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Rick Krementz

Rick Krementz
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  • Axion Power Concentrator 400: June 22, 2015 [View instapost]
    virutal - Shareholders can vote two ways: sell the stock, or vote for a new Board of Directors. Shareholders cannot "vote" on management (CEO, CFO, et al.)

    Nobody ran against the board last month, and they were all re-elected with substantial majorities. From their point of view, they are doing great which was demonstrated by their re-election, and will continue to be compensated in cash. Since management and the board have essentially no shares, their interests are not congruent with shareholders.

    I could not make contact with Farley despite several attempts. Draw your own conclusions.
    Jun 30, 2015. 12:17 PM | 9 Likes Like |Link to Comment
  • A Summary Of The Axion Power (AXPW) 2015 Annual Meeting [View instapost]
    virtual - and perhaps crazy not to tell prospective customers. Doesn't not communicating good news (if true) to shareholders and the investment community also seem crazy?
    Jun 29, 2015. 01:17 PM | 2 Likes Like |Link to Comment
  • A Summary Of The Axion Power (AXPW) 2015 Annual Meeting [View instapost]
    Bob (and Al)

    I find it hard to believe the marvelous magical improvements that Axion is claiming. Despite extremely limited funding and sales, and consequently very limited production runs, how can they possibly know that costs have dropped 45%, 10x productivity/man hour, or that 50% reduction in scrap.

    Further, if there is truth regarding the power energy, cycle life life, and PSOC improvements, why isn't there a press release?

    Skeptical is too polite; I call BS.
    Jun 29, 2015. 12:46 PM | 5 Likes Like |Link to Comment
  • A Summary Of The Axion Power (AXPW) 2015 Annual Meeting [View instapost]
    Bob - You are beginning to sound like me with complaints about management and information suppression. This was not a "sophomoric mistake"; it has been standard practice for longer than it takes to graduate from high school.
    Jun 29, 2015. 12:37 PM | 2 Likes Like |Link to Comment
  • Axion Power Concentrator 400: June 22, 2015 [View instapost]
    virtual - We do not know if Gesand if has already substantially bought the company surreptitiously.

    Legally, he has to declare if he owns more the 5% of the company. We do know he like to work with anonymous shell companies.

    It would be fairly easy for him to have set up a network of anonymous shell companies each owning 4.9%. He then completes the LOI, gets on the board, and proposes some ridiculous buy out agreement that the shareholders have to approve.

    Surprise! The buy out agreement passes, despite highly vocal opposition from the peanut gallery here on APC. Retail shareholders get essentially nothing.

    If this is the plan, it really does not matter what he "invests" with Axion, since he gets it all back upon final purchase.
    Jun 29, 2015. 12:28 PM | 3 Likes Like |Link to Comment
  • A Summary Of The Axion Power (AXPW) 2015 Annual Meeting [View instapost]
    The could have done a lot of things. While IANAL, I assume they are (barely) in SEC-compliance and releasing the minimum information required.
    Jun 29, 2015. 10:28 AM | 1 Like Like |Link to Comment
  • A Summary Of The Axion Power (AXPW) 2015 Annual Meeting [View instapost]
    virtual - Payment of the $250k would not be considered material (reportable) since it has already been declared. Non-announcement is non-news.

    Non-payment would be material; I do not know how many days (if any) grace would be allowed before reporting.

    Even with the payment, Axion is still officially a public company and required to file SEC forms.
    Jun 29, 2015. 09:59 AM | 1 Like Like |Link to Comment
  • A Summary Of The Axion Power (AXPW) 2015 Annual Meeting [View instapost]
    Yep. But did they really show them in public at all? Al was the only non-insider stockholder at the meeting. Perhaps it was a presentation only for Gesang?
    Jun 29, 2015. 08:11 AM | 2 Likes Like |Link to Comment
  • Axion Power Concentrator 400: June 22, 2015 [View instapost]
    LCB is a shell company. There never is any info on shell companies, duh. Don't bother wasting your time chasing it. LCB almost certainly was created strictly for this deal, and has no history, employees, activities, etc.

    The fact that the deal is with a shell company is all you need to know....unfortunately.

    If the objective was strictly clever tax accounting, the deal would have been announced through Ophoenix, and only the final documents would use the shell company.

    Since the shell company is the only deal partner, all your bad dreams (and worse) are possible, with essentially no recourse.
    Jun 27, 2015. 11:30 AM | 9 Likes Like |Link to Comment
  • Axion Power Concentrator 400: June 22, 2015 [View instapost]
    Unsurprisingly, there is little information.

    He attended a 3-week executive education program in 2014 http://tinyurl.com/pqw...

    A home address in Shanghai.

    A business address in Beijing.

    Partner, Ophoenix Capital Management Co., Ltd.

    "And that's all she wrote"

    I assume those who care have already found http://tinyurl.com/q48...
    Jun 27, 2015. 09:17 AM | 6 Likes Like |Link to Comment
  • Axion Power Concentrator 400: June 22, 2015 [View instapost]
    Well, we'll continue to agree to disagree. We certainly can see how well their apparent paranoia policy has played out.

    There are dozens of posters since 2009 who have mentioned their inability to buy batteries; and surely lots more who never commented.

    If the technology is so easy to pirate, it is not a commercially viable product.
    Jun 26, 2015. 04:14 PM | 6 Likes Like |Link to Comment
  • Axion Power Concentrator 398: May 26, 2015 [View instapost]
    RA - You are two concentrators behind. See http://bit.ly/1GOCxae for the current APCs.
    Jun 26, 2015. 02:31 PM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 400: June 22, 2015 [View instapost]
    Particularly interesting to me are the images at the end of is the http://1.usa.gov/1NiNIdu.
    While not PbC batteries, there is an extreme localization of heat (wasted energy). It explains why NSC chose to use 218 sensors to measure heat in a 54-string of PbCs. And why a single sensor (if it even was installed) was not particularly relevant ad did not signal failure for ePower.
    Jun 25, 2015. 08:40 AM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 400: June 22, 2015 [View instapost]
    virtual - uhh, every battery works until it's end.

    Everybody is alive, until they are dead, right?
    Jun 24, 2015. 12:22 PM | 7 Likes Like |Link to Comment
  • Axion Power Concentrator 400: June 22, 2015 [View instapost]
    1) Customer installs battery wrong (no air flow)
    2) Customer does not take reasonable efforts to monitor operating conditions
    3) Customer did not do minimum level of testing
    Jun 24, 2015. 09:21 AM | 12 Likes Like |Link to Comment
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