Seeking Alpha

Axion Power Host's  Instablog

Axion Power Host
Send Message
Trying to learn stuff
Back To Axion Power Host's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (412)
Track new comments
  • bazooooka
    , contributor
    Comments (3215) | Send Message
     
    First?
    14 Aug 2014, 05:59 AM Reply Like
  • topcat1906
    , contributor
    Comments (74) | Send Message
     
    I feel like doing some catfishing today.
    14 Aug 2014, 06:20 AM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1957) | Send Message
     
    From the bank or a boat?
    14 Aug 2014, 06:55 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Edmund, both are good. Never used an arm for bait though so I can't speak for "all" being good. Think I lost my "noodles" anyway. A requirement for entry to Axionista heaven?
    14 Aug 2014, 07:27 AM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1957) | Send Message
     
    The only requirement for entry that I am aware of is a deep and abiding love for bottom-feeding. And catfish, naturally.
    14 Aug 2014, 07:59 AM Reply Like
  • topcat1906
    , contributor
    Comments (74) | Send Message
     
    From the safety of the bank. It is a good day for bottom fishing in the market.
    14 Aug 2014, 09:52 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    How Long Until Residential Battery Storage Reaches Grid Parity in Germany?

     

    http://bit.ly/1owNUwM
    14 Aug 2014, 07:47 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    How Long Until Residential Battery Storage Reaches Grid Parity in Germany?

     

    http://bit.ly/1owNUwM
    14 Aug 2014, 07:47 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Odd, think I found a loop hole in SA's multi-post denial software. Good thing I'm not malicious.
    14 Aug 2014, 07:52 AM Reply Like
  • Stilldazed
    , contributor
    Comments (2147) | Send Message
     
    Hi ii,
    "the Redflow battery will be competitive if the company can triple the device's cycle life.

     

    “In our view, this should be achievable,” according to the analysis"

     

    Oh yeah, all they have to do is improve cycle life to make it economical 3X. Piece of cake. ;-)
    14 Aug 2014, 11:05 AM Reply Like
  • Rick Krementz
    , contributor
    Comments (2693) | Send Message
     
    Also note that the tripling in life is assuming the 40 cents/kwh German retail pricing stays in effect, and the huge solar subsidies also remain.

     

    Remember German electricity is already about 3 times as expensive as US electricity.

     

    Piece of rainbow cake with prancing unicorns on top.
    14 Aug 2014, 11:10 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Stilldazed, Yeah, It was like the Axion/GM grant submission. Axion was to make the PbC higher energy density, higher power density and industrialize it to be cheaper.

     

    I do like all those headlines. "We are there!"
    Then in the body of the article you get all the someday and the gap analysis. Yep, I can fly, if I can get off the ground long enough.
    14 Aug 2014, 11:13 AM Reply Like
  • Stilldazed
    , contributor
    Comments (2147) | Send Message
     
    Faster than a speeding bullet. More powerful than a locomotive. Leap tall buildings in a single bound.

     

    Sound familiar?
    14 Aug 2014, 11:59 AM Reply Like
  • ARGE
    , contributor
    Comments (724) | Send Message
     
    RK "Piece of rainbow cake with prancing unicorns on top."

     

    I'm fine with that as long as they do not put wings on the unicorn. ;-)

     

    http://bit.ly/1pPNdN7
    14 Aug 2014, 03:19 PM Reply Like
  • siliconhillbilly
    , contributor
    Comments (2333) | Send Message
     
    Snicker, "All I need to become filthy rich is to increase my investment returns by 3X. I should be able to do that."

     

    Where do these analysts get their scientific training? The mind boggles.
    14 Aug 2014, 10:57 PM Reply Like
  • Stilldazed
    , contributor
    Comments (2147) | Send Message
     
    ii,
    Yeah, but what about your evil twin?
    14 Aug 2014, 11:05 PM Reply Like
  • greentongue
    , contributor
    Comments (945) | Send Message
     
    Train Tweets?
    14 Aug 2014, 08:08 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Still just sitting there.

     

    http://on.fb.me/1ox5yQQ
    14 Aug 2014, 09:53 AM Reply Like
  • Ranma
    , contributor
    Comments (1969) | Send Message
     
    That pic is from the same set as the pic shares last week.
    14 Aug 2014, 11:30 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Thanks Ranma, missed that. So maybe it's working up a storm somewhere? Or is it someday? Hopefully soon. Sigh...
    14 Aug 2014, 12:10 PM Reply Like
  • axion-nl
    , contributor
    Comments (181) | Send Message
     
    can we expect the 10-Q after the close?
    14 Aug 2014, 09:08 AM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    The Form 10-Q should be filed with the SEC by the close of business this afternoon.
    14 Aug 2014, 09:13 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    I thought they had until Friday? They didn't announce an earnings date did they? Or did RBrun get some info. on this? Heck not even a press release for earnings anymore. Tis BS. This is the only thing I've seen and it says Friday.

     

    http://bit.ly/1pPKEuC
    14 Aug 2014, 02:48 PM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    Under SEC rules, the 10-Q is due 45 days after the end of the last fiscal quarter - November 14th. When the 10-Q is filed there will be an earnings release. Historically Axion has made a habit of filing their reports late in the day and putting out a pre-market earnings release the following day. I would expect that pattern to continue.

     

    IIRC, RBrun said that he spoke with DDG who is considering a shareholder letter in lieu of a conference call for this quarter. That would make a lot of sense to me because of the legal risks of unscripted public comment while a registration statement is on file with the SEC for a planned financing.

     

    I guess we'll find out for sure sometime in the next 24 hours.
    14 Aug 2014, 03:01 PM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Thank You!
    14 Aug 2014, 03:03 PM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Well at least we got honorable mention in NSC's CDP as an industrial partner on the NS 999.

     

    http://bit.ly/1pPqYqD
    14 Aug 2014, 09:41 AM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    Iindy-

     

    Nice find. Here is the relevant quote:
    If I read this right the delay last year may have been in the BMS and that there were field trials last year..?..

     

    2007 - Launch of 999.v1
    2013 - Field Trials & BMS issues that arose during field trials
    2014 - Launch?

     

    In 2013, Norfolk Southern proceeded to enhance the battery management system to address technical challenges that arose during trial field operations. Norfolk Southern began developing a battery-powered locomotive in 2007, part of a larger initiative to explore alternative-powered engines to save on fuel costs, lower emissions, and reduce reliance on foreign oil sources. In 2014, we plan to roll out the next generation NS 999, outfitted with a bank of more technologically advanced hybrid lead-carbon batteries developed by industry partner Axion Power International
    14 Aug 2014, 10:22 AM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1957) | Send Message
     
    "The environmental benefit from shifting one truckload a day to rail for one year would be equivalent to planting 4,380 trees. The potential
    emissions avoidance and congestion mitigation benefits of NS’ freight rail services are tremendous."

     

    Far out!
    14 Aug 2014, 02:50 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18365) | Send Message
     
    08/13/2014: EOD stuff partially copied from blog (up now).
    # Trds: 64, MinTrSz: 400, MaxTrSz: 137000, Vol: 637170, AvTrSz: 9956
    Min. Pr: 0.0960, Max Pr: 0.1045, VW Avg. Tr. Pr: 0.1005
    # Buys, Shares: 19 120400, VW Avg Buy Pr: 0.1023
    # Sells, Shares: 45 516770, VW Avg Sell Pr: 0.1001
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:4.29 (18.90% "buys"), DlyShts 5000 (00.78%), Dly Sht % of 'sells' 0.97%

     

    There was one AH trade for 10K shares that FINRA-reported daily short sales don't include. Adding ...

     

    With volume at a decent level today, I assign more confidence to both the traditional and non-traditional evaluations today.

     

    I think the $0.10 resistance seems a bit less at risk in the near-term. This is mostly because the buy percentage is not able to maintain a healthy trend even with traditional TA charts reflecting the outliers and maybe some positive sentiment existing due the recent changes at Axion and the S-1 filing.

     

    When we get some volume combined with a very small push up in price, buy percentage seems to suffer. This tells me sellers are taking advantage of the buyers' positive sentiment to unload shares they don't want to hold. Assuming the usual situation exists that there's a lot more shares that are to be distributed than can be absorbed by the current buyers, I see nothing to push price beyond $0.10 consistently for now.

     

    On the traditional TA front, rising and reasonable volume combined with a close lower than the open would suggest weakness. The oscillators I watch, which had been mostly improving, went mixed today with ...

     

    Today continues to look positive for consolidation (sideways trading) to develop.

     

    I'm still wondering if this is the start of weakening seen in the middle weeks of the month.

     

    My non-traditional stuff still doesn't support a push above $0.10. If we remove just the largest 137K trade, average trade size is 7.9K. The average trade size over 10, 25, 50 and 100-day periods are 8913 , 9,896, 8,446 and 8,335 respectively. Smaller trade sizes haven't historically pushed prices up. My newer inflection point calculation values are weakening for the second consecutive day. Daily short percentage continues having trouble returning to normal ranges (0.78% today) and low daily short percentage tends to be associated with falling price.

     

    Only NITE had a 100K bid today. NITE also had the 600K bid at $0.085. The 100K was eventually taken after NITE moved it from $0.101 (12:56) to $0.102 (13:34). The order finished filling at 14:17.

     

    The price outlier today was an odd bird in that it had seven trades totaling 59K shares that had 9K in two sells and the rest in five buys for $0.1045. All occurred from 13:29 to 13:48. This price was +2.35% above the next lower price of $0.1021 (three trades 21.1K). The next lower price traded 100.4K in five trades. The $0.1045 trades were +2.45% above this price.

     

    In the non-traditional areas ...

     

    Buy percentage retreated from 31.5% VWAP improved. Since this was on good and rising volume, the pattern of sellers coming in when volume and price rises makes me doubt any break above $0.10 on a consistent basis is near. I'm still not seeing any sign that we'd be likely to go below $0.09 in the near-term.

     

    The larger trades (>= 15K) occurred on 6 of the 64 trades, 9.38%. These 323,100 shares were 50.71% of day's volume, and traded at a VWAP of $0.1009. 1 of the larger trades ...

     

    The other 58 trades, 90.63% of the day's trades, traded 314,070 shares, 49.29% of the days volume. The VWAP was $0.1001. 18 trades, 31.03%, ...

     

    The usual is in the blog here.
    http://seekingalpha.co...

     

    HardToLove
    14 Aug 2014, 09:45 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18365) | Send Message
     
    200K trade $0.097 w/no bid/ask at that price. ATDF had a 100K at that price earlier, seen at 09:45. Since no bid/ask visible at the time of the trade, 12:14, must be an intra-broker/MM trade?

     

    B/a then was $0.096 x 100K/$0.0998 x 10K.

     

    HardToLove
    14 Aug 2014, 12:18 PM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Delivering the goods.

     

    Stored energy from Greensmith

     

    "Storage system: Greensmith, a provider of grid-scale energy storage technologies, announced it is on track to successfully integrate an additional 4 new battery types in 2014, bringing the company’s total since inception to 12 using its battery-agnostic technology platform, now in its fourth generation."

     

    " We’re quite pleased to be on pace to successfully integrate our 12th battery type by the end of 2014 ­ and while it’s become fashionable to proclaim battery-agnosticism in the marketplace, it’s quite another thing to have actually executed and delivered the goods.”"

     

    http://bit.ly/1pPI1ce
    14 Aug 2014, 02:03 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    ii - If I were to find out that Axion, or the VP of marketing, has never contacted any of these smaller "battery agnostic" companies, I think my head would explode.

     

    Even if their model is not currently a fit for Axion.
    14 Aug 2014, 02:36 PM Reply Like
  • Rick Krementz
    , contributor
    Comments (2693) | Send Message
     
    Stefan - Why don't you ask Vani?

     

    (My guess is <.....>. Remember his boss did not permit any data release without a signed NDA. Hard to implement a charging protocol if the charge voltages and times are a secret.)
    14 Aug 2014, 02:42 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    I have sent emails and letters before, always in a very cordial manner. I think one time around the time Vani started I received a response.

     

    Besides, they follow this blog.
    14 Aug 2014, 02:55 PM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Stefan, Don't fret, you'll never know. Your head is safe. Maybe not your hair! ;-D
    14 Aug 2014, 02:56 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    Can you really see my bald spot? bahahaha
    14 Aug 2014, 02:59 PM Reply Like
  • Rick Krementz
    , contributor
    Comments (2693) | Send Message
     
    Stefan - A few months go it was stated that Axion management did NOT follow this blog.
    14 Aug 2014, 02:59 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    RK - That is not what they told me in person at the dinner at last year's annual meeting.

     

    But then again TG also told Al that any additional raises would only be for expanison, after he gave the same line to Maya a year before that ...

     

    PbCB/BA/one of Axion's biggest benefactor's over the years was right, with that kind of track record it was tick tock on the clock.
    14 Aug 2014, 03:02 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10318) | Send Message
     
    RK: Chuck Trego follows this blog. Heard that from TG in 2012 at the cocktail party, with Chuck standing right beside TG at that time. TG added that even he once in a while would take a peek.

     

    We know that Enders Dickerson also stated to JP that he read the blog, routinely.
    14 Aug 2014, 06:05 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10318) | Send Message
     
    Stephan: Yep, that happened. But I believe that that "expansion" comment was more for "production oriented purposes."

     

    Hence, after some reflection, back then I gave TG a pass on that comment, as the automated carbon sheeting line didn't exist before that comment.

     

    I wasn't at the meet when TG told Al more money was going into expansion.
    14 Aug 2014, 06:06 PM Reply Like
  • Rick Krementz
    , contributor
    Comments (2693) | Send Message
     
    I agree they should be, and probably are, reading this blog. I was merely repeating what was reported a while back.

     

    They'd be foolish to totally ignore it.
    14 Aug 2014, 07:18 PM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    I have heard on occasion that "officially" they do not follow the blog but you can bet they do atleast a little bit.

     

    TG's letter to the Shareholders explaining the RS was hastily put together from probable emails to the company and from reading the initial reactions on this blog.

     

    With JP and Ed Buiel formerly posting here and Bob Averill currently posting here for several months I wouldn't be surprised if other member of the BOD and other mgmt. employees read this.

     

    When I worked for the airlines (before twitter) and message boards were just getting going Operation staff for one of the airlines I worked often kept an eye on a couple of message boards for frequent flyers as they would often get news of cancellations before the official channels.
    14 Aug 2014, 03:18 PM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    The safest thing directors and officers of public companies can do is avoid message boards, even really good ones, because being a regular reader raises thorny issues about correcting inaccurate public perceptions. That being said, the temptation to sneak an occasional peak is strong.

     

    It's pretty safe for former directors, officers and employees to join the conversation if they're so inclined, but caution is required to avoid inadvertent steps over the line into the realm of non-public information.
    14 Aug 2014, 03:26 PM Reply Like
  • futurecartsla
    , contributor
    Comments (458) | Send Message
     
    since the SEC now allows social media for disclosure I wonder if posting on this blog could be allowed if all investors were informed of it?

     

    http://1.usa.gov/1oytHH1
    14 Aug 2014, 07:03 PM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    The rules offer a number of opportunities for using social media as a disclosure tool, but it's almost impossible to comply if you're using a social media format that isn't controlled by the issuer.
    14 Aug 2014, 08:48 PM Reply Like
  • D-inv
    , contributor
    Comments (4178) | Send Message
     
    "... I wouldn't be surprised if other member of the BOD and other mgmt. employees read this."

     

    I rather suspect more than two x-Axion board members are posting here.
    14 Aug 2014, 09:00 PM Reply Like
  • LT
    , contributor
    Comments (5382) | Send Message
     
    JP, every major company is following social media now. It may be the BOD or someone in the PR dept...but the issues are reported to mgt & on to the BOD. Just read the news when something goes viral.

     

    Such as Comcast right now....do you really think the videos of customer service hasn't been played to the BOD ?
    Major decisions will be made about this, and it will come from the BOD.
    15 Aug 2014, 03:07 AM Reply Like
  • LT
    , contributor
    Comments (5382) | Send Message
     
    The ex-Brightstar CEO admitted (among other things) Sprint's 4G buildout took too long, that social media chatter about the company is mostly negative, and that Sprint didn't react quickly enough to moves from rivals (read: T-Mobile).
    15 Aug 2014, 03:23 AM Reply Like
  • 42itus1
    , contributor
    Comments (232) | Send Message
     
    Just got home from a lovely meal at the soup kitchen to find a message from MAXUM, calling in regards to my investment in AXION. Now my investment is sized according to my soup kitchen budget so I haven't a clue why I have gotten such a call. Anyone else received same or spoken to these guys. As cold calls go I am possibly willing to call back.
    14 Aug 2014, 03:24 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10318) | Send Message
     
    42: So Maxim is doing a reach out/email cold call to current investors to get into this next cap raise? Unprecedented.

     

    Wow! Guessing Maxim is having more difficulty in gathering an investor group than has been suggested in this blog.

     

    To me, this is a very alarming and scary development.
    14 Aug 2014, 06:16 PM Reply Like
  • DRich
    , contributor
    Comments (4825) | Send Message
     
    >Mayascribe ... Here's hoping that ePower gets a tractor on the road soon. It is the only hope for visibility to investors that Axion can point to ... just not yet.

     

    Declining sales is a problem. Pray for PowerCubes ... marketing, such as it might be, hasn't worked.
    14 Aug 2014, 06:20 PM Reply Like
  • bazooooka
    , contributor
    Comments (3215) | Send Message
     
    42,

     

    You should call back and find out the minimum investment. Last time I was contacted for one of these - they wanted to make sure I was accredited and have 6 (up to 7) figures to invest. Maybe the standards have been lowered.
    14 Aug 2014, 06:23 PM Reply Like
  • bazooooka
    , contributor
    Comments (3215) | Send Message
     
    Maya, many on this blog have always wanted to be able to average down in placement, maybe this is their chance. Not so sure this is "scary" since I trust an Axionista to hold their shares longer than an unaffiliated vulture investor (i.e. those from the last rounds).
    14 Aug 2014, 06:25 PM Reply Like
  • myhershey
    , contributor
    Comments (34) | Send Message
     
    Would you mind sharing the number that MAXUM left.
    14 Aug 2014, 06:26 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10318) | Send Message
     
    zooooka: I used to be one of the foremost touters of Axion Power. My shares were in as strong of hands as any Axionista. But that changed some 17 months ago.

     

    Now we have complete evidence that the toll contract is winding down, opposite of the hopes written about in this blog.

     

    Axion is laying off (something I wrote that would occur months ago) and now it appears so desperate to raise money that Maxim is cold calling small position holders of AXPW (something I never had expected to occur).

     

    I agree with you that it's all about trusting all the Axionistas, or at the very minimum, most of the Axionistas to endure this forthcoming hat trick.

     

    I get it. One for all, and all for one. But just how many of those Axionistas do you really, really know? Really, really trust?

     

    With your money.
    14 Aug 2014, 06:45 PM Reply Like
  • Amouna
    , contributor
    Comments (1773) | Send Message
     
    MAya,

     

    add to that the fact that Norfolk Southern has been scrapped out of the report, and I am not that enthusiastic about the NS999 coming out ANYTIME soon...

     

    We have been left with a bag of sand I am afraid, or at least it feels like it, but something is definitely not smelling good!
    14 Aug 2014, 06:45 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10318) | Send Message
     
    Amouna: No surprise there. As tripleblack pointed out a few moons ago, NS is probably waiting for government subsidies. And Congress is not in session.

     

    Likely, such subsidies won't happen until we get into the next election cycle, if they happen at all.

     

    I agree, the 999 will not be (publically) rolling soon, at least not until there's significant performance over a duration of time that NS can make sure that the battery management system is indeed workable, as are the batteries themselves, and will provide a sweet return on investment, while also reducing particulate emissions.

     

    As things stand right now, that's exactly what the 999 is doing...standing.
    14 Aug 2014, 06:53 PM Reply Like
  • Amouna
    , contributor
    Comments (1773) | Send Message
     
    So what are we really left with?? Seems nothing is coming anytime soon and we will be diluted into oblivion. I gotta thank Thomas Granville for the fantastic job he has done with this company. Nice job Tom!
    14 Aug 2014, 06:56 PM Reply Like
  • Rick Krementz
    , contributor
    Comments (2693) | Send Message
     
    Maya - I would put the cold call, if that is what it is, as anomalous, but not necessarily alarming. I don't know what to make of it.

     

    I look forward to 42 reporting back with more info. Anybody else get contacted? Presumably there a few hundred stockholders on this board that would be similarly contacted if it really was an APC cold call.

     

    42, how did they get your telephone number?
    14 Aug 2014, 07:38 PM Reply Like
  • nakedjaybird
    , contributor
    Comments (2833) | Send Message
     
    As I earlier commented, it takes 10 - $1.5 million bigger investors, 100 - $150k risk-taking investors, and now if you want to shake the bushes looking for 1000 - $15k Axionistas; how many of all three groups can be trusted with our money, or trusted period?

     

    Somebody(ies) wants us current owners to be a speck, if not gone, period.

     

    Not even BMW, NS, or the other biggies seem to care if AXPW survives. The IP and the facilities will survive the financial fix, and who will be part of that Phoenix ain't us.

     

    There must be even bigger artists than the PIPers at work out there.

     

    Love to be proven wrong.

     

    A month and 1/2 is a very short period of time.

     

    And long for some others.
    15 Aug 2014, 02:45 AM Reply Like
  • magounsq
    , contributor
    Comments (988) | Send Message
     
    ditto...2 missed MAXIM calls...and I'm small potatoes...now...
    ...;-(...curious where they get the info...
    16 Aug 2014, 12:45 PM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    For several hundred bucks a public company can order a list of "Non-objecting Beneficial Owners" that includes name and address information for all brokerage accounts where the account owner did not check the "Don't disclose my identity to issuers" box when the account was opened.

     

    While institutional investors usually select the non-disclosure option because they want to maintain as much secrecy as possible, retail investors usually don't bother. Since the regulators and the brokerage houses actively discourage the non-disclosure option, a NOBO list will usually identify 60% to 90% of a company's stockholders.

     

    With a recent NOBO list and an online phone book, phone numbers are no problem.

     

    This kind of stockholder information is highly sensitive and companies only disclose it to their brokers under strict NDAs. Frequently the disclosures are limited to name and address data without share ownership data. In any event, there's no risk that you'll become part of somebody's deal a day call list.
    16 Aug 2014, 01:14 PM Reply Like
  • magounsq
    , contributor
    Comments (988) | Send Message
     
    Thanks John!
    17 Aug 2014, 11:26 AM Reply Like
  • KillaCycle
    , contributor
    Comments (573) | Send Message
     
    I can't think of a _successful_ battery start-up that required an NDA before the sale of a production line product. Can you?

     

    Conversely, every battery start-up that I have seen fail required an NDA before a sale, even when they reached the point were they had something in production. No exceptions that I can recall. NDA for a factory tour is standard, but not for a simple product sale.

     

    This is not the first time I have made this observation. Been watching battery companies come and go for about 30 years.
    18 Aug 2014, 11:21 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Killa, Curious because I've also been watching battery companies for almost as long. Probably not at the same level as yourself. How would you have been able to get information on a statistically relevant sample of battery companies over the time frame observed to make a statement about NDA requirements correlating to the propensity of the company to fail? I'd love to see the data if you could share.
    18 Aug 2014, 11:44 AM Reply Like
  • KillaCycle
    , contributor
    Comments (573) | Send Message
     
    A good example that comes to mind is Bolder Technologies. Went bankrupt in 2009. They required an NDA to purchase their cells.

     

    The Bolder Technology cells had spectacular specific power. 10,000 w/kg. However, that came at a price. They had issues with high self discharge, which in-turn lead to troublesome shelf-life issues. They didn't really want the public to know that, thus an NDA before any sale.

     

    There can be no mass marketing of a battery with an NDA requirement for every sale. Shackled with this restriction on marketing, the battery company eventually goes bankrupt.

     

    Complicated tech support calls for a liability release or maybe user instructions, not an NDA. An NDA is specifically for secrets, both good and bad.
    19 Aug 2014, 01:55 PM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Thanks, I'm sure we can find examples of NDA use and the opposite for a number of companies but correlating this to success or failure would IMO be quite a feat.

     

    I found this article interesting. It concerns NDAs and is somewhat educational for those that don't have much knowledge on the topic. I'd reviewed it some time ago and found it worthwhile.

     

    What is important in a confidentiality agreement or non-disclosure agreement (NDA)?

     

    http://bit.ly/1rTNRZz
    19 Aug 2014, 02:35 PM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1957) | Send Message
     
    Killa, Do you think Axion is hiding a "good secret" or a "bad secret" behind their NDAs? Any idea what that secret might be?
    19 Aug 2014, 03:15 PM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Edmund, The eternal question.

     

    http://bit.ly/1oOyMen
    19 Aug 2014, 03:35 PM Reply Like
  • D-inv
    , contributor
    Comments (4178) | Send Message
     
    "What is important in a confidentiality agreement or non-disclosure agreement (NDA)?"

     

    Thanks for the reference, ii. At this point I suspect NDAs used by Axion in the past are of the "Non-disclosure and non-use" variety and entail provisions approximating Axion insertion in the client of a corporate colonoscope insuring flowback of information to Axion on PbC performance in the application at hand. Otherwise every customer Axion permitted to purchase PbCs would not present a heavy call on Axion "support" resources as expounded upon ad nauseum with such certitude by John and nakedjaybird. That 'flowback' or information sharing would also be consistent with Rick's remarks regarding bureaucratic burdens in wake of signing an NDA and mutuality of nondisclosure provisions would explain the virtual absence of technical information from Axion on PbC characteristics and performance prior to and following the "White Paper" presented in Istanbul. Expiration of early NDAs (and mutual consent on later ones) could explain why (and how) Rosewater Energy Group was able to publish technical information on PowerCubes while Axion continues to publish or otherwise disclose next to nothing about PbCs.

     

    It appears to me that under Thomas Granville's leadership Axion devoted resources to two things -- 1) in-house development of manufacturing techniques and production capabilities and 2) a Science Fair R & D project that included a commercialization masquerade from late 2011 (if not earlier) through June 2014.

     

    19 Aug 2014, 04:12 PM Reply Like
  • KillaCycle
    , contributor
    Comments (573) | Send Message
     
    Firefly, as I recall, required an NDA for battery sales. Nilar doesn't.

     

    I can't think of any successful battery company (high battery sales number) that requires an NDA before a sale. Can you?
    19 Aug 2014, 08:50 PM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    I spoke at the 2013 annual meeting of Nilar's biggest stockholder and then visited Nilar's factory outside Stockholm. They're a fine company and they're making good progress developing cost effective manufacturing processes for their bipolar NiMH battery, but they're a long way from being "a successful battery company."

     

    Axion won't be a high volume manufacturer until PowerCube sales take off or an OEM launches a new consumer product that's designed and built to take advantage of the PbC's strengths and accommodate its weaknesses.

     

    What manufacturers of commodity batteries do is irrelevant.
    19 Aug 2014, 09:26 PM Reply Like
  • geopark
    , contributor
    Comments (319) | Send Message
     
    Whoa Killa . . looks to me like Bolder Tech went public in ~1996, cut ~71% of their workforce (89/126) in jan2001, trading was halted in mar01. I see you are correct that they did go BK in 2009 but it appears to me that the death knell really sounded when Target and WalMart stopped selling their products in spring2001.

     

    I do not believe that your comparison between Axion and Bolder due to NDA restrictions holds water. I believe the Bolder downfall was simply because they had a 'cool' product, strong backing, sales outlets (Target/Wal-Mart), but a product which was ultimately of little value to the buying public.

     

    I believe that the the PbC will succeed because it will ultimately be of value to buyers. Whether legacy shareholders will benefit from that success is still an open question in my mind.
    19 Aug 2014, 09:36 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    Geo -

     

    "Whether legacy shareholders will benefit from that success is still an open question"

     

    I would submit that the above question is the most important question to the existence of this blog. Whether the participants here will benefit from a successful Axion. And I agree with you that is a very open question that has been trending negative for some time now.
    19 Aug 2014, 09:44 PM Reply Like
  • KillaCycle
    , contributor
    Comments (573) | Send Message
     
    Can anyone think of a battery company, that is out of the prototype phase and in mass production, that requires an NDA before a battery can be sold? If there is one, I'd be interested to know.

     

    Bolder (bankrupt in 2009) required an NDA on cells, but not the retail product, the SecureStart. You have to ask yourself why. Couldn't a devious person go to Sears, buy the SecureStart, take it apart, and learn all about the TMF cells without ever signing an NDA? (Again, you have to ask yourself, if Bolder had such a "cool product", why did Target, Walmart, Sears, etc. stop buying them?)

     

    Nilar (no NDA for battery sales) is muddling along making and selling batteries, and has been successful for a quite a few years. Nilar sells a "niche" battery. Lightweight, rechargeable, very safe, but a bit expensive to manufacture.

     

    There are countless examples of successful battery companies that do not require an NDA to buy their batteries. However, I don't know of any successful battery company that does require an NDA for a production battery, (that avoided inevitable bankruptcy.)
    19 Aug 2014, 11:16 PM Reply Like
  • DRich
    , contributor
    Comments (4825) | Send Message
     
    >KillaCycle ... This is one inane premise your trying so hard to push. Entertaining but irrelevant.
    19 Aug 2014, 11:44 PM Reply Like
  • isthisonebetter
    , contributor
    Comments (363) | Send Message
     
    Killa,

     

    Is it remotely possible that as the business landscape changes and Axion establishes their name, so does the NDA policy change? I guess starting with an answer prevents full consideration of the circumstances.
    19 Aug 2014, 11:45 PM Reply Like
  • Retired Aviator
    , contributor
    Comments (2157) | Send Message
     
    Killacycle has a lot of technical knowledge of batteries and I have much respect for that. However he seems bent on bashing Axion as every time he pokes his nose in here it is only to rain on Axion's parade. Not sure why the negative bias but I'm sure that's the case 'cuz IIRC he's never had a word positive to say or even neutral about Axion or PbC. All negative. I'd call that bias. I don't even understand why somebody with such a negative view would bother following this blog.

     

    This notion du jour he's pushing that an NDA policy for tinkerers will lead to bankruptcy is one of the more absurd non sequiturs I've seen in a while. Really? If BMW adopts PbC for a production model then the NDAs are still going to hold Axion back and sink the ship? If the fantastic economics of PowerCubes leads to geometric sales growth those NDAs will be straight jackets? C'mon. Find a new point to bash that is at least entertaining.
    20 Aug 2014, 12:57 AM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    Killacycle was a primary PR tool for A123 Systems which supplied the batteries for his electric motorcycle. He was irritated when I noted flaws in A123's business model that made its stock grossly overvalued, incensed when I suggested that A123 was on a path to ruin and speechless when A123 went bankrupt for the reasons I cited in many articles. He's never forgiven me for observing that his favorite emperor was naked while everybody else was praising its finery. When all else fails, you try to kill the messenger.
    20 Aug 2014, 05:31 AM Reply Like
  • Bob Averill
    , contributor
    Comments (268) | Send Message
     
    Isthisonebetter,

     

    Your name is perfect in this instance.

     

    Early on, a new technology can't afford to be tarnished by some person miss-applying it and then telling the world that it is useless, so NDAs and the demand that experimental batteries be returned during that phase make perfect sense. However, if you let that "everything's a secret" mentality continue for too long it damages your credibility and it impedes your ability to market a product that you have by then proven to work.

     

    The PbC battery has proven itself to work as claimed and its weaknesses have already been exposed, so the need to protect it in that manner (and others) has arguably passed.

     

    Changes are being made at Axion and perhaps this policy of protection and product characterization  secrecy will be among the changes.
    20 Aug 2014, 06:42 AM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    I share your view on this issue Bob.

     

    When the team was actively developing new electrode fabrication processes, carbon sheeting technologies, and other manufacturing methods that were likely to have a major impact on product performance, there was more than ample reason to enforce a strict NDA policy, restrict access to technical specifications and require the return of prototypes.

     

    Now that all four corners of the manufacturing process *appear* to be nailed down and there's a reduced risk that the PbC produced next month will be significantly better than, or merely significantly different from, the PbC produced last month, I think it's time to publish comprehensive data and update the information as changes are implemented.

     

    The PbC is not a silver bullet for all applications, but it's a beast in high rate partial state of charge applications and the world needs to know that.
    20 Aug 2014, 07:52 AM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    "I think it's time to publish comprehensive data and update the information as changes are implemented.

     

    The PbC is not a silver bullet for all applications, but it's a beast in high rate partial state of charge applications and the world needs to know that."

     

    A big amen to the above. I have and continue to believe that brutal honesty to adopting industries at what Axion is good at and not good at will be a competitive advantage over the other hucksters.
    20 Aug 2014, 08:35 AM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    It's important to remember that being too open during the technology development phase would have resulted in constantly changing numbers as new manufacturing processes were developed and improved.

     

    AFAIK the reason the PbC was never tested beyond 2,500 cycles was that the technology was changing fast enough that the test batteries were basically obsolete before cycle count got high enough to matter.
    20 Aug 2014, 09:17 AM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    John - I get it, but it's past time to unleash the beast.
    20 Aug 2014, 09:29 AM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    Let's just agree that the time is right today, regardless of what happened in the past.
    20 Aug 2014, 09:50 AM Reply Like
  • renim
    , contributor
    Comments (1208) | Send Message
     
    Bob

     

    Agree that there were risks with releasing a consumer application product (ie PbC in car battery format - but unsuitable for car applications), but there are many formats that are industrial use only.

     

    Axion has, and remains averse to product attributes disclosure, and so denied/s of much needed real world use of their product.

     

    Since Axion is essentially selling a energy capacitor (but not a power battery) perhaps Maxwell examples would be indicative
    datasheet http://bit.ly/1lhzTm9

     

    test procedures
    http://bit.ly/1lhzTmc

     

    sizing
    http://bit.ly/1lhzW1t
    20 Aug 2014, 10:16 AM Reply Like
  • 481086
    , contributor
    Comments (3442) | Send Message
     
    From somewhere in the great beyond I think I hear Victor Laslow saying: "Welcome to the fight..." ;)
    20 Aug 2014, 12:06 PM Reply Like
  • nakedjaybird
    , contributor
    Comments (2833) | Send Message
     
    John - what the world really needs to know it that there is a HRPSOC "solution" to all the "problems" or opportunities not yet discovered.

     

    It's like the PbC is a solution looking for a problem.

     

    How many HRPSOC applications exist, and how many are really undiscovered, yet???

     

    It's like "who cares"!
    20 Aug 2014, 12:19 PM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    Let's just say that the energy storage landscape is like a big white canvas with a few blotches of color scattered here and there for proven applications of existing technologies. Turning white space into color will almost certainly be more profitable than scrapping with others over existing color.
    20 Aug 2014, 12:46 PM Reply Like
  • KillaCycle
    , contributor
    Comments (573) | Send Message
     
    >> NDA <<<
    Hmm. Looks like the NDA discussion (not brought up by me, by the way) touched a nerve. Now you are attempting to divert attention from the NDA discussion by making it somehow personal. That makes it all the more interesting. It looks like the NDA requirement for battery sales is likely motivated to hide "bad secrets", given your reaction.

     

    In your own words, "When all else fails, you try to kill the messenger."

     

    >>> A123 <<<

     

    The A123 folks are pals of mine, not business partners like Axion is to you. We chose A123 batteries because they are the best possible choice for racing, not because of some financial agreement. Our racing program is successful enough that we have always had a wide selection of free batteries to choose from. We want to go fast, so we chose the best batteries, rather than the battery sponsorship package that paid the best. In electric racing, it is all about the batteries.

     

    Now that you have brought it up, your take on A123 was that there was something wrong with the technology, rather than the business model. Because of that complete misconception, you incorrectly predicted that there would be no bidding war at the bankruptcy.

     

    You also completely missed the key factor that caused A123 to go into bankruptcy. The price of commodity Li-Ion was ~$300 per kw-hr (not $1200 as you believed at the time.) They were making a high-end battery at a high-end price, but trying to compete head-to-head with $300 Chinese commodity cells. This was a losing proposition.

     

    Now that the new management at A123 has refocused on high-end applications (where high cycle life, high power, long calendar life, etc. are valued) they are quite successful and will continue to be so.
    20 Aug 2014, 03:08 PM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Killa, I'd say that A123's manufacturing mishap had a lot to do with their BK as well. It was a amateur mistake that should not have happened with the systems in place at all of the mature auto companies.
    20 Aug 2014, 03:34 PM Reply Like
  • Kenneth_2003
    , contributor
    Comments (58) | Send Message
     
    Isn't the whole NDA issue a moot point? It's the customers wanting them, not Axion. I seem to recall TG getting scolded by BMW a while back for saying too much. It's the customers wanting to keep things under wraps. Especially if they hope they're getting a year or more jump on their competitors when they're having to build a new product around the battery.
    20 Aug 2014, 03:52 PM Reply Like
  • KillaCycle
    , contributor
    Comments (573) | Send Message
     
    The pouch cell tab misalignment error was unfortunate. It was, however, just a kick in the pants on the way out the door.
    20 Aug 2014, 04:01 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    "It's the customers wanting to keep things under wraps. Especially if they hope they're getting a year or more jump on their competitors when they're having to build a new product around the battery."

     

    We don't know that and there has been suggestions here by respected commentors otherwise.
    20 Aug 2014, 04:10 PM Reply Like
  • D-inv
    , contributor
    Comments (4178) | Send Message
     
    "Isn't the whole NDA issue a moot point? It's the customers wanting them, not Axion."

     

    Two thought there, Kenneth. NDA a moot issue and who wants them. Read the NDA discussion again and you will find that Axion required prospective customers to sign NDAs before selling them any PbCs.

     

    As to whether the NDA issue is moot at this point, it remains to be seen whether new management will continue past corporate policy regarding NDAs.
    20 Aug 2014, 04:14 PM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1957) | Send Message
     
    Until Axion has money for IP lawyers, I hope they continue the present NDA policy. I see no advantage whatsoever to ceding control. I remain wary of what seems to be a large number of miscreats and malefactors including past IP losers and pissed-off investors, some of whom show up here or on yadoodle to vent their anger and sorrow. I remain concerned with the recent departure of Vlad on top of previous technical expert departures, the recent patent at EP from the previous Axion R&D director, the Russians behind the curtain, the CSIRO UBers who have overlapping IP and a whole lot of resources, not to mention the identity of Rambo.

     

    I would like Axion to release more grid storage testing data, in as many forms as they can. Any data with respect to the PbC, in fact. I have a bigger problem with their lack of data output than I do with any NDAs in play.
    20 Aug 2014, 05:19 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    Ed,

     

    "I have a bigger problem with their lack of data output than I do with any NDAs in play."

     

    I can see that POV too ...
    20 Aug 2014, 09:25 PM Reply Like
  • D-inv
    , contributor
    Comments (4178) | Send Message
     
    " I have a bigger problem with their lack of data output than I do with any NDAs in play. "

     

    My take. To have less of a issue with the apparent primary cause of a lack of data from Axion than with the effect of the problem is a non sequitur.
    20 Aug 2014, 10:01 PM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1957) | Send Message
     
    No, it's not, D-inv; your premise is wrong: But you're free to keep thinking whatever you want.
    21 Aug 2014, 04:18 AM Reply Like
  • SMaturin
    , contributor
    Comments (2305) | Send Message
     
    I believe Ed's point is that it would be better for Axion to be publicizing select performance data which highlights the PbC strengths, rather than to have end users publicizing their disappointments because it did not match their expectations in an application for which it was not suited.
    21 Aug 2014, 10:47 AM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1957) | Send Message
     
    Nice paint job.
    14 Aug 2014, 04:00 PM Reply Like
  • Ranma
    , contributor
    Comments (1969) | Send Message
     
    It was a 1000 share order... was it an Axionista or MM?
    14 Aug 2014, 04:02 PM Reply Like
  • ARGE
    , contributor
    Comments (724) | Send Message
     
    Solar freaking roadways: Coming to a city near me?
    http://bit.ly/1pPRvUS

     

    Can't forget the Detractors:
    http://bit.ly/1pPRwba
    14 Aug 2014, 04:05 PM Reply Like
  • Stilldazed
    , contributor
    Comments (2147) | Send Message
     
    Hi ARGE,
    We can't even get pot holes filled out here. So I don't see this happening except as a pilot project. Notice there is no discussion about the decrease in output from tire wear (rubber on the panels) or the normal oil residue on roads? I think this is another green cool idea without much practical application unless you want to use it in your driveway (to charge a power cube of course).
    16 Aug 2014, 02:18 PM Reply Like
  • jveal
    , contributor
    Comments (659) | Send Message
     
    quarterly filing.

     

    http://bit.ly/1oy6N2k
    14 Aug 2014, 04:39 PM Reply Like
  • Al Marshall
    , contributor
    Comments (544) | Send Message
     
    I took a quick look and didn't see any info that wasn't in the S-1. Hopefully there'll be an investor letter tomorrow morning.
    14 Aug 2014, 04:48 PM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    Agreed Al. I hope to hear something.

     

    I know in the S1 Stefan or Mr. I pointed out the reduction in headcount from 80+ to 50.

     

    There is this comment.
    The decrease in net sales is due to a series of orders for unbranded flooded lead–acid batteries with the purchaser carrying the cost of inventory and providing the raw materials for production. The long anticipated decrease in business with aforementioned purchaser was initiated in the middle of the second quarter of 2014 and will impact the comparability of our 2014 third and fourth quarter and full year reporting periods compared with 2013 for the sale of lead-acid batteries.

     

    Here are the sales # of the East Penn Contract
    Q1 2013 - $2,365k
    Q2 2013 - $1,969k
    ... (I don't have my spreadsheet with Q3 and Q4 with me)
    Q1 2014 - $1,948k
    Q2 2014 - $1,516k

     

    Also note the drop in Inventories of over $500k and the business with East Penn will probably really drop in Q3 and Q4.
    14 Aug 2014, 05:16 PM Reply Like
  • bazooooka
    , contributor
    Comments (3215) | Send Message
     
    Sales numbers falling faster than most had predicted. I think those who said losing the generosity of EP will be a non-event may want to relook at things. Staff reductions seem unavoidable if Q3 and Q4 drop toward 1M in revenue. Not good when quarterly revenues are only a small multiple of officer salaries.
    14 Aug 2014, 05:36 PM Reply Like
  • greentongue
    , contributor
    Comments (945) | Send Message
     
    http://bit.ly/1pQ80jM
    "I hear the train a comin'
    It's rolling round the bend
    And I ain't seen the sunshine since I don't know when,"
    14 Aug 2014, 06:48 PM Reply Like
  • Ranma
    , contributor
    Comments (1969) | Send Message
     
    The quarterly bleed was about the same as before. Staff reductions must have evened out the revenue loss.
    14 Aug 2014, 09:32 PM Reply Like
  • Amouna
    , contributor
    Comments (1773) | Send Message
     
    Norfolk Southern is nowhere to be found on the freaking report either, and forget the automotive OEM etc...

     

    Was TG taking us for a ride all along? I sure hope not.
    14 Aug 2014, 06:43 PM Reply Like
  • Amouna
    , contributor
    Comments (1773) | Send Message
     
    Why has the NS999 suddenly disappeared from the report? I don't understand. Has anyone noticed this too?
    14 Aug 2014, 06:52 PM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    Amouna I agree. It feels like we've just been told that 60% of what has kept us here is gone. The Grinch took the presents. There is a whole section missing that was in the q1 file and is now missing:
    "Although our work continues in other areas:
    ·Hybrid trains with Norfolk Southern on both all electric ‘yard slugs’ and ‘over the road’ hybrid trains;
    ·Vehicle manufactures with single or two battery systems for micro-hybrid and stop/stat markets;
    ·Off grid power and storage for grid tied and non-grid tied applications;
    ·Street lights and charging stations;
    ·And numerous demonstration project:

     

    If Iindy hadn't posted that report from NS today where it gave somewhat of an update on the 999 and its issues last year I'd be slitting wrists...
    14 Aug 2014, 07:48 PM Reply Like
  • Amouna
    , contributor
    Comments (1773) | Send Message
     
    mrholty,

     

    I cant find this section on the 10-Q, do you mind telling me which page it is on?

     

    thanks a lot!
    A
    14 Aug 2014, 07:50 PM Reply Like
  • tripleblack
    , contributor
    Comments (13583) | Send Message
     
    I took that NS report as perhaps referring to field tests of the BMS. Probably not of the BMS installed IN the working 999, given the surveillance of said loco.
    14 Aug 2014, 07:53 PM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    Amouna-

     

    Sorry about that. Its not there. I was bouncing between the Q1 and Q2 file.

     

    I really hope DDG publishes a letter. I have no idea of what it will say but we need to hear from the captain.
    14 Aug 2014, 07:56 PM Reply Like
  • Amouna
    , contributor
    Comments (1773) | Send Message
     
    No wrist slitting mrholty, it's not worth it ;)
    I really hope they have something to say on this chapter, otherwise it will really feel like we are have been taken to the cleaners.

     

    Surely a whole section on railroad and automotive work can't just disappear from a Q report. TG may be naive in some respects, but he is not that reckless with the law, or at least I hope not for his own sake.
    14 Aug 2014, 08:07 PM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    Any body notice this little change in the MD&A.

     

    Q1: In a separate initiative with investors, we continue to pursue site selection for multi mega-watt systems that would service the frequency regulation market. Our 1.25MW (or any multiple thereof) building block is a sweet spot for this market.

     

    Q2: In a separate initiative with <b>potential new</b> investors, we continue to pursue site selection for multi mega-watt systems that would service the frequency regulation market. We believe our 1.25 megawatt (or any multiple thereof) building block is an appropriate size for this market.

     

    I find in interesting that you would add those two words as its changes the statement greatly. The rest of the sentences around this is the same. This may tell us something about a future financing...
    (I'm not sure if its good or bad)

     

    Also, no notice of Dr. Smith. Is he still a liason?
    14 Aug 2014, 07:39 PM Reply Like
  • Rick Krementz
    , contributor
    Comments (2693) | Send Message
     
    Mrholty, I take the additional wording as a strong negative. The first sentence means to me that some current investors (or real investors) have expressed interest. The 2nd sentence to means there might be, somewhere, some investor, that might possibly be interested. Or not, especially if we can't find them.

     

    OTOH, I just may be reading entirely too much into a lawyer's trivial rewrite.
    14 Aug 2014, 07:58 PM Reply Like
  • Amouna
    , contributor
    Comments (1773) | Send Message
     
    RK,

     

    I think given Axion's horrendous track record of late, it is prudent to exert extra caution. What you might read between the lines is generally what is happening with this company.
    14 Aug 2014, 08:09 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    Welcome to the no spin zone?
    14 Aug 2014, 08:12 PM Reply Like
  • Amouna
    , contributor
    Comments (1773) | Send Message
     
    Stefan,

     

    Could also be that DDG's style is "no-nonsense" and he sought to weed out anything vague from the quarterly report about the accomplishments of the company, which tells me that, yes, we were being sold a bag of sand by prior manager TG all along, while paying him nicely for it!
    14 Aug 2014, 08:16 PM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    Rick-

     

    My first take on it was that they continue to use the term investor. I thought that maybe these might be guys who want to buy equity in the company. That could be a positive.

     

    Then I read it the same as you. Negative.

     

    I also find it interesting in that they continue to list them as investors vs (potential customers).

     

    If they really are doing the entire site selection, spec'ing the sizing, etc and they don't have a firm commitment I'll go crazy. I know they don't the money to front this but they could go to a green blog and offer people bond return at 8-12% and gear and lever up. Create a fund and borrow at 3-6%, lever and tell investors 8-12%. There are/were a ton of funds that did this a few years ago in Europe.
    14 Aug 2014, 08:29 PM Reply Like
  • bazooooka
    , contributor
    Comments (3215) | Send Message
     
    RK,

     

    I'd think "sweet spot" isn't good legalese and they chose more formal language, yet with either wording there may be minimal interest in the 1.25 MW. No way for us to really know though.
    14 Aug 2014, 08:36 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    I guess my analogy of the wizard and pulling the curtain back was apt. In February, PbCB showed up and started pulling back the curtain.

     

    It's not really all that surprising, currently Axion is properly valued as a highly speculative stock with a product for FR and a potential solution for part of a large market with ePower.

     

    Seems everything else is spin.
    14 Aug 2014, 08:42 PM Reply Like
  • kevin lemm
    , contributor
    Comments (125) | Send Message
     
    Adding the wording of potential new investors to the previous statement of investors may well be just an improved more accurate representation of the facts. Investors implies the investment has been made. Is it possible nothing has changed in this situation except the wording?
    14 Aug 2014, 09:40 PM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    Kevin-

     

    What fun would that be?

     

    At this point I think the better game would be pick the share price at Dec 31, 2014 and Shares Outstanding. You have account for a reverse split at a TBD ratio and if they can close the financing.
    14 Aug 2014, 09:42 PM Reply Like
  • kevin lemm
    , contributor
    Comments (125) | Send Message
     
    I agree that this is a pretty fluid situation right now, I just think this new wording may not have to be perceived as negative. By the way I think the wording change was a pretty good observation by you.
    14 Aug 2014, 09:53 PM Reply Like
  • Edmund Metcalfe
    , contributor
    Comments (1957) | Send Message
     
    PowerCubes for FR was arguably the main focus for Tom. The investors TG mentioned were always "potential new" investors and not "active current" investors; we all knew that so it's a distinction without a difference for us, so I don't consider this any kind of negative at all.

     

    IMO, it's just reasonable clarification for the benefit of "potential new" shareholders.
    15 Aug 2014, 11:22 AM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    John, What do you consider the legal significance between what Axion speaks about in its PowerPoint Investor Presentation and a formal 10Q document?

     

    The two documents seem to me light years apart.
    14 Aug 2014, 08:33 PM Reply Like
  • Rick Krementz
    , contributor
    Comments (2693) | Send Message
     
    Patience, guys. We will have either more, or less, to fret about with the soon forthcoming letter. I predict the letter may actually have meaningful content this time.

     

    Because if it is totally "content-free", it basically is a death notice.

     

    "This is your captain from the cockpit, don't worry, we see the houses in front of us, and they are moving towards us rapidly."
    14 Aug 2014, 08:40 PM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    Rick-

     

    My problem is how do we know a letter is coming. There may not be one...

     

    I agree with the rest of your statement.
    14 Aug 2014, 08:51 PM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    We don't know whether there will be a letter or how long it might take to polish a final version.

     

    The Form 10-Q is the only regulatory requirement. Anything more is investor relations.

     

    The problem when you try to conduct investor relations while you have a registration statement on file with the SEC is that one mis-step can force you to withdraw the deal.

     

    We all love a little IR, but the decisions are tough when the cost of a screw-up is the equivalent of a death penalty.
    15 Aug 2014, 05:17 AM Reply Like
  • alsobirdman
    , contributor
    Comments (425) | Send Message
     
    Jeez. A few changes in the 10-Q and everybody wants to run for the hills. And do you really think that Maxim would only call one guy out of all the shareholders on this board? And an admittedly small one at that? I would hazard that I am perhaps one of the largest shareholders and I received no such call. Wouldn't you think they would reach out to large holders if they were desperate to find buyers? They could easily find my number if they were looking.

     

    Some of you work so hard to find reasons to worry. Why not try working just as hard to find reasons to be excited about the future? Like ePower, our "unnamed" diesel stop/start partner, NSC, etc.

     

    I may be blind, but stop for a minute and look at everything that has happened recently that is positive. IMO, until I'm proven wrong the positives greatly outweigh the negatives.

     

    Jeez.
    14 Aug 2014, 08:43 PM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    Also - If it's not important enough to address in your 10Q before a potential 50:1 reverse split, how important or material is it?
    14 Aug 2014, 08:48 PM Reply Like
  • topcat1906
    , contributor
    Comments (74) | Send Message
     
    For better or worse, I will be adding to my position.
    14 Aug 2014, 08:54 PM Reply Like
  • 23808
    , contributor
    Comments (87) | Send Message
     
    42
    Please give us the detail on the Maxim cold call so some of us can call Maxim and see whether we can into the deal.
    14 Aug 2014, 09:18 PM Reply Like
  • hschindler
    , contributor
    Comments (25) | Send Message
     
    Back when I was making 300 cold calls per day, I can specifically remember leaving zero messages. Not sure if there is a cold caller at Maxum? with that kind of time, however it seems mighty unlikely
    14 Aug 2014, 09:27 PM Reply Like
  • Rick Krementz
    , contributor
    Comments (2693) | Send Message
     
    I agree, hschindler, that a cold caller would not leave a message. Also, it seems unusual that they have 42's phone number.

     

    I think there is some misunderstanding, miscommunication, or mistake in 42's comment. I look forward to clarification and elucidation of Maxim's call to 42.

     

    Not pointing fingers.; we all (and especially me) make posts that later need extirpation.
    14 Aug 2014, 10:11 PM Reply Like
  • 42itus1
    , contributor
    Comments (232) | Send Message
     
    >alsobirdman, So what do you think it means that this "admittedly small one" got a call and you apparently didn't? Jeez

     

    My last name begins with a T if you think it might be an alphabetic dial-er, or perhaps they wanted to practice on us lesser folk before pursuing the gentry. Jeez

     

    I hide from no one so my number is in "the" book (the call was to a land line) but I don't think "the" book writers know I own AXION shares and I frankly don't brag about my ownership. Contrary to the inference wherein you implied that perhaps I did not receive such a call, I will only say Jeez!

     

    >To add some clarity, I did not receive a voice mail or email from Maxim (previously I misspelled Maxum with a u). My wife took the call and told me of the call, he identified himself as being from Maxim Group (with whom I have never had any affiliation/business with) when she pursued what it related to, she was told he needed to speak to me about my shares in AXION. He then identified himself as Nick Hall @ 212-895-3803

     

    Note: My caller id shows Maxim, 1-212-895-3500

     

    If I do find the inclination/time and find out more I will update the APC.
    14 Aug 2014, 10:21 PM Reply Like
  • 42itus1
    , contributor
    Comments (232) | Send Message
     
    >Rick Krementz, No extirpation needed here for me, I eat lots of fruits and vegetables! Also see my reply to alsobirdman above (or below?).

     

    As to getting my phone number, I have to assume that I am the only poster on the APC that provide my true phone number when signing up for the many live CC broadcasts. (and that number has been good for 34 years)
    14 Aug 2014, 10:35 PM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    No you were not the only one. But I didn't get a call either.
    14 Aug 2014, 10:57 PM Reply Like
  • cstone
    , contributor
    Comments (35) | Send Message
     
    From a press release on the Axion website. Maxim handled a private placement for Axion last year.
    ----

     

    NEW CASTLE, Pa., May 8, 2013 /PRNewswire/ -- Axion Power International, Inc. (OTC QB: AXPW), the developer of advanced lead-carbon PbC® batteries and energy storage systems, announced today that it has completed a private placement of $9 million principal amount of senior convertible notes and warrants with institutional investors and an additional $1 million principal amount of subordinated unsecured convertible notes and warrants in an ancillary transaction with directors, officers and one of the original Axion founders. Maxim Group LLC acted as placement agent.
    14 Aug 2014, 11:01 PM Reply Like
  • D-inv
    , contributor
    Comments (4178) | Send Message
     
    42', others -- possibly the call from Maxim was an unintended consequence of a call I made to Maxim's Investment Banking Group asking about participation in the prospective AXPW offering through them or via a participating broker. A Wealth Management V-P called back, expressed some surprise at my awareness of the prospective offering (nothing signed as yet) and was clearly more interested in acquiring info (my age, where reside, AXPW shares, etc.) than in giving info about the offering. Contacting current AXPW shareholders was mentioned by Maxim.

     

    Maxim could see multiple opportunities in contacting existing shareholders. First, they might find a few new wealth management clients. Second, if the final offering price has tentatively been tied to trading prices shortly before the offering, they could maximize returns to their participating wealth management clients by a reverse "clunker" operation. That is, rather than pulling future auto sales forward to present as the government's "clunker" almost certainly did, Maxim could see opportunity to push current buys into the future by making part of the offering available to interested existing shareholders. Success in doing so would a) likely lower the prevailing market share price setting the offer price a bit lower and b) help place units in the new offering.

     

    FWIW
    15 Aug 2014, 12:40 AM Reply Like
  • hschindler
    , contributor
    Comments (25) | Send Message
     
    >42, Thanks for the clarification. Cold calling might not be the worst idea considering the minimal buying interest and the dime we are sitting on.
    15 Aug 2014, 01:51 AM Reply Like
  • greentongue
    , contributor
    Comments (945) | Send Message
     
    For "minimal buying interest", the shares seem to move well enough. Maybe you meant YOUR minimal buying interest?
    15 Aug 2014, 08:24 AM Reply Like
  • Bill Burtchaell
    , contributor
    Comments (413) | Send Message
     
    300 cold calls a day, that's punishment. You may be the last salesman to do that, or maybe even the first!
    15 Aug 2014, 09:10 AM Reply Like
  • magounsq
    , contributor
    Comments (988) | Send Message
     
    again...ditto...same telephone #
    16 Aug 2014, 12:47 PM Reply Like
  • Ranma
    , contributor
    Comments (1969) | Send Message
     
    When I talked to Nick Hall, he asked how I got his contact. I gave him a first name only, and he knew exactly who it was. So my impression is that he was putting out feelers to gauge shareholder interest, and hadn't made that many calls in total. Again, he said he doesn't feel that finding enough investors would be a problem. Now that could just be what he says, but from the above I don't have a reason to doubt it. But in fact, since I and maybe others have called him, he might have been encouraged to call more shareholders. This isn't a red flag to me, as gauging demand is very important even if you have no shares to sell - you can use that data to price your shares higher.
    16 Aug 2014, 12:58 PM Reply Like
  • Ranma
    , contributor
    Comments (1969) | Send Message
     
    Agree, alsobirdman. The 10Q omissions do not mean that nothing else is going on. It clearly was a boilerplate 10Q. We know this because we know that at least one of the omissions is still very much alive - the NS-999. Most likely the document preparer simply missed that section to cut and paste. The rest of the document was cut and paste from elsewhere as well.

     

    We need to wait for the shareholder letter to get a better idea. In the past, we got most of our information from the CCs, not the 10Qs.

     

    I also did not receive a call.
    14 Aug 2014, 09:15 PM Reply Like
  • greentongue
    , contributor
    Comments (945) | Send Message
     
    The people that have an ulterior motive for driving the price down have not left. The cheaper they can average in, the more they can make. The delays in announcements just make it easier.
    14 Aug 2014, 09:28 PM Reply Like
  • topcat1906
    , contributor
    Comments (74) | Send Message
     
    Greentongue:
    Dollar cost averaging will help to avoid these timing concerns.
    14 Aug 2014, 11:48 PM Reply Like
  • Bylo-
    , contributor
    Comments (420) | Send Message
     
    Remember!
    You should never milk a cow during a lightning storm.

     

    You may get left holding the bag!
    15 Aug 2014, 02:58 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18365) | Send Message
     
    Bylo: Lol!

     

    That's "udder" nonsense, or "udderly" true! :-)) Is there no "udder" option?

     

    HardToLove
    15 Aug 2014, 05:59 AM Reply Like
  • Bill Burtchaell
    , contributor
    Comments (413) | Send Message
     
    profound!
    15 Aug 2014, 09:15 AM Reply Like
  • Bill Burtchaell
    , contributor
    Comments (413) | Send Message
     
    Bylo, that's probably a good policy when castrating bulls as well!
    15 Aug 2014, 09:39 AM Reply Like
  • Bylo-
    , contributor
    Comments (420) | Send Message
     
    Once again, this board is WAAAAYY ahead of me!
    15 Aug 2014, 11:49 AM Reply Like
  • Retired Aviator
    , contributor
    Comments (2157) | Send Message
     
    A bit of math based on the 10Q just filed: the 2013 PIPE deal in the end gave 54.5% of the company away (136.5 million shares) in return for IIRC $8.3 million net. While we've seen the end of shares issued (finally!) the damage is not done as surely the remaining 29.5 million PIPEr shares are in weaker hands that will pressure the market for a while yet, despite the selling limitations.

     

    I'm sorry but I have to gave management an F for the 2013 financing in terms of caring for legacy shareholders, communicating with them, and taking proactive steps that could have ameliorated the hell that this deal wreaked for a mere $8.3 million. And here comes another deal on the horizon with, amazingly, Maxim brokering again.
    15 Aug 2014, 03:54 AM Reply Like
  • Nicu Mihalache
    , contributor
    Comments (1081) | Send Message
     
    This is unfortunately a sad conclusion of that disastrous deal. So, to avoid giving 60% of the company to a partner, probably for much nicer cash, they gave away 54.5% for a few bucks.

     

    On the other hand, that gave the opportunity to adventurous investors to load up the truck, which was probably not an option in the 60% case.

     

    But this is the past and we can only hope the lesson was leaned. And the only question that matters is: given all we know, do you think Axion is worth more or less than $25M right now?
    15 Aug 2014, 04:31 AM Reply Like
  • LT
    , contributor
    Comments (5382) | Send Message
     
    42, mrholty, Amouna, and all others....I'm not surprised that Maxim called. After some VP actually took a call from another axionists (don't remember who) and was surprised we knew about the offering...I would think it logical to follow up and see if there's anything worth pursuing here. You can bet someone at Maxim knows current shareholders bought a ton of the last placement.
    I view this neither positive or negative....but slightly more positive as at least they are responsive to AXPW questions & potential.

     

    IMO, the changes to the wording is neutral. DDG is just cleaning up TG's mess. TG stated that most of AXPW's work with NS was done and the delays were related to something else. To me this just confirms it. The batteries are what they are and have changed little. it's the BMS and other parts that have to play together nicely now to avoid another repeat of a meltdown. Which I don't expect to occur. IMO, the 999 has been tested in that shed. Probably has moved on its own too. Not much but enough to know it works.

     

    The layoffs reflect less sales on the toll contract, I expect this is just confirmation of what we've already been told. It does decrease revenues, but also lowers expenses with 30 less employees.

     

    Finally, the change in language to "new investors" IMO is just confirmation that any meaningful sales will go to some form of FR for solar or grid. So it makes sense to spend most of their efforts looking for new markets there and new investors especially in light of California etc.

     

    I looking at the latest form now....more later
    15 Aug 2014, 04:10 AM Reply Like
  • RBrun357
    , contributor
    Comments (791) | Send Message
     
    After speaking with DDG a few times I believe that we will be seeing a new approach in regards to how information is provided. I believe that TG was overly optimistic and mislead us with his expectations of significant orders and such. My opinion is that DDG does not plan on leading us along by feeding us cleverly worded unfinished sentences like TG did and then allow us to fantasize about the true meaning.

     

    DDG will provide information when it has been validated. With the RS and funding approaching Axion's story will be reset and a new beginning will be initiated. I think DDG will be interacting with us in a similar fashion of a newly developed and launched company with little or no traction. I don't believe he is going to speak about any potential business such as NS or auto and his restatement of the potential new investors seems to support my beliefs. I believe he plans to reduce our current expectations back to the order of a new start up company and then if/when those significant orders do arrive we will here about them after the ink is dry!

     

    Just my opinion

     

    RBrun357
    15 Aug 2014, 07:09 AM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    "After speaking with DDG a few times I believe that we will be seeing a new approach in regards to how information is provided."

     

    I just belly laughed. Maybe they should provide the last four years of internal emails and their D&O policies.
    15 Aug 2014, 09:33 AM Reply Like
  • LT
    , contributor
    Comments (5382) | Send Message
     
    Outstanding Shares at August 8, 2014 - 250,889,608
    a bit higher than I expected.

     

    $1.9 M in cash is also a bit more than expected.

     

    Inventory up $500,000 - wonder why ?

     

    Net loss for 6 months of over $8 million, why this huge increase ?

     

    I don't see anything else in the numbers...does anyone else?
    15 Aug 2014, 04:20 AM Reply Like
  • LT
    , contributor
    Comments (5382) | Send Message
     
    While we improved our methodologies for manufacturing carbon electrode assemblies for our energy storage devices in commercial quantities, there is no assurance that we will be able to successfully manufacture our product in larger commercial quantities on an ongoing basis.

     

    We do not carry environmental impairment insurance

     

    New technology may lead to our competitors developing superior products which would reduce demand for our products. (they specifically mention other Carbon related and carbon nanotube tech)

     

    • rumors or dissemination of false or misleading information, particularly through Internet chat rooms, instant messaging, and other rapid-dissemination methods;
    15 Aug 2014, 04:53 AM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    • rumors or dissemination of false or misleading information, particularly through Internet chat rooms, instant messaging, and other rapid-dissemination methods;

     

    That is a very interesting bullet point.
    15 Aug 2014, 09:35 AM Reply Like
  • blauschuh
    , contributor
    Comments (263) | Send Message
     
    appears to be standard boilerplate... that exact phrase pops up multiple times in a google search wrt other public companies.
    15 Aug 2014, 11:17 AM Reply Like
  • LT
    , contributor
    Comments (5382) | Send Message
     
    IMO, DDG has cleaned up the books ahead of the new financing, removed TG's hype & false hope giving investors a clear view of the risks and probably where revenue will come from over the next year.

     

    We don't have the "kool-aid" that many here want, but overall he's done a good job cleaning things up in one swoop.

     

    I'm neither negative or positive, it won't take many PC's to offset the loss of revenue. So now things are cleaned up and we will see if DDG can execute a slightly different business plan & focus.

     

    The only one thing that gives me a tiny spark of hope is that if they do get the NASD uplist....I don't think the NASD would take them if they didn't have something on the horizon to justify it.
    The only negative being that competitors might bring on new tech faster and/or build competitive products.
    15 Aug 2014, 05:09 AM Reply Like
  • abcd9876
    , contributor
    Comments (69) | Send Message
     
    LT - Completely agree. It seems DDG is resetting things along with strictly observing quiet period. 10-Q and the 'press release' accompanying 10-Q couldn't be any shorter - seems written with explicit intent of reducing expectations to bare minimum. I am a big fan of 'Under-promise, Over-deliver' and seems DDG is doing same. So positive in that regard, but on the other end, this might trigger further weakness in stock price. We need this S-1 to be approved asap to limit the damage - keeping fingers crossed.
    15 Aug 2014, 09:29 AM Reply Like
  • nummik
    , contributor
    Comments (69) | Send Message
     
    doubled the share count and the loss in six months ... thumbs up, I am sure ;)
    15 Aug 2014, 05:51 AM Reply Like
  • LT
    , contributor
    Comments (5382) | Send Message
     
    This is directly related to AXPW & the PC work with PJM & Viridity. Take note of who the players are:

     

    Traders Lured to Bet on Power Overloads Worth Billions
    http://bloom.bg/1ozWgDQ
    15 Aug 2014, 06:33 AM Reply Like
  • greentongue
    , contributor
    Comments (945) | Send Message
     
    This is another dot to connect from what we have heard about the interest in PowerCubes and the FR market.
    The "Big Boys" can finance Axion from rounding errors.
    15 Aug 2014, 08:45 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18365) | Send Message
     
    GT: But this is not the game they seem interested in? They're making tones on placing bets on congestion and alternate routings, not on capex expenditures to relieve the congestion.

     

    Those squids are not interested in doing anything beneficial for the economy directly, just in siphoning off $s from the problems that exist.

     

    If they were to invest in resolving the problems they would be cutting their profits from trading against existing problems. The longer the problems go unresolved ...

     

    Note they got themselves exempted from the restrictions in the Dodd-Frank bill. They intend to remain to rich too fail.

     

    MHO,
    HardToLove
    15 Aug 2014, 08:59 AM Reply Like
  • greentongue
    , contributor
    Comments (945) | Send Message
     
    Nothing says they can't play both sides. If there is money to be made, someone will do it.
    15 Aug 2014, 05:10 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18365) | Send Message
     
    GT: "someone will do it"

     

    I agree, but I think it will be smaller more nimble players that are not so closely tied to the Fed and the political system.

     

    MHO,
    HardToLove
    15 Aug 2014, 05:37 PM Reply Like
  • Amouna
    , contributor
    Comments (1773) | Send Message
     
    Does being pollyannish and not delivering constitute a breach of your fiduciary duty towards your shareholders' capital ? JP this question is for you...

     

    Otherwise I agree with many here that going forward we will be served the cold hard truth hopefully every time, instead of the embellished reality one wants to see. Shame it didn't happen much sooner...
    15 Aug 2014, 07:25 AM Reply Like
  • blauschuh
    , contributor
    Comments (263) | Send Message
     
    x2... I would have preferred being told the truth rather than some rubbish BS about "preparing for a very steep climb in our top line".
    15 Aug 2014, 11:29 AM Reply Like
  • Noahfreak
    , contributor
    Comments (41) | Send Message
     
    Agreed. Someone who's high crashes a lot harder than the guy who's just tired from a long day's work. When both wake up the next morning, one is refreshed and rejuvenated ready for the day ahead while the other feels like warmed over death but still must pick up the broken pieces. Long term benefits over short term gains, so to speak.
    15 Aug 2014, 03:49 PM Reply Like
  • axion-nl
    , contributor
    Comments (181) | Send Message
     
    no letter yet....maybe during the day...
    15 Aug 2014, 08:21 AM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    Or maybe no letter at all.
    15 Aug 2014, 09:27 AM Reply Like
  • axion-nl
    , contributor
    Comments (181) | Send Message
     
    wow 300.000 bid
    15 Aug 2014, 09:30 AM Reply Like
  • Ranma
    , contributor
    Comments (1969) | Send Message
     
    Not what I expected from reading the Concentrator last night. Clearly we missed something from the report.
    15 Aug 2014, 09:31 AM Reply Like
  • Ranma
    , contributor
    Comments (1969) | Send Message
     
    It's a real bid...50k just bought.
    15 Aug 2014, 09:38 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18365) | Send Message
     
    Sellers are delighted! Down to 10K left.

     

    And now ARCA shows on the ask. Expect price deterioration now.

     

    HardToLove
    15 Aug 2014, 09:48 AM Reply Like
  • Josh Greene
    , contributor
    Comments (78) | Send Message
     
    I find that a really interesting bid -- literally, no reason to bid that high unless you wanted to get filled right away - 300K at .10 probably would have cleared. I would assume it's somehow tied into a financing play, or that article on the energy traders certainly seems compelling.
    15 Aug 2014, 09:48 AM Reply Like
  • Ranma
    , contributor
    Comments (1969) | Send Message
     
    Did anyone see which MM was the bidder?
    15 Aug 2014, 09:50 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18365) | Send Message
     
    Ranma: CDEL

     

    HardToLove
    15 Aug 2014, 09:58 AM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    The first 50k sales was mine. It was for a flipped trade. I had bought 50k last week at $.097. I wish I could take a 10% return weekly.

     

    Sadly the shares I still own are down by a whole lot more. A lot more.

     

    Long Shareholder since 2011.
    15 Aug 2014, 10:00 AM Reply Like
  • Ranma
    , contributor
    Comments (1969) | Send Message
     
    Looks like you started the snowball.
    15 Aug 2014, 10:02 AM Reply Like
  • Nicu Mihalache
    , contributor
    Comments (1081) | Send Message
     
    mrholty, this smells like PIPEr behavior at the worst possible time. Not judging, but I wouldn't be so proud and cocky about it ;)
    15 Aug 2014, 10:11 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Why Mr. Holty, you bad boy! You should have waited for the winged ponies. Or...

     

    http://bit.ly/1oAsgI7
    15 Aug 2014, 10:12 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Nicu, yeah yeah, he might also have been no of those bad trader guys that bought low during the last cycle and cooled off the momentum during the sector run. For SHAME. Not judging though. ;)

     

    Ahh, life in the concentrators while we wait for the train to move. Pride be damned.
    15 Aug 2014, 10:26 AM Reply Like
  • Nicu Mihalache
    , contributor
    Comments (1081) | Send Message
     
    No intention to start a fight with a puppy.

     

    PIPE behavior is to blindly flip for a small profit regardless of context. I would have loved PIPErs to consistently hold for at least 100% profit.

     

    And if you had put 5 minutes to look up the S-1, one of those days will decide the amount of dilution that will be set in stone, as opposed to the share price which will continue to wiggle around wildly.
    15 Aug 2014, 10:47 AM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    Don't blame me. I took advantage of what seems like a poorly priced bid. I could be extremely wrong with this. Its happened before.

     

    Last week I was excited about the need for capital investment and requested need for additional working capital. Its what I've been waiting for during the last 3 capital raises. As John likes to say you don't commit $ to add those items without a purchase order in hand.

     

    The problem was after seeing the 10Q I have no idea what those will be for. Our current facilities are underutilized today and that is before our tolling contract winds down. We have estimates that our facility could pump our 33k-100k batteries annually. Using that lower amount that would mean $11.5k in revenue. That would be fantastic and our stock would be repriced. Our current facility is appropriate for any future ePower and Powercube orders. We have no news on any island project(s) and even then I believe that like any other storage project it will be lumpy, if at all and probably have plenty of lead time.
    Yesterdays report that Iindy posted made more upbeat about NS as it explains what they were doing in 2013 as it looked like they were twiddling their thumbs. That is positive but even still - rollout will be gradual.

     

    This means two things could be left. Automotive and non ePower trucking. Neither of which are mentioned in the filing. AT ALL. No generic refenences such as work is ongoing with regards to something like "Tier 1 Automotive suppliers and OEM in various stages of testing"

     

    The 10Q was a damp blanket on my enthusiasm.
    Without it I don't feel comfortable putting money there and I'm not alone. Sure its not fair to blame DDG for TGs past mistakes but AXPW is not a one man show. For TG to be getting such bad information multiple times had to frustrating for him and shows a problem within. I don't think TG was a fool.

     

    I have no problem with not having a CC. Notice Walmart did theirs with a published recording. DDG has one chance to make an first impression with private shareholders and legacy owners who have carried the company too long. Even a letter stating that they are focused on the utility markets in the short term while continuing to still work to catch a whale in the transportation markets would be welcome by this investor. Appologize for overly optimistic forecasts in the past if you are not comfortable but give us something. We knew they were optomostic as they published open POs like one would publish actuals sales.

     

    This blog may be a bad thing as it gave AXPW mgmt. the thought that they didn't need to communicate or if they followed this that its a huge time sink. Both are true. I've never liked John's battered spouse = AXPW shareholders but it may apply here. Maybe I'm the battered spouse who has known for a while that he has wrongly believed in his head that its going to get better and it doesn't and eventually they get the strength and move out when he's gone at work.
    15 Aug 2014, 11:03 AM Reply Like
  • Nicu Mihalache
    , contributor
    Comments (1081) | Send Message
     
    No need for excuses for selling. Everyone has his own reasons and constrains. And I have even specified that explicitly in my first comment on this ("not judging"). But I would hate to have a rotten egg throwing contest "who's selling lower" at this particular time.

     

    What I wanted to underline for the last few days, is somewhat like a poker move. Most of the time, it is a bad idea to raise you bid if it's already the highest. But we are living the exception to the rule. Small differences in trading for another couple of weeks will make a real difference in the long term. It has consequences w.r.t. the vast amount of money, time and effort invested over the years, not to mention the risk and pain taken.

     

    We have the power and the leverage given by the S-1. If we do not use it even now when the cards lay bare on the table, we do not deserve better.
    15 Aug 2014, 11:17 AM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    The under-utilized facility is most likely the battery plant and if I had to bet, I'd allocate the planned capital spending to the electrode assembly plant.

     

    The battery plant has a permitted capacity of 3,000 units a day and has never come close to full utilization. The electrode facility, on the other hand, has lots of carbon sheeting capacity but probably not enough electrode assembly fabrication.
    15 Aug 2014, 11:23 AM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    No problem. My point is to each his own. It's what makes for a healthy market.

     

    As for allowing the fox to set issuance price based on one days closing price in what is often an illiquid asset. Well, you tell me if that makes sense. IMO, another Axion dumb move to add to the list. Cuz the markets always right so in that instant we can be assured of the assets true value. Yeah right.
    15 Aug 2014, 11:25 AM Reply Like
  • D-inv
    , contributor
    Comments (4178) | Send Message
     
    "As for allowing the fox to set issuance price based on one days closing price in what is often an illiquid asset. Well, you tell me if that makes sense."

     

    Something like an average over a period of time would be more likely. Given SEC regulated "quiet period" was a known requirement beforehand, one hopes any price averaging period included a healthy segment of pre-filing period. Otherwise, the offering price arrangement will/would suggest nothing was learned from (or no awareness of) the 2012 capital raise which included a known probable down-price period (end-year tax selling).
    15 Aug 2014, 12:56 PM Reply Like
  • Ranma
    , contributor
    Comments (1969) | Send Message
     
    Are we wrong in assuming the determination date is in the future, not in the past?

     

    Tesla also raised money based on the closing price of its stock.
    15 Aug 2014, 01:19 PM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    Ranma, Tesla is not in the same league as Axion. It has sponsors and is not being forced to raise funds in the bowels of the beast. It's a whole different world when you're dealing with Payday lenders. Our last dancing partners should still be fresh in our minds and hopefully the minds of our new CEO and our CFO recore. I sure hope they are not sadomasochists.
    15 Aug 2014, 01:48 PM Reply Like
  • Retired Aviator
    , contributor
    Comments (2157) | Send Message
     
    iindy> You're quite the gentleman in your use of "dancing partners" to refer to those who've sodomized us.
    15 Aug 2014, 01:59 PM Reply Like
  • 481086
    , contributor
    Comments (3442) | Send Message
     
    Beware the Eye of the Piper...
    15 Aug 2014, 02:16 PM Reply Like
  • iindelco
    , contributor
    Comments (10047) | Send Message
     
    RA, I have the aft sensations to remind me of the experience and don't need the words to help me better reflect on the experience. Not that I have the literary skill set to do it justice.
    15 Aug 2014, 02:21 PM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    John-

     

    IIRC the majority of the equipment in the battery plant is for AGM batteries and the rest is traditional LA. The drop in portion of the electrodes requires a AGM type facitlity so if we were running only PbC we couldn't run 3k batteries/day with current equipment.

     

    I agree that the bigger bottleneck is probably around the electrode side. The question is what does $2M buy and what is the lead time?

     

    I'm sitting here and thinking if I was a board member what would I do. If the capacity is for electrode assembly due to a transporation order/production I think I'd direct the company to borrow the money from a bank.

     

    If the expansion is for the PowerCube business I'd be hesistant to approve it as talk of PowerCube sales have been in the pipe for a year know. Yeah I know this time may be different but I think you need to build the first one first.

     

    I struggle with the idea of issuing 45M shares (using $.10/share) if as your shares are undervalued as we think. Borrow $10M and use a chunk as you will have the capital upfront to build some powercubes. Announce the sale/installation and follow up order and the share price will be higher. Then issue shares for the capital expansion.

     

    Last year we as a group assumed that the PIPE was ok and the shares wouldn't crater as TG wouldn't have signed a deal without a kicker in his pocket. That kicker never came.

     

    If we use the estimate that our PbC capacity is 33k/annually (from an estimate by PbC Yoda) that means we can build 450 batteries in a week. IIRC there was 500 batteries in the 500 kw battery order so we can build a 1.25MW order in just over a couple of weeks. My guess is you can have the batteries done by the time you are assembling the control electronics.

     

    15 Aug 2014, 02:55 PM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    It's hard to explain the delicate detail, but the transition from putting together unregistered deals with any broker dealer who's willing to pimp you out for a commission and having a broker dealer put on his underwriter tux, pin on his boutonniere and take you to a debutant ball, even a small one, is very important. It usually marks the point in a corporation's evolution where the underwriters start courting you as a client and your choices only get better with the passage of time.

     

    Everybody goes through the same drill. You beg and plead for attention wherever you can find it. Then you find a BD who's willing to put together an unregistered deal if you're willing to give his clients a solid enough opportunity. After the debutant ball everybody in the financial world treats you a little differently and with a lot more respect, at least until you prove you don't deserve their respect.

     

    This is Axions first bona fide public offering, a sale of common stock and warrants by a reputable mid-tier firm that's acting as an underwriter rather than a placement agent. I'm happy as a clam at high tide.
    15 Aug 2014, 03:01 PM Reply Like
  • mrholty
    , contributor
    Comments (1084) | Send Message
     
    John-

     

    What would cause the change in broker/dealers perpective in a year?

     

    By almost all accounts the past 12 months were disappointing to outsiders. What information can mgmt. provide to the broker dealer. And what can the broker dealer provide to prospective guys who want to sign up.

     

    Lets say that DDG has a pending order based on X conditions (improvements to electrode facility, etc, etc). Can AXPW and will they provide that to the broker dealer? Will that broker dealer disclose that to people when they are trying to place the security?

     

    Wouldn't that be a violation of Regulation FD?
    15 Aug 2014, 03:44 PM Reply Like
  • axion-nl
    , contributor
    Comments (181) | Send Message
     
    I emailed Axion regarding the shareholder letter, they need to come out with more info. I'll try calling them also
    15 Aug 2014, 09:51 AM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    The Form 10-Q includes all of the information required by SEC regulations. Conference calls and shareholders letters are optional investor relations activities.

     

    The big risk with conducting investor relations activities while you have a registration statement pending is that an IR slip-up could require withdrawal of the registration statement followed by a 30 to 90 day stand-down period.

     

    When you don't have enough cash to carry you through a potential stand-down period, you can't possibly afford the risk of an IR mistake that would jeopardize the financing.
    15 Aug 2014, 10:03 AM Reply Like
  • axion-nl
    , contributor
    Comments (181) | Send Message
     
    okay, didn't know that!
    15 Aug 2014, 10:10 AM Reply Like
  • John Petersen
    , contributor
    Comments (30331) | Send Message
     
    These are the times that scare management teams and their lawyers more than any others. You want to get your financing put to bed and you don't want anything bad to happen before the closing date.

     

    My very first IPO as stand-alone issuer's counsel cleared the SEC in the first week of October '87. The underwriters had indications for 200% of the raise but the client wanted to make sure the stock would trade up so it decided to spend two more weeks on the road show. Between the "you're good to go" message from the SEC and the planned effective date we had a market crash. The client and the underwriter both went bankrupt and the lawyer wrote off a huge receivable.

     

    It was my first monster lesson in the school of hard knocks, and not my last by any means.
    15 Aug 2014, 10:19 AM Reply Like
  • Bob Averill
    , contributor
    Comments (268) | Send Message
     
    John,

     

    What if anything do you glean from the following sentence in the Q under MD&A, Results of Operations; "In a separate initiative with potential new investors, we continue to pursue site selection for multi mega-watt systems that would service the frequency regulation market." The phrase "potential new investors" is what caught my eye.

     

    I would be pleased beyond description if this present round of funding were to be coming from new investors who are also the sellers/integrators of multi mega-watt systems. That would be a dream come true for me.

     

    PS - I am personally very pleased that management seems focused on the PC projects, both large and small, that have a greater possibility of bringing in immediate orders and I am not bothered in the least that this Q makes no mention of older projects that have been slow moving and apparently remain as such.
    15 Aug 2014, 11:02 AM Reply Like
  • Stefan Moroney
    , contributor
    Comments (2661) | Send Message
     
    BA - Do you believe Axion to be appropriately priced now as a speculative FR play?

     

    I also like to see the focus on what is really happening, but still have reservations given the seemingly unfettered rein that TG had over the years.
    15 Aug 2014, 11:07 AM Reply Like