99% I am hopeful that he will adjust that rating by May 15th. With all of the data being published regarding grid storage I have to believe that even TG should be able to sell a PowerCube or two.

     

    The reverse split was inevitable and I remember many of us bringing up the subject in the past, some attempted to discredit the assumptions saying management was not interested in doing so. The reality is that management was not interested in doing so at that time but that was then and this is now.

     

    I am not surprised at all that this now taking place and I believe the drama will be increasing. This story has lots of emotions and there are some Axionistalemmings that believe in TG and that he has control of the ship but his past prediction success should make anyone that believes in him to have a little quiver in their stomach! I do!

     

    It has been stated hundreds of times already but I will repeat again, TG has to come through with his prediction of significant sales or this story will not continue well. Doing a RS at this stage without a potential revenue ramp will just destroy the current shareholder value and if your holding a bunch of shares that quiver in your stomach will be getting much stronger and harder to deal with.

     

    I am currently of the belief (hope) that TG and the board know that this vote for the RS could be a challenge without something to alter shareholder attitude. With that belief I am hoping that those significant sales are in fact getting closer.

     

    The timing makes sense to me, put out this RS notice and shake the shareholder tree hard and then come back with a significant order and then the vote. Time all of this with the PIPEnd.

     

    Plus we still have approximately 5 full months of trading and possible significant order announcements ahead of us before the 4th quarter does arrive. With NS, ePower, PowerCube sales and who knows maybe a large Asian auto manufacture coming out of the closet. We could see that coil unwind and push this stock up over $1.00 ps ($221.000,000.00 MC) which would not be too surprising to me. At $1.00 ps a 1:20 RS adjustment makes the stock $20.00 ps and 1 million shares financing would bring in $20,000,000.00 in working capital.

     

    RBrun357
    1 May, 12:24 PM Reply Like
  • Mr Investor
    , contributor
    Comments (2476) | Send Message
     
    f-kru, thanks for the comment about restrictions in Germany. Someone else mentioned Canada, too, and I've mentioned previously the tough restrictions in the US for penny stock buying. For example, many if not all the big brokerage firms require penny stock trades to be "unsolicited", which means the client has to approach the broker with the idea---it can't be the other way around. Brokers themselves can't even buy any, as that is considered a solicitation (of themselves)!

     

    Not exactly a good way to get the word out.

     

    Uplistings help cure that problem, which is why I almost always like'm, including this proposed one by Axion. Of course fundamental developments still matter, but the mkt for the stk, especially for a company still raising equity money, is also very important. Letting more investors in is huge.
    1 May, 12:47 PM Reply Like
  • Patrick Young
    , contributor
    Comments (940) | Send Message
     
    RBrun, I have been thinking about how TG must want to wring some of our necks. We know he holds his cards close. There is no doubt in my mind that it would give TG great satisfaction to see the naysayers bail out on a reverse split announcement days before the sales announcement.
    1 May, 01:09 PM Reply Like
  • f-kru
    , contributor
    Comments (256) | Send Message
     
    Mr. I, exactly what I`m thinking.
    1 May, 02:31 PM Reply Like
  • Amouna
    , contributor
    Comments (1455) | Send Message
     
    RBrun,

     

    Completely agree! If we can't sell any batteries, we will be back to 15 cents a share....on NASDAQ!!!
    1 May, 03:18 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    <<<<It has been stated hundreds of times already but I will repeat again, TG has to come through with his prediction of significant sales or this story will not continue well.>>>

     

    Word...
    1 May, 05:46 PM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1462) | Send Message
     
    Many thanks for the comment, RBrun.

     

    I have not been through a reverse split before. All the anecdotes are other stocks and other stories.

     

    re' your comment: "The timing makes sense to me, put out this RS notice and shake the shareholder tree hard and then come back with a significant order and then the vote. Time all of this with the PIPEnd."

     

    This is the core of the issue for me and I have asked for someone to make this case, i.e., what does the timing of this announcement suggest about the content of the anticipated announcement re' "significant sales"?

     

    I would like to understand more about your thinking on this, because as I have noted, there seems to be no sense (IMO) in throwing this RS issue in the mix BEFORE the announcement of significant sales, when doing so AFTER would have assured TG that the RS announcement would guarantee smooth passage. It's just a matter of two weeks.

     

    OTOH, he MUST deliver this time. I like the guy, I have a good feeling about him, he has been vouched for by those who know him, he has been steadfast. He WILL deliver. So I nearly doubled down in the last six months. Then I get this curveball RS split announcement when it seems to me, it's just two weeks, why not wait!?!?

     

    Your comment is more bullish than my thinking and I would like to hear it explained a bit better, if you wouldn't mind.
    2 May, 05:20 PM Reply Like
  • 481086
    , contributor
    Comments (3297) | Send Message
     
    fwiw, I still suspect that the timing of this is in large measure being driven not internally but externally...
    2 May, 05:24 PM Reply Like
  • RBrun357
    , contributor
    Comments (781) | Send Message
     
    Ed,

     

    As I mentioned above I am "hoping" that this latest series of events is being orchestrated to some degree. JP has stated that Axion will not announce the RS until they have put together a funding package along with a jump to the NAS. I am definitely "hoping" (you will notice that I use this word a lot!) that JP is correct although I am not sure how he would know this for certain or if he is just "hoping" too!

     

    I have been involved in the past with similar situations where the timing of events is beyond the control of the company due to exterior delays. I am applying these experiences with present day Axion. TG has been predicting significant orders for a long time without being able to close the deals. This is assumed to be due to the customers and their own delay issues. We have heard of issues such as customer funding, government decision and approval delays, extreme winter weather and a few other exterior delay issues. I am not faulting TG for the delays but I am holding him accountable for continually missing the target with his predictions. I would prefer him to only give absolutes and I will leave it at that.

     

    With that said, I do very much believe in the PbC technology and that Axion has numerous potential customers lining up. At some point TG will be able to deliver on his promises. Based on TG's last remarks about the 44 days and being happy with the time frame suggests that the time for some form of sales or contracts is near. If I were in Axions position and I want to initiate a RS which will require a majority vote I would definitely be looking at all of my opportunities and put together a marketing plan and roll out all the positive news in an orchestrated series of events. Now I truly believe that Axion has been planning this RS for many a month and probably initiated the discussion early last year. As JP has stated the best way to institute a RS is when you are ramping up business and making the jump up the exchange listing.

     

    So if I were in TG's position and I knew that I would finally be able to announce something that would make my shareholders happy for a change I would definitely be developing my roll out plan to get the best results possible. I would take into consideration everything involved in the current story and look at my calendar and stage the information rollout as much as possible and appropriate.

     

    Current positive assets:

     

    PIPEnd (finally)
    Spring time
    5 full months before needing funding
    NS launching 999 by end of second quarter
    ePower putting first truck on road soon with mileage data
    BySolar launch mid May
    Additional significant orders nearing (again hoping)

     

    Negatives:

     

    Reverse split, need shareholder approval
    Unhappy shareholders
    Stock price $.14
    Only 5 full months of cash left

     

    The one thing that you do not want to do when you are attempting to change shareholder attitude and sentiment is to intentionally shoot yourself in the foot. When you have 5 months to pull yourself out of the mud and clean yourself off so you can present yourself in your shiny new attire the last thing you would want to do is to walk through more mud puddles on your way to the party. So the first thing you do is put all of the negatives out there and let the emotions run wild, (shock and awe)! Since the stock is only $.15 and the PIPErs are still hanging around and haunting you there is no need to rush this chapter, just let it play out. Once this is complete you then turn the page and start a new chapter in which you start to roll out the good stuff, this puts the negatives safely behind you and out of the conscious thoughts of the readers of your story. Next you start to roll out the positives, you probably do not have much control on the timing of the individual events but you take what you have and start playing your cards. Since TG has been suggesting that he is expecting good cards will be dealt his way soon this should be possible. When you start playing your power cards and create enthusiasm you really want to keep it building. If you keep announcing positives without any negatives (mud) then your shareholders start to love you and buy into your story and "trust" starts to develop along with an appreciating stock price.

     

    Now this is just my dream of what TG and company could be preparing to pull off! The timing certainly appears to be falling wonderfully into place. The PIPEnd is a huge event, spring time is always a good time for a positive change and then the roll out of the above mentioned positives along with many that we may not even know about. I believe that if Axion could write their next chapter in some form of what I have outlined here they should have little worries about attracting buyers of their stock, I certainly would buy more!

     

    On the other hand, Axions next chapter could be riddled with negative events that could over power any positives and destroy any appreciable upside and a happy ending to the story. But as for me I am thinking that the RS announcement that was released approximately 2 weeks prior to the May 15th CC was an orchestrated event and possibly the last negative that we will be having to deal with for the next few pages in this chapter! I am certainly "hoping" so at least!

     

    I hope this helps explain my earlier post??

     

    RBrun357
    3 May, 12:31 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    I don't *know* that Axion will hold off on a reverse until it can tie everything together with a bow and combine a reverse split, a financing and a market upgrade in a single package, but it's the only plan that makes sense given the way the consent proposal is structured.

     

    The biggest issue with any reverse split is uncertainty. How big of a reverse split will be required to satisfy NASDAQ? How big of a reverse split will be required to satisfy your financiers? Both questions are ultimately resolved through negotiation.

     

    NASDAQ has two market tiers that are potential fits for Axion – the Capital Market and the more prestigious Global Market. The market value standards are $50 and $75 million, respectively, and the "Bid Price" and "Closing Price" standards range from a low of $2 to a high of $4. The biggest hook is they require 90 consecutive trading days at or above the minimum price before approving a listing. Since we only have about 20 trading days per month you have to assume that we're already on the cusp of the price evaluation period.

     

    http://bit.ly/TomC9i

     

    NASDAQ will consider trading prior to a reverse split as strong evidence that a given price will hold, but they also tend to like some headroom because they worry about post reverse declines like everybody else. So its not unusual for a stock that's been trading at $.30 pre-reverse use a larger ratio than 1 for 10 to give all parties confidence that the minimum price will hold.

     

    You have the same kind of tension with institutional investors. Most funds that aren't organized for "special situations" investing have iron clad rules against holding stock of unlisted companies. In addition to their iron clad rules, many have detailed policies that are almost as inflexible. I've had fund managers tell me "I don't invest in sub-$5 or even sub-$10 stocks," and frequently the most stable and reliable funds are the pickiest.

     

    In the final analysis an outfit like Axion has to negotiate with NASDAQ to find out what it will take to satisfy their staff and then negotiate with the investors to find out what it will take to satisfy them. Until you know the answers to those questions, pulling a reverse split number out of thin air and implementing it is a great way to find out that somebody you were counting on is shaking his head and saying "not good enough."

     

    The Notice of Consent Solicitation talks about a range of 1 for 20 to 1 for 50 because that's what management needs if it wants to find a clean path through the negotiations. It could act unilaterally, but that would be a very foolish thing to do.
    3 May, 04:41 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    NOTE: When you look at the listing standards for the Global Market and the Capital Market, the only two columns that count are the "Equity Standard" and the "Market Value Standard."

     

    At December 31st Axion had $9.5 million in equity and another $2 million of debt that was subsequently converted to equity. Since you also have to consider subsequent losses, it's safest to assume that the company as it is will have $8 to $10 million in pre-existing equity and an unknown amount of financing proceeds.

     

    Securities that will be issued in connection with a planned financing are taken into account when calculating the Market Value of Listed Securities.
    3 May, 05:12 AM Reply Like
  • PbC Believer
    , contributor
    Comments (258) | Send Message
     
    In estimating Axion's financial status both you and JP seem to ignore the fact that repayment the $1 million subordinated note has come due and will not be converted since that conversion price is $.30/sh. Are you assuming that Axion has already paid off that note?
    3 May, 07:20 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    Section 19(f) of the Subordinated Notes says their Maturity Date is the 91st calendar day after the Maturity Date of the Senior Notes.

     

    http://1.usa.gov/1jqg3BF

     

    Section 29(bb) of the Senior Notes specifies a Maturity Date of February 2015.

     

    http://1.usa.gov/1753WnN

     

    I don't see any provisions that accelerate the Maturity Date of the Subordinated Notes if the Senior Notes are paid off early, although I have to assume Axion will want to clear that debt at the earliest practicable time because it's owed to people who've made extreme sacrifices over the years and have to be feeling pretty battered.

     

    The existence of the PIPE financing really muddies the waters when it comes to assessing true Axion's financial condition. So in my view the easiest way to look at the numbers is to start with $14.7 million in hard assets and then deduct the liabilities that have to be paid in cash.

     

    The current liabilities section of the balance sheet shows $877,971 in debts that are payable in cash. That figure jumps to $1,877,971 if you include the Subordinated Notes. The balance of the current liabilities have been cleared by stock issuances after the end of the year.

     

    All of the items in the long-term debt section of the balance sheet, with the possible exception of a $219,722 note payable that I haven't had time to research, are accounting entries that don't represent future cash outlays by the corporation.

     

    When I subtract $2.1 million in hard debt that has to be paid in cash from $14.7 million in total assets, I get to about $12.6 million in effective equity even though the balance sheet only reflects $9.5 million in GAAP equity.
    3 May, 08:10 AM Reply Like
  • PbC Believer
    , contributor
    Comments (258) | Send Message
     
    The S-1 says "Once 2/3 of the Senior Convertible Notes have been repaid, then the Subordinated Convertible Notes may be converted and/or prepaid in cash ..." This says to me that when the senior notes have been fully repaid the subordinated notes then become due and that fully paid event took place last month by your estimation.

     

    Cash is the name of the game, meeting the NASDAC standards is one thing but meeting payroll is the bigger ballgame.
    3 May, 09:10 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    In legal documents there's a big difference between "may" and "must." While I'm sure management wants to clear the Subordinated Notes as quickly as possible, I have a hard time imagining that they'd jeopardize the company's future in the process.

     

    I agree that cash is king. As near as I can tell the certain knowledge that Axion will been more cash by the beginning of Q4 is the biggest reason we're seeing these proposals now. It takes time to pull a reasonable financing deal together and it takes time to qualify for a NASDAQ listing. While Axion has enough time to do both, it doesn't have time to dawdle.
    3 May, 09:31 AM Reply Like
  • PbC Believer
    , contributor
    Comments (258) | Send Message
     
    The 1st quarter financial reports will give us all a better picture of Axion's realities.
    3 May, 09:42 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    I agree wholeheartedly and am anxiously awaiting a balance sheet that's largely clear of the crazy balances transactions like the PIPE create. On a worst case basis I see about $5.5 million in near cash at year end. As long as nobody goes crazy writing checks, that's enough to carry the business for three quarters, or perhaps a little longer if inventories can be reduced. There's enough time to do the necessary work but no time to waste.
    3 May, 09:51 AM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1462) | Send Message
     
    RBrun, Thanks for taking the time, certainly. Very well laid out strategy.

     

    My take was more neutral, as both uplisting and RS are not something I have been through.

     

    All I care about is the upcoming sales announcement.

     

    I want the uplisting, which I see as good news and bullish, to go smoothly and be a part of the positive story, wherein the reverse split is merely necessary, not even a necessary evil (though I see that POV), but it all seems to almost have been presented to us in a poor light, inviting all sorts of negative reactions, and leaving me wondering: "What does this mean about the sales announcement?"

     

    nogoodslacker was not the only one to say that there was desperation in the air, which would suggest that there was going to be *NO imminent sales* and hence the company either had to uplist or suffer a final pipe blow to the head. That is the worst outlook.

     

    Someone suggested they wanted to "shake the tree to make weak holders fall out", but why do that? What does the company gain by putting doubt into the minds of so many and causing others to sell? Is there an advantage to having fewer stockholders? Many of those still clinging are likely only holding on (at least in part) because the damn stock has been in the sock drawer for so long, while those who are shaken out are more likely those who are newer to AXPW and have less unrealized loss. So I'm not sure such a strategy leaves the stock in stronger hands rather than more desperate or apathetic ones.

     

    It's all about the upcoming sales / market intiatives announcement. If it is good, this reverse split announcement was either purposefully executed for reasons I am too ignorant to appreciate (and probably wouldn't if I did) or poorly executed in the extreme.

     

    If the BOD is sitting on good "significant sales" news, THIS WOULD HAVE BEEN GOOD NEWS! That's all I'm saying. Again, thanks for your considered input.
    3 May, 10:47 AM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1462) | Send Message
     
    It seems RBrun's inference is that reverse splits are never "good news". If so, if the "market" is simply predisposed to see an RS in a negative light, even if it is presented as part of an uplisting, then I suppose it would make sense to put it out there as early as possible as part of the story-telling strategy.

     

    And so maybe we do have good news coming, as TG seems to have all but promised! puff-puff.
    3 May, 11:06 AM Reply Like
  • Ranma
    , contributor
    Comments (1400) | Send Message
     
    Yes, and the market has shown its resilience already. At these rock bottom prices even a R/S announcement dropped it only a penny. Whereas imagine the carnage if AXPW was higher plus with good news spent. We've already recovered the penny and more.
    3 May, 11:24 AM Reply Like
  • RBrun357
    , contributor
    Comments (781) | Send Message
     
    Ed,

     

    As I am certain that you noticed that I utilized the word "hoping" a few times and as we all know that is not a good investment protocol. I laid out that "story" as just one of the ways this could play out and the one that I certainly would love to see but it all will come down to TG coming through with significant orders. In regards to him actually coming to the CC loaded up with those SO is the big unknown and one that I am definitely NOT confident about. The only thing he said he would do is "update" us and to add to that my faith in his abilities to actually "orchestrate" as I have suggested is not high, I am just hoping!

     

    You mentioned above that I implied that reverse splits are never "good news" and I will agree to that in most instances. They have "never" been good for me! But with this story the RS "could" be written as a positive since it is being sold as a packaged deal for better funding and an exchange upgrade. The big BUT has been mentioned numerous times regarding this package needing to also provide a clear path to revenue growth. If that clear path is provided then so called savvy new investors will start to calculate the future potential of Axion in regards to market cap. If the story becomes more compelling then one will decide if they would like to jump into the story now at $.14 and a MC of $29 million and ride through the RS or wait to see what happens after the RS and then enter. There are risks associated with both. If you jump in early on the $29 million MC you risk the package of good news not being strong enough to fight off the negative influences that attack the stock price on the other side of the RS. If you wait until after the RS you risk the news being good enough to attract other risk takers and drive the stock price up and therefore the MC. This all depends on your risk tolerance and how much of a bottom feeder (gambler) you are. With the PIPEnd near and JP's expectation of the supply/demand imbalance correcting along with TG throwing out a bone the stock price could definitely attract more of us high risk players.

     

    As I mentioned prior, getting this negative RS introduced and then buried in yesterday's pages prior to the introduction of the shiny new world order of positive news being rolled out would make sense to me. Once the stock price reflects this sentiment change and suggests the train is actually leaving the station then they come back in about 5 months with the RS being introduced with a more positive spin!

     

    I agree with some of the other folks that making the jump to the NAS by implementation of the RS can only be good for us existing shareholders if the clear path to sustainable revenues is clearly laid out. If TG comes to us with more of his smoke and mirror sh$t that leaves everyone attempting to understand, digest and debate the exact potential meanings of his statements as usual then I believe the more savvy higher risk investors may jump to the other side after the RS is finalized and ride the stock price back down into the mud!

     

    Good luck in your decision making process!

     

    RBrun357
    3 May, 12:06 PM Reply Like
  • Ranma
    , contributor
    Comments (1400) | Send Message
     
    I think once NSC signals the PbC has won and will have future orders, a R/S + uplisting is a very positive move, immediate sales or not. What we want is funds that value Axion on fundamentals, not share price history. I feel a tier 1 win should be a $200m market cap, but I don't believe any of you would uphold that on the OTC. By the way things sound here we'd all be falling over each other to sell if this ever hit $1. So let's uplist and get some new blood.
    3 May, 12:58 PM Reply Like
  • bazooooka
    , contributor
    Comments (2322) | Send Message
     
    JP,

     

    Help me/us handicap this all in light of TG's recent letter; what are your spidey senses telling you?

     

    Is TG proposing this proactively so he will be in better position for a Summer placement or do you assume there is already an investor(s) in his ear?

     

    Also what's the chance that is all at request of an oem looking for a partnership (i.e. its less about the placement but more about satisfying a client's desires)?

     

    On the balance, are you reading into it all as positive for Axion or would you rather have had ZRPSOD play out for several weeks before the equity currents got muddied with recent events?
    3 May, 02:32 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    I spent a few hours this morning pulling together all my thoughts on the reverse split proposal and putting them into an Instablog.

     

    http://bit.ly/1hnrxBK

     

    If Tom's experience with Axion is anything like mine was with other clients, I'm sure he's tired of hearing credible investors say "I love your company but I can't invest in the OTC ghetto. Come back and talk to me when you grow up." I also expect he's hearing the same from potential customers.

     

    If Tom wants to get away from ghetto financiers he has to be able to show the new money that Axion is moving uptown as soon as the deal closes. Since NASDAQ makes its decisions based on the 90 trading days prior to listing, we're currently on the cusp of the measuring periods for a September listing.

     

    ZRPSOD will play out according to its own immutable laws of supply and demand. If I was a member of Axion's management team and knew that good news was coming, I'd want to have all the bad news, angst and kerfuffle out of the way before the good news hit. I'd also want to flush out any weak holders that were on the verge of bailing.
    3 May, 03:32 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    @RBrun357: I couldn't have laid it out better myself. Time to watch this saga unfold through the CC. No sales, no dice.
    3 May, 04:19 PM Reply Like
  • Patrick Young
    , contributor
    Comments (940) | Send Message
     
    I agree John, if I were TG I would also try to flush out weak hands before laying my golden egg.
    4 May, 12:30 PM Reply Like
  • iindelco
    , contributor
    Comments (8754) | Send Message
     
    Patrick, curious. Who is a weaker hand? The guy that has been invested for a long period of time and is underwater or the guy that bought his holdings and is in the green all the way up as you ascend?

     

    I guess I'm not smart enough to know but I'd guess that there isn't a hell of a lot of difference. I'm guessing in a large enough group their is enough diversity in expectations that it'll all average out.

     

    But then I could be wrong. Maybe Thotdoc will advise that one person vs the other is better one way or the other? Or maybe someone has access to studies?
    4 May, 03:16 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    The strongest hands are investors who only buy or sell when their investment thesis changes. That's the kind of investor that can continue buying in the face of a dismal price chart and can sit comfortably on multi-bag returns. As a general rule I think the Axionistas are extremely strong hands. There are some who won't be able to sit still with a big gain and have to sell out, there will be others who feel compelled to take their seed corn out of the game and there are others still who will double and triple down as the price begins to climb. That's one of the big reasons I'm so anxiously looking forward to a shift in the supply and demand dynamic. I'm dying to see what the Axionistas do.
    4 May, 04:52 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    <<<I agree John, if I were TG I would also try to flush out weak hands before laying my golden egg.>>>>

     

    @Patrick: That's what I'm "speculating" on now, let's see how that works out for us. ;-)
    4 May, 05:00 PM Reply Like
  • RuggedDC
    , contributor
    Comments (182) | Send Message
     
    "if I were TG I would also try to flush out weak hands before laying my golden egg"

     

    I think this is one of the silliest comments I've seen here (though there are many contenders).

     

    I can't imagine TG giving one iota of caring to this topic, nor does it make one iota of difference to the business of Axion.
    4 May, 06:51 PM Reply Like
  • froggey77
    , contributor
    Comments (2768) | Send Message
     
    JP
    "if I were TG I would also try to flush out weak hands before laying my golden egg"

     

    Is there any actual value to flushing out week hands?

     

    Someone asked this a day or two ago, and I can't think of any reason why this would be helpful to the company. Shorts would want to. Longs looking to bottom feed? Yes.
    The company? I don't see why this would be something they would want to do.
    Care to elaborate?
    4 May, 07:19 PM Reply Like
  • LT
    , contributor
    Comments (4602) | Send Message
     
    I can't believe you guys would hope TG "flushes out weak hands"....these are the guys who bought in the face of PIPERS and possible bankruptcy if AXPW had to pay back the PIPE in cash if volume and price failed.

     

    These are the same guys who stood beside you and bought....now u want to dump them?

     

    Is that the thanks they deserve?
    4 May, 07:30 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    My original statement was "I'd also want to flush out any weak holders that were on the verge of bailing."

     

    The care and feeding of markets in transition is a delicate art because the last thing you want is folks lined up to sell into the first signs of strength. If a holder is on the verge of bailing, it's best to have him do so when the market is on the weak side because anything else makes the next phase more difficult.

     

    I don't believe for a minute that any of the hard core Axionistas who weathered the hard times are "on the verge of bailing" at this stage in the game.

     

    Momo traders, yes. Axionistas, no chance.
    4 May, 07:56 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    <<<<<"if I were TG I would also try to flush out weak hands before laying my golden egg">>>>>

     

    @RuggedDC: I agree to the "silliness" of the comment. However there is a "cousin" to this comment and it goes something like this: <<<<I have no idea what's going on behind the curtain at Axion, but if I was in Tom's position and knew I had good news and bad news coming, I'd make sure the bad news hit the wire first.>>>>...

     

    Putting it this way makes more sense. This is what I'm hoping for at this juncture. I use the word "hoping" because I am bereft of any "conviction" until the CC. TG has some 'splainin' to do...

     

    I want to apologize for a snarky comment I made to you "ruggedDC" on Thursday. You had the fortitude to BUY when there was "blood in the streets" on Thursday and those same shares were up sharply in Friday's session.

     

    I believe you probably made the right trade (for now), but I'm so disappointed in the events of the last 72 hours that I'm squarely in the "wait till the CC mode." I sincerely hope those shares you bought on Thursday mark a bottom.

     

    Cheers
    4 May, 08:13 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    @LT: Good point.
    4 May, 08:17 PM Reply Like
  • froggey77
    , contributor
    Comments (2768) | Send Message
     
    JP
    Thanks for the explanation.
    4 May, 09:23 PM Reply Like
  • DRich
    , contributor
    Comments (4421) | Send Message
     
    >Occam's Razor ... I think the reverse split might be an attempt to upgrade to a Real Exchange. Least that would be my hope of one of the things to come from.

     

    Weak hands are not the problem ... it is Axionistas. There exists a likelyhood that Retail Investors hold such a large that crushing them is the best and most simple way of providing the overhead someone with real financing money needs to justify the investment [hopefully complete with a sale] and know the destiny of the company is not held by the unwashed masses.

     

    We, as a group, have done our job by not letting Axion disappear, but we will never step up to finance CapEx and I rather doubt there are many potential Customers withing our ranks.
    4 May, 10:31 PM Reply Like
  • RuggedDC
    , contributor
    Comments (182) | Send Message
     
    O_R, I hadn't given your earlier comment another thought, but thank you for these refined thoughts.

     

    I'd missed an earlier opportunity to snag another dollop of shares in the .1320 area, so saw the chance anew, as I think we're still scraping bottom price-wise. I subscribe to the notion that it's likely the price will leap when any new individual or institution tries to begin building positions given the lack of new share supply.

     

    I've built a substantial position because I'm confidant of opportunity with Axion's PbC technology.

     

    Like you and most others, I grow increasingly antsy the longer we go without major revenues appearing and building.

     

    Also unsettling is TG's continued kabuki-dancing which is overly long on content-devoid theater and excessively short on specifics regarding the company's commercial initiatives and prospects.
    4 May, 11:03 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    @DRich: All good points. I think part of my disdain toward the RS has somewhat to do with giving the stock time to recover after the relentless PIPE beating we took over the past several months.

     

    I was just about to exhale (thinking we were PIPE free) when a nice kick to the groin was announced. The timing could not have been worse for my psyche.

     

    I haven't done anything yet. I want to see what plays out ahead, especially the CC. I'm not comfortable with the current situation and very possibly, *I* , am one of the "weak" hands over the next several weeks. We'll see.
    5 May, 01:17 AM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    I'm confident that management will not implement a reverse split unless the action will promptly take us to the NASDAQ.

     

    Except for the Bid Price requirement, Axion has satisfied all the financial and liquidity requirements under the "Equity Standard" of the NASDAQ Capital Market for several years.

     

    http://bit.ly/TomC9i

     

    It has $10 million in equity where the standard requires $5 million.

     

    It has $30 million of stock in the float where the standard requires $15.

     

    It has a 10-year operating history where the standard requires two.

     

    It has 200 million shares in the float where the standard requires 1 million.

     

    It has several thousand round lot stockholders where the standard requires 300.

     

    The only financial and liquidity requirements it can't satisfy today are the Bid Price or Closing Price requirements, and a reverse split will overcome those issues.

     

    It's a rule. stockholders hate reverse splits and they hate financing transactions. But I've never seen stockholders complain about a package that combines a financing and a reverse split and a market upgrade. The triangular deals are always enthusiastically received even though two of the three elements would be painful in their own right.
    5 May, 06:24 AM Reply Like
  • Patrick Young
    , contributor
    Comments (940) | Send Message
     
    RuggedDC> ""if I were TG I would also try to flush out weak hands before laying my golden egg"

     

    I think this is one of the silliest comments I've seen here (though there are many contenders).

     

    I can't imagine TG giving one iota of caring to this topic, nor does it make one iota of difference to the business of Axion."

     

    Silly or not, (i'm a big fan of metaphors), I think it's not without merit. TG is not a robot. He has feelings. He is angered by the lack of confidence in him and would take pleasure in knowing that some of those (expletives) got off the train for a smoke just as the doors were closing, waving "so long suckers!" as the train pulled away. As for the business, weak hands would be like a dampening effect on a powerful move upward.

     

    iindelco> I believe the weak hands are the ones who are reaching the end of their patience. These are the ones like OR, who are now saying "if X doesn't happen within some timeframe Y, I'm out".

     

    JP> I agree that the "wise" investor doesn't have an investment horizon. They buy and sell based on changes to their analysis of business fundamentals.

     

    Also, the famous quote by Keynes that "Markets can stay irrational longer than you can stay solvent" does not apply to holders of stock in a debtless company that paid cash for their holding.
    5 May, 12:31 PM Reply Like
  • Retired Aviator
    , contributor
    Comments (1443) | Send Message
     
    "I'm confident that management will not implement a reverse split unless the action will promptly take us to the NASDAQ."

     

    We must do a RS to sell new equity regardless of where the stock trades. I cannot imagine a deal going off at pennies a share. Too hard to find direct investors for that (though if I had the money I wouldn't care about penny stock status.).
    5 May, 12:39 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    Packages where a financing, a reverse split and a market upgrade plan all happen concurrently are not the least bit unusual. It takes some care and attention to detail, but its far from impossible.

     

    What you typically see in situations like this is a group of investors who agree to collectively provide an amount of financing as soon as a reverse split in an agreed ratio is implemented. They typically also want to see a pre-clearance letter from an exchange.

     

    It's not rocket science, but it is good lawyering. I'm sure Axion's legal counsel is up to the task.
    5 May, 02:37 PM Reply Like
  • Retired Aviator
    , contributor
    Comments (1443) | Send Message
     
    John> I'm just saying that an RS is a necessity now with a share price at pennies. A NASDAQ listing is optional; Axion never had it before and always found financing.
    5 May, 03:08 PM Reply Like
  • DRich
    , contributor
    Comments (4421) | Send Message
     
    >Retired Aviator ... I'm of the same feeling. Nowhere to go but to split.
    5 May, 03:16 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    Axion asked the stockholders to give the board authority to select a reverse split ratio of not less than 1 for 20 and not more than 1 for 50 any time before year end.

     

    If a reverse split was a necessity now, the ratio would have been fixed now.

     

    Management is seeking authorization that will let them negotiate with investors and the NASDAQ and defer the decision until all required parties are on board with a single plan.
    5 May, 03:22 PM Reply Like
  • Retired Aviator
    , contributor
    Comments (1443) | Send Message
     
    John> What I mean is that a reverse split is a necessity to obtain financing, a process which needs to begin being undertaken now. We don't need a split because we are at pennies; I think we need a split because it would be very difficult to obtain a capital infusion unless the share price is a lot higher than 14 cents.
    5 May, 03:31 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    You can get financing from ghetto financiers like the PIPErs at $.14 because they don't care.

     

    The investors Axion wants to do business with can't invest in ghetto-class deals and that means management has to have the corporate authority in hand to agree to a deal and implement it promptly.
    5 May, 03:45 PM Reply Like
  • Occam's_Razor
    , contributor
    Comments (1137) | Send Message
     
    <<<<<I believe the weak hands are the ones who are reaching the end of their patience. These are the ones like OR, who are now saying "if X doesn't happen within some timeframe Y, I'm out">>>>>

     

    @Patrick: That would be a 'somewhat' fair characterization of where I stand right now. I do need to see some indication (or path) to revenues, before I am willing to continue on this journey.

     

    To use an aviation analogy: I hit "joker" fuel during the PIPE, and I'm currently close to "bingo" fuel.

     

    The other issue is accountability. I put my trust in "significant sales"... "and not in six months." I fully understand that this is likely beyond the control of Tom... I don't care... there are consequences to everything. This is just one example.
    5 May, 03:54 PM Reply Like
  • raleigh731
    , contributor
    Comments (281) | Send Message
     
    PY,

     

    I can see a purpose for flushing out weak hands. They are the ones most likely to vote no on the RS. Flush them out, flush out the no votes. Good luck to all.
    5 May, 06:17 PM Reply Like
  • John Petersen
    , contributor
    Comments (29437) | Send Message
     
    My original statement was "I'd also want to flush out any weak holders that were on the verge of bailing."

     

    As a rule holders on the verge of bailing don't bother to vote and holders who have already bailed never vote, even if they held shares on the record date.
    5 May, 06:23 PM