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mrholty

mrholty
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  • Axion Power Concentrator 363 Sep. 07 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    John-

    Thanks for your comment.

    BTW, best of luck this week. We're all pulling for you guys to make quite a splash.
    Sep 15 05:46 PM | 9 Likes Like |Link to Comment
  • Axion Power Concentrator 365 Sep. 15 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    A payment will be this week to holders from last month. The stock has already reacted to the e-dividend back then. Stock dropped $1.05 on a dividend of $1.15.
    Sep 15 04:25 PM | 2 Likes Like |Link to Comment
  • Axion Power Concentrator 365 Sep. 15 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    Where do you see that? I cannot find which you quoted. Which page?

    On page F-7:
    These consolidated financial statements of Axion Power International, Inc., a Delaware corporation (API),

    That says Delaware.
    Sep 15 04:03 PM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 365 Sep. 15 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    Some of my favorites have gotten hit over the last week. I doubled down on more AWLCF today. Its been getting hit for a while on concerns that the founder sold 2M shares at a discount to market a few weeks ago and some concerns that they will not be able to keep up the large dividend payment.

    My thoughts are simple:

    I think they can pay the dividend for another year before their ships go and I have a current yield of 25%. I'll take it.
    Sep 15 03:26 PM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 365 Sep. 15 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    Its an interesting question. On one hand the amount that will go operations/mgmt. etc is less than any of the past few years so I'm somewhat conflicted.

    In the revised income statements from the last few quarters when they changed up how they calculated the COGS. Previously they had shown a small gross profit that covered the cost of battery operations in the mid single digits IIRC ~7%. (I don't have my workbook with me). Now with the updates the COGS is at 99% before even accounting for Idle costs leaving a negative gross margin. My guess is that the new way accounts for supervision, HR, etc of the day to day staff where it wasn't before. If this is true and we lose the East Penn tolling contract that may be a saving of $1.5M annually vs today which could account for the need of less of a raise.
    However, these staff would appear to be of a need as you should hope to have a plan in place to hopefully make electrodes or electrode + batteries depending on the end use. If that is the case and you are just becoming a virtual company than you could fund those new positions but then you'd be assuming no operational need on the horizon. I don't see how that is a positive nor do I see it as likely.

    I wonder if DDG is hoping that this raise isn't the only one this year. One could raise 6-9 months of cash if you had a good certainty of an ability to announce sales in the near future. Then with a presumed stock increase you could get funding for a bigger chunk at a better price as I don't think a $1M capital investment + $2M in working capital gets you to enough volume to be self sufficient. I hope I am wrong.

    Overall, I like the move either way. Try to minimize the need for cash until the SP is higher (hopefully) where you can fund at a higher rate. If it doesn't does it matter if he does it again in 9 months vs 12 months? I don't think so.
    If the capital and Working cap was gone I would actually be selling all of my stock today.
    Sep 15 03:21 PM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 365 Sep. 15 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    My last comment.

    Hallelujuah. I can actually read this document, it looks to be current and acklnowledges shortcomings and plans to fix them.

    Good. Good for them. My favorite sentences.

    Historically, we have actively participated in related industry networking and trade groups. With the new story we have to tell, we plan to increase that activity on a prospective basis. With our new initiatives, we plan to develop leads from purchasing appropriate databases and potential new customer lists. For example, we subscribe to a solar installer database and uses that data base to directly market to various installers. We also plan to increase our attendance and participation in various regional and national trade shows.
    Sep 15 01:33 PM | 10 Likes Like |Link to Comment
  • Axion Power Concentrator 365 Sep. 15 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    This filing confirms what I heard previously.
    The Bisolar project is still not online.

    Page labeled 25.
    Subsequently, in the first quarter of 2014, as part of our growing relationship with the New Jersey integrator of our PowerCube, we visited the solar project site to inspect the progress made to date. Although the solar portion of the project has been slowed by weather conditions, the racking system and the PbC batteries have been installed in their permanent location and all related wiring has been completed. We expect the solar panel work and the bi-directional inverter hook up to be completed, in the third quarter of 2014, and then we will qualify for the Reg. D signal.
    Sep 15 01:25 PM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 365 Sep. 15 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    There is nothing here like the Pipers to drop the price. Infact the warrants align with current shareholders/mgmt.

    Most interesting thing to me is if the warrants will trade publicly. I bet they don't.

    Al remember if the warrants do convert that is effectively a doubling of the share count.
    Sep 15 01:23 PM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 365 Sep. 15 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    Al. I agree its not a bad deal. If I was able to financially I'd be in but I cannot. If the deal goes off at $4.50 for the common which is what the amount states but the warrants are for free its a fair deal for all involved.

    Maxim made a little more than I expected. I expected it to come down from 10% not increase. That is probably why they had no problem calling people.
    Sep 15 01:17 PM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 365 Sep. 15 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    Yes. Its only a raise of $12M. $3M was pulled out.

    Total to Axion is now $10.7M($12M) down from $13.5($15M).

    Fees were 10% before, now are 10.5%. Reduced by $240k (should been $300k)

    Capital is down by $1M to $1M from $2M earlier.
    Working Cap is down by $500k to $2M from $2.5M earlier
    Business Development is down by $500k to $1M from $1.5M
    Operations is down $750k to $5.7M from $6.5M.

    I'm not taking part in this raise so I'm watching. Will the warrants trade after issuance?
    Sep 15 01:14 PM | 5 Likes Like |Link to Comment
  • Axion Power Concentrator 365 Sep. 15 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    Question for the really smart among us.

    When I spoke with the fleet operators of the BAE/Cummins Hybrid-E that just announced with start-stop and he confirmed that is used Li batteries.

    If a bus was used to run start/stop, quiet acceleration, depot mode on 100% batteries how many batteries would be needed and what sort of weight penalty would that be on a bus. If ePower needs 56 batteries would a bus need 10 or 30 or 50?

    A car battery weights what? 40 lbs? Is a PbC 30 lbs? 30 x 30 = 900 pounds. I've read that busses weight 25-40k pounds so if we use 30k lbs as the regular weight of the bus we are looking at a 3% weight penalty. That isn't too bad. Thoughts. Should we be looking at it this way?
    Sep 15 11:58 AM | 6 Likes Like |Link to Comment
  • Axion Power Concentrator 364 Sep. 11 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    Iindy-

    I've posted on this before. In APC 357.
    http://seekingalpha.co...

    Here is a copy of the summary funding document.
    http://bit.ly/1AeczJ9

    I filed the British equivalent of a FOIA request about a month ago and received word last Thursday that they would not release any details of the project due to Cummins expecting to take this to market.

    Based on some other calls I made on this thing I can tell you that this is sold without a battery system and is currently available as a prototype if one wanted to buy one. Its not in commercial production and no date has been set.
    Sep 15 11:42 AM | 4 Likes Like |Link to Comment
  • Axion Power Concentrator 364 Sep. 11 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    China and Russia have been looking to get a second currency as normal for trading within OPEC as a hedge from the Petrodollars.
    Sep 12 04:16 PM | 2 Likes Like |Link to Comment
  • Axion Power Concentrator 364 Sep. 11 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    John is correct. Xtreme did give up on manufacturing batteries and the wind farm switched to a Li battery solution for their storage.

    Even though the battery chemistries are different some biases persist. Its why I hope we focus on supercabattery instead of advanced lead acid.
    Sep 12 09:38 AM | 5 Likes Like |Link to Comment
  • Axion Power Concentrator 364 Sep. 11 '14: BOD Approves 50:1 Rev. Split; EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance [View instapost]
    Thanks Bazoooka. I didn't know that.
    Sep 11 04:44 PM | 1 Like Like |Link to Comment
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