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Axion Power International Inc. Message Board

  • bradskyb bradskyb Mar 22, 2014 10:20 PM Flag

    Annual Report

    Anyone know when earnings should post?

    Sentiment: Strong Buy

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    • It's official. After markets close on the 31st is when they'll publish. Conference call will be the next morning at 10am.

    • Was hoping they'd release today. Saw something about before market open on the 25th on another message board about Axion Power. Should be in the next few days though. I can't wait to get news.

    • Surprisingly they have not yet announced the date. Last year the annual report was out on 3/22, so I would expect something soon.

      Here is an excerpt from the most recent SEC filing on 2/28:

      "...due to the decrease of the market price for the Company’s common stock since May 2013, it was necessary to register an additional 65,330,714 shares to continue to meet its obligations as set forth which were registered pursuant to a Registration Statement on Form S-1 (file no. 333-191774), which was filed with the SEC on October 17, 2013 and declared effective on November 1, 2013. However, again due to the decrease in market price of the Company’s Common Stock and the decrease from 85% to 80% of the VWAP of the common stock to calculate the Company’s conversion price for its Senior Convertible Notes in December 2013, it is necessary to register an additional 30,000,000 shares for potential issuance to continue to meet its obligations as set forth. This amount represents a good faith estimate of the additional maximum number of shares issuable pursuant to the Senior Convertible Notes."

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