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lwinkle

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  • Axion Power International's CEO Discusses Q4 2013 Results - Earnings Call Transcript [View article]
    As reported on Yahoo East Penn seems to have a report that blows Axion out of the water, or at the very least provides pertinent information.

    12 Month Technical Performance Report
    Grid-Scale Energy Storage
    Demonstration of Ancillary Services
    Using the UltraBatteryⓇ Technology
    Smart Grid Program
    Award Number: DE-OE0000302
    Company Name: East Penn Manufacturing Co
    January 21, 2014


    So I also have to ask, why is it there seems no comparable report from Axion >
    Apr 3 01:06 AM | Likes Like |Link to Comment
  • Axion Power: Out Of The PIPE And Into The Light - Part II [View article]
    .


    Albert DeKoven

    The company filed an S-1 a few days ago. This is mentioned on the other board
    so I copy and paste it here for you.

    page 43 Axion Power International, Inc. · S-1 · On 1/31/14
    Filed On 1/31/14, 4:31pm ET · Accession Number 1144204-14-5279 · SEC File 333-193700

    " We believe that the available funds at March 31, 2013, and including the net proceeds from our May 8, 2013 issue of $9 million in senior convertible notes and $1 million in subordinated convertible notes plus internally generated funds from products sales will provide sufficient financial resources to fund our operations, working capital, and capital expenditures through the first quarter of 2014. "

    " Subsequent sources of outside funding will be required to fund the Company’s working capital, capital expenditures and rate operations beyond the first quarter of 2014. No assurances can be given that the Company will be successful in complying with certain of the terms and conditions in the issuance of the Senior Convertible Notes or in arranging further funding, if needed, to continue the execution of its business plan including the development and commercialization of new products, or if successful, on what terms. Failure to obtain such funding will require management to substantially curtail, if not cease operations, which will result in a material adverse effect on the financial position and results of operations of the Company. "


    .
    Feb 3 03:10 PM | 2 Likes Like |Link to Comment
  • Updating The Impact Of Axion Power's PIPE [View article]
    .


    Author claims: " We developed a strategy in 2008 and the company's execution of that strategy has been flawless."

    I think the fact of the matter is, shares issued and outstanding went from less then 40 million to approaching and likely soon greater than 200 million.

    Additionally the price, well over $ 1.00 and now under $ .1.

    If that is flawless execution I am very concerned.

    Imagine what would have happened if they had a flaw !
    Or several.

    5 years later and NOT ONE BATTERY in a car or in a train ?
    Flawless.


    . Does anyone else here see the silliness ?
    Dec 29 05:59 AM | 2 Likes Like |Link to Comment
  • Updating The Impact Of Axion Power's PIPE [View article]
    Tom thank you for the post, I did not see it before this time, and going from what I have been told about the Axion PbC battery, I repeat the following:

    As far as I am aware, Axion has never disclosed the C-rate , why is that ? As you say, why are they not available to any consumer ? OR any consumer without a non-disclosure agreement which seems to be the course they have taken ?

    based on published Axion material we really have no idea what the battery does or does not do, as Axion has purported NDA's or non-disclosure agreements with all ?

    from what has been disclosed, and what I understand other posters have reported, or the rumor is

    a PbC has 500 Watt hours with 73 pounds of weight (33 kg) works out to be 15 Wh/Kg

    VARTA provides 80Ah for C20 at useful voltage, this compares to 20Ah for PbC down to 9 volt, 43Ah down to 6 volt, and 62Ah down to 3.6V.


    Axion's battery provides approximately one quarter the power, half the energy, and only a fraction of a compatible voltage discharge profile, and the discharge is rapid and significant. Just like it charges quickly ( many keep saying this is a great benefit) it discharges quickly and a rapid down rate.

    If this is wrong, I hope I will be corrected and someone will give us the specifics.

    the author tells us " trying to replace a flooded or AGM battery with a PbC would probably not work well. "

    So this appears to be the issue, without a battery management system directly correlating to the axion battery, it simply does not work in any 'usual' application. What I mean by that is you cannot take out a flooded lead or AGM and put in an Axion, or vice versa.

    the axion pbc appears to be its own distinct animal, and they will not put or have not put any information out there that others may utilize it, or see any advantage in it. when failing to write about advantages, I am concerned they are merely silent on disadvantages.

    My information may be wrong, but I think that is not my fault.

    Is this not the time for the company to come clean and post the C-rate and other important information ?
    Dec 13 05:53 PM | 1 Like Like |Link to Comment
  • Updating The Impact Of Axion Power's PIPE [View article]
    Thank you OCR I do in fact have your best interest in mind, and my best interest in mind. I thank SA for providing discussion on these boards to let us small investors vent concerns. I think that is the purpose of these boards and small investor discussion, to help us all to gather information. Each investor can then make their own decision.

    I find it curious that the volume failure was not discussed in the article, an article purporting to teach us about the PIPE and concerns regarding the PIPE.

    I find it equally curious that the article mentions nothing about the PIPE shares to be released and apparently sold over the next several months.

    “Volume Failure” even if you discount or ignore the volume failure issue, and find it not worthy of mentioning, I think the investors or SA readers deserve to know it exists and make their own choice.

    And additionally, there appears not one word about the eight Monthly Installments running from September 1, 2013 through April 1, 2014. I understand these are 10 million shares a month to be issued (and apparently to be immediately sold - see todays volume). How will this market absorb 10 million shares a month of new shares being sold ?

    Todays volume was not unexpected, due to the PIPE release of shares we knew were coming.

    The question is, should this continue, can they hold it above .10
    can the PIPE 10 million shares a month be sold without reducing price ? Without breaking The .10 threshold broken ?

    Or if they do not reduce price, will there be insufficient volume and risk of breaking the $ 60,000 threshold ?

    Remember the PIPE persons appear to get 15 % profit if there is no break of .10 but 25 % profit if there is a break of .10.

    the PIPE persons appear to get 15 % profit if there is no break of $ 60,000 trading average per day, but 25 % profit if there is a break.

    If you were a PIPE person would you prefer 15 % or 25 %. Would you care less if you dumped 1 or 2 million shares a day and let the market drop ? Would you care if you put only a few out for sale and kept the price higher and no one bought ?

    Will the buyers still step in and buy with 1.5 million shares put up for sale each of the next few days ??? ( watch the volume that is what I expect over the next few days if buyers are there)

    Or do you think there will be a dry patch where to sell 1.5 million shares a day, they have to reduce price ? meaning or the price is reduced due to market pressure to find buyers ?


    certainly will be interesting to watch. while the author considers this not even worth mentioning while declaring this a low risk downside " a solid medium-term speculation with limited downside risk "

    I disagree, and I simply wanted to point out some possible risks to the readers here. Do what you want with the information, I know what I did, and that is sit on the sidelines. I believe Tom Konrad did the same.

    Good luck to all.
    Dec 4 01:16 AM | 2 Likes Like |Link to Comment
  • Updating The Impact Of Axion Power's PIPE [View article]
    fcfactory - BMW seems to have never made an investment in Axion, surely they could have financed the 10 million 2013 finance if they thought it was a good idea. 10 million to BMW is probably pennies to a good portion of anyone else.

    Or if they thought the batteries worth while, why not throw in say 5 million ?

    So in my opinion of course they are reluctant.

    Certainly BMW could have bought 10 million of stock, and with that buy and their reputation alone, the stock would have gone up significantly.

    Not only would they make a fortune on the stock going up, they would have a friendship agreement with Axion and assure they had first dibs at battery availability. They could lock in an agreement.


    Author, why not just report what the CEO Tom Granville stated in the 2013 2nd quarter conference call when asked about BMW.

    " We have taken it off the table as far as looking at our breakeven points and projecting what our sales will be for the next year or so. " (if you do not believe me go to SA transcript, they posted it)

    I don't see any sales to BMW for the next year or so, well nothing significant, maybe a few test batteries.

    I think we all know there will 90 % guaranty, be NO sales to BMW before the next financing of Axion is needed. Well that is my take. If you think differently please tell me why. Until then I will rely on the CEO and the conference call transcript.
    Dec 4 01:14 AM | 3 Likes Like |Link to Comment
  • Tesla's Valuation Continues To Defy Logic [View article]
    To the author:

    Could you also compare, lets say GM verse TSLA

    I think many may agree that GM has a high book value, but is effectively bankrupt and GM is surviving based only on Government bailout and sales of vehicles via subprime loans.

    Can you tell me how GM book value is related to its share price.


    While you report " In reality, Tesla has limited book value and investors would obtain no value if an unexpected event were to hit the company. " You do know bankrupt is bankrupt, and if bankrupt common shareholders will likely get nothing, whether it is GM or TSLA.
    Dec 2 03:51 PM | 3 Likes Like |Link to Comment
  • Tesla's Valuation Continues To Defy Logic [View article]
    To the author: I am very surprised that anyone today would base a share price on book value alone. Surely there are other effects on share price such as Good Will.

    Or For example, more specifically

    Can you explain to me the patents that TSLA holds.

    And the value of the patents.

    Thank you.
    Dec 2 03:49 PM | 4 Likes Like |Link to Comment
  • Updating The Impact Of Axion Power's PIPE [View article]
    well you have your opinion, I have mine.
    we will let time show what happens, perhaps you
    are correct. I think it a concern and reasonable to be concerned.

    I rely on the actual trading volume in 2013

    From January 17, 2013 through April 19, 2013
    not one single day of volume above 500,000
    only 4 days above 400,000
    only 11 days above 300,000

    By my calculation at the current pricing the volume must be
    sustained above 500,000 a trading day, to avoid the
    $ 60,000 threshold.

    When you define volume failure, it is curious perhaps that you leave this portion out of your post ? Well I find it curious.

    “Volume Failure” means, with respect to a particular date of determination, either (x) the quotient of (A) the sum of the aggregate daily dollar trading volume (as reported on Bloomberg) of the Common Stock on each Trading Day over the fifteen (15) consecutive Trading Day period ending on the Trading Day immediately preceding such date of determination (such period, the “Volume Failure Measuring Period”), divided by (B) fifteen (15) is less than $60,000

    The PIPE owners are due eight Monthly Installments running from September 1, 2013 through April 1, 2014. Monthly.
    That Sept. Oct. Nov. were issued but that December will occur soon.

    How will they sell all those shares if they do not increase volume ?
    How will they increase volume if they do not reduce price ?
    How will they reduce price without breaking the .10 threshold ?

    My opinion, to get volume increase to unload shares they will reduce price, if it breaks .10 it will break it significantly.

    If they do not reduce price they do not sell shares, and they also break the $ 60,000 threshold.

    Boxed in is my opinion and my guess.

    Surely time will tell, but if this January and February and March is like last January February and March things will surely get interesting.

    Good luck to all.
    Dec 2 01:41 AM | Likes Like |Link to Comment
  • Updating The Impact Of Axion Power's PIPE [View article]
    You do realize, volume today was barely above 500,000 shares
    and therefore money barely above $ 60,000.

    You do realize and John Petersen told you: " If there is a failure of a volume condition or a price condition then the PIPE investors will have the right to demand their next payment in cash with a 25% premium. "

    You do realize:

    1. a price under .10 and the PIPE persons get cash + 25 %

    2. a volume limit, average over 15 days, under $ 60,000 in traded volume during a 15 day period, and the PIPE persons get cash + 25 %

    You do realize:

    The PIPE owners are due eight Monthly Installments running from September 1, 2013 through April 1, 2014. Monthly.
    That Sept. Oct. Nov. were issued but that December will occur soon.


    I know you are not concerned about it at all, and that you think it foolish to mention in your article, and that people who question it, like me, or Hal, are fools,

    But lets say for a moment, it is a concern

    Let me ask, with no news, how do you sell millions more shares without a reduction in price ?

    If you do not sell more shares you risk a volume default.
    And yet the price cannot go below .10 or you risk a price default.

    How do you do it, as you claim, the PIPE persons are selling all their shares.

    Do you really believe there are that many buyers, when millions of new shares will come out
    December, January, Febuary, March, April ?


    None stop punishment over next 5 months and what news is anticipated that we already don't know ?
    Nov 28 12:58 AM | 2 Likes Like |Link to Comment
  • Updating The Impact Of Axion Power's PIPE [View article]
    I cannot imagine any one would call or imply this is " not even a remote possibility " and not worthy of discussion.

    A quick review of volume shows the issue

    By my count, From December 3, 2012 through April 26, 2013 only EIGHT (8) trading days had volume above 500,000 shares.
    Or for example, from January 17, 2013 through April 26, 2013
    not one single day of volume above 500,000. Well I took a quick look but believe that accurate.

    The period is relevant to me, for this is the period post 3Q announcement, and pre 10K which they usually file in March.
    The 'winter' when probably nothing will be going on, meaning, for example, ice and snow in PA means NS probably not anxious to start testing now, if they are going to start at all, I imagine they want to start running in Spring and decent weather. I do not believe they announced any news during this time period the last few years (I may be wrong about that going from recollection).

    I find the 10, 20 and 50 day moving average irrelevant, they had the 10 Q announcement and sale of power cube announcement. That was news, maybe not great news, but news. Unless they have more news over the next few months I doubt there will be much interest and the volume will once again creep lower unless the price comes down (lower price spur more volume).

    We will have to watch and see; by my calculation in this price range to keep above $ 60,000 it has to trade above 500,000 shares a day.

    With no news and boring winter, and without reduction in price, I believe volume could be an issue. Time will tell.

    My bet, they reduce the price to .10 to get more volume. Hopefully it won't go below that, but it might.

    You do know there are eight Monthly Installments running from September 1, 2013 through April 1, 2014. We will have to see what happens December 3 when the PIPE shares are once again released, will they dump them on the market and will we get more volume but lower price, I think so.

    But they do not have much wiggle room, remember < .10 is a threshold and if .10 is broken it appears the PIPE owners get their cash back + 25 %. This seems like a real bonus or incentive to me.


    42itus. I have no agenda other than 1. to buy the stock and have it go up and sell it for a profit and 2. to not lose money by buying something that has a good chance of going down.

    Each investor will have to make their own decision on when they think it appropriate to buy if they decide to buy at all.

    If I had to guess and give an opinion, I say I agree with Tom Konrad or he agrees with me, Now is NOT the time; wait for an announcement so we know they actually have something; wait until the PIPE shares are out there, they run monthly until April, that's a long time (in my opinion).

    Good luck and Good Holiday to all !
    Nov 27 07:33 PM | 3 Likes Like |Link to Comment
  • Updating The Impact Of Axion Power's PIPE [View article]
    To the author

    I believe my comment is not wildly misleading.

    Even if you ignore the double count

    November 21, volume 281,300 x .11 = $ 30,943

    November 22, volume 406,100 x .11 = $ 44,671

    You already have 2 days under the $ 60,000 threshold
    and 1 day under the $ 40,000 threshold.

    Todays volume thus far 171,605 - we may be headed to another threshold break today, we will have to see.

    I believe it wildly misleading not to discuss this topic.

    . You are the one that suggested the double count. Not me.
    But even if we ignore it, there still appears to be significant concern.
    Nov 27 12:08 PM | 2 Likes Like |Link to Comment
  • Updating The Impact Of Axion Power's PIPE [View article]
    Amouna, thanks.

    I will be keeping my eye on volume over the next few weeks.

    Recent volume and pricing:


    Prices
    Date Volume Adj Close

    Nov 25, 2013 776,500 0.12 = 93,180
    Nov 22, 2013 406,100 0.11 = 44,671
    Nov 21, 2013 281,300 0.11 = 30,943
    Nov 20, 2013 582,900 0.11 = 64,119

    Volume Failure: (A) the sum of the aggregate daily dollar trading volume (as reported on Bloomberg) of the Common Stock on each Trading Day over the fifteen (15) consecutive Trading Day period ending on the Trading Day immediately preceding such date of determination (such period, the “Volume Failure Measuring Period”), divided by (B) fifteen (15) is less than $60,000


    4 day average is $ 58,228.25 by my calculation.

    By my interpretation we are already 4 days into a 15 day volume failure period. We will see what happens.

    Volume today appears rather sluggish. We will see.
    .
    It appears any trading day less than 550,000 shares is trouble.

    We are only 1/2 way there now and it is 2:00.

    This could be day 5.

    It will be interesting to watch. If I were an owner I would be
    quite concerned, but each investor must make their own decisions. I just like to chat and watch from the sideline right now. Too risky for me.

    Nov 27 01:19 AM | 3 Likes Like |Link to Comment
  • Updating The Impact Of Axion Power's PIPE [View article]
    Hal I agree with you. There are apparently two limits. But I disagree, in that I do not think the PIPE persons have the right to approval of any refinancing; I think they just want their money if there is a default who cares how they get it.

    The two limits:

    1. a price limit. under .10 and the PIPE persons get cash + 25 %

    2. a volume limit, under $ 60,000 in traded volume during a 15 day period, and the PIPE persons get cash + 25 %


    So this is a real dilemma in my opinion, or at least I think a reasonable person should be concerned.

    Without significant announcement, higher volume is usually obtained through lower price.

    so they need to reduce price to maintain volume,
    but they have little room to reduce the price or they hit the other limit but if they do not reduce the price, little chance for higher volume.

    As your conclusion states: "  If so, then perhaps the only hope that many shareholders may have is for some 'significant' announcement soon that increases the share price or for a white knight, (corporate or large investor(s)) to come to the rescue? "

    Unfortunately I do not foresee any significant announcement, I imagine they gave it all they had at the conference call.

    An announcement of a couple more power cubes is not that significant to me, while it may be revenue, I think most realize there is little profit. Even if the profit is $ 50,000 per cube, with a 2ml per quarter average burn rate, that's a lot of cubes.

    I think axion has to start preparing now for a refinance so if they do end up needing it, at least it is there. Waiting to the last minute is not a proper way to do business, in my opinion.

    If I got anything wrong, I would appreciate discussion.

    Nov 26 10:26 PM | 3 Likes Like |Link to Comment
  • Updating The Impact Of Axion Power's PIPE [View article]
    Hal I will respond to your question with my thoughts because I share the same concern.

    I understand the PIPE persons get shares at a 15 % discount to market and then sell them. That is how they make a profit. See Tom Konrad article and John Petersen writings I believe they confirm that.

    John Petersen tells you " If there is a failure of a volume condition or a price condition then the PIPE investors will have the right to demand their next payment in cash with a 25% premium. "

    Well 25 % is better than 15 %. I think if the PIPE persons are offered 25 % they will take it. They have no transaction cost, and get 25 % - a decent return for a short time.

    If Axion has to pay back cash plus 25 % - while the PIPE persons won't have shares, Axion wont have cash. The entire purpose of the PIPE was to raise cash. Axion would then I imagine have to go back to do another financing. Another financing in the short term could have terrible impact on the share price; an announced failure of volume thus could have short term negative impact on share price.

    Accordingly, the Konrad .06 seems likely or at least possible to me in the event there is volume failure.

    Thanks for bringing it up, I think it an important topic.
    Nov 26 09:02 AM | 7 Likes Like |Link to Comment
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