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John is a lawyer and accountant with over three decades of corporate finance, due diligence, M&A advisory and related legal services for manufacturers, innovators and investors in the energy storage and renewable energy sectors. Over the last eight years John has earned a global following for... More
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  • Why I'm an EEstor Skeptic 6 comments
    Aug 5, 2009 6:18 AM | about stocks: ZNNMF

    EEStor worries me because the only entity that ever talks about them is Zenn Motors (OTCPK:ZNNMF), a Toronto company that is blatantly promoting its ownership of a minority interest in EEstor interest to maintain a $170 million market capitalization that its business fundamentals could never justify. The lawyer in me considers the whole smarmy process public relations through hearsay.

    It's not at all encouraging that EEstor has allegedly been making performance claims that approach the maximum theoretical limits of both physics and chemistry. While extraordinary results can frequently be obtained in a laboratory staffed by PhD with unlimited time and budgets, they are not possible from a factory owned by a company with no manufacturing expertise and staffed by guys in gimme caps

    I also find the idea that EEstor will go from a first generation prototype at the end of this year to a commercial product next year completely ignores the complexity of taking a phenomenon from the laboratory and turning it into a manufactured product. EEstor apparently needs material purities measured in single digit parts per million. That is $6,000 toilet seat country, not mass produced $100 per kWh energy storage devices. On balance I would be amazed if EEstor had a product sometime in the next decade.

    My career is littered with companies that did wonderful things in the laboratory but could never turn the amazing science into a commercial product. As a case in point, I offer Applied Nanotech Holdings (APNT.OB). I was counsel for their IPO in 1992 and the stock had a pretty good run in its early days. To date the company has never generated a penny of revenue that didn't come from contract R&D.

    Until I see a lot more hard data coming directly from EEstor supported by credible third party confirmation, I'll continue to believe that EEstor is just another Texas R&D company that's "all hat and no cattle."

    Stocks: ZNNMF
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Comments (6)
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  • 7857asdf
    , contributor
    Comment (1) | Send Message
    While I agree that EEStor is still very much a speculative buy, I completely disagree on your facts (at least based on statements made by ZENN and EEStor).


    1. They built prototypes, potentially as long as 12 years ago. Certainly when they filed the EESU patent, which I believe was in 2007.


    2. They have stated that the funding they received from KPCB was entirely to build a production line. The delays have presumably been because they are working out problems associated with moving from a lab to a production line.


    3. All of their milestones they have met have been certified off the production line, not from the lab. The purity has been met, the permittivity has been met, what is left is to provide energy density and pre-production units that are capable of handling the voltages specified, and maintaining their permittivity at those voltages.


    Get your facts straight before you report on something like this.


    6 Aug 2009, 10:05 AM Reply Like
  • Tim Bitts
    , contributor
    Comment (1) | Send Message
    The truth is agnostic. Anyone who says, "for sure, Eestor is b.s", is just an idiot, because he has no evidence. So, no one knows, for sure, if eestor is bs. Conversely, no one knows that Eestor will actually work out. No one. Anyone who says they know for sure this will work out, is an idiot, because they have no proof. So strong opinions either way, are a fools game. As Paul Simon sang, "proof is the bottom line for everyone". We'll have to wait till we die to find out (or not) if there is/isn't a God. Same with Eestor.


    Mr. Weir has set himself a deadline of next year for commercialization and public evidence that his battery will work. I have an audio copy of his interview, and I heard him make that promise, with my own ears. If he fails to deliver in that time period, chances are very good that he is a fraud. Mr. Weir is either a hero, or a zero. There is no middle ground. My opinion? Personally, I don't have a clue, if Eestor is for real, or not. We will all know soon enough.
    6 Aug 2009, 10:37 PM Reply Like
  • Michael D.
    , contributor
    Comments (173) | Send Message
    John, I gather by now you've been passed the EEstor conference call, more info here:



    Agree with Tim, we don't know if this is the real thing or not. It might just be an R&D black hole. But 1 in 10 earns 100, so investors like me continually roll the dice. If we believe in the new economy and green technology, we've got to do this.
    8 Aug 2009, 08:42 PM Reply Like
  • Brendan Baghead
    , contributor
    Comments (14) | Send Message


    1) Dick Weir or you have no proof EEStor has built prototypes which meet their patent claims from any reputable 3rd party.


    2)Dick Weir end of last year, 08, admitted to EEStor ran out of funds causing a delay.
    This was after KPCB investment.


    3)The last milestone, delivery of a product, has not been met in over 5 years.
    Dick Weir stated in 2004 EESTor was ready to accept purcahase orders from major June 2009 Dick Weir audio interview he stated production line is 85% complete. Was Dick Weir lying in 2004 or is he lying in the recent interview? How could a production line not be completed in over 5 years, at best stuck at 85% complete?
    "A number of major companies have said they would issue a purchase order quickly if specs are met.
    The company is currently seeking equity investment of $3.5 million. A business plan is available.
    Contact Richard D. Weir, President and CEO
    EEStor, Inc. Cedar Park, TX
    Those "major companies" could not be happy with Dick Weir/EEstor waiting over 5 years for an EESU.
    12 Aug 2009, 05:04 AM Reply Like
  • teuster
    , contributor
    Comment (1) | Send Message
    Eestor does not pay invoices nor answers their phone. Does this signal problems at Eestor?
    13 Jul 2010, 06:49 PM Reply Like
  • Tom Hagan
    , contributor
    Comment (1) | Send Message
    "If Dick Weir fails, he's a fraud" is a notion that sticks in my craw. You can bet these guys are busting their butts to make good a game-changing new technology that will transform our economy - if they can make it work.


    Will they succeed? No one knows, including them. Are there many reasons they may fail? Yes. Are they short of money? Of course. The deadline Weir cites can only mean he knows that available funds will run out soon. Are they crazy? Yes, in the same sense that Edison, Ford and the Wright brothers were crazy. Like EEstor, they all undertook to inflict innovation on a resistant world - a crazy thing to do. We know their names only because after arduous trials they succeeded in making something new, something they knew would have important consequences - if it worked. Before they achieved success I am sure they were subjected to the same dumb barbs from know-it-all "skeptics" that are thrown daily at the EEstor folks.


    It's just plain disgusting to see the posturing and preening of those who weigh in with their "opinion" that EEstor will never deliver a product, or that the whole enterprise is a scam. I'm rooting for EEstor, not because their success will give the naysayers the kick in the teeth they deserve, but because their success will have dramatically positive consequences for us all. And succeed or fail, I am grateful to them for making what I am sure is a Herculean effort to accomplish the nearly impossible. Either way, they are heroes, not zeroes. But it sure would be great if the thing works!


    Tom Hagan


    15 Jul 2010, 02:22 AM Reply Like
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