Are Spire and Axion Heading For Extinction?

Spire (SPIR) became a penny stock yesterday (02011.11.16) hitting an intra-day low of $0.89 before closing at $0.96. 52-week range: $0.89 - $6.20. I've placed a limit order to add to our SPIR holdings at $1.00. SPIR is an important stock in the GDT::Portfolio and it is frustrating that it has become a penny stock.

Axion Power International (AXPW.OB) reported 3Q'11 results on Tuesday, 02011.11.15, and yesterday (02011.11.16) AXPW.OB hit a new 52-week of $0.30 before closing at $0.38. 52-week range: $0.30 - $1.27. The following was copied from the company's 3Q'11 press release.

"[...] although we have made very significant progress with our PbC technology, the adoption process, and the general path to commercial viability, has been longer than we originally anticipated. In addition, we will need working capital to fund our anticipated continued growth of sales in traditional batteries and PbC products. Consequently, we initiated prudent and proactive steps in the second quarter that we have continued since that time, namely - to explore funding strategies that will ensure that we have the flexibility to access capital resources when they are needed to meet our business goals. We believe that currently available funds at September 30, 2011 , along with internally generated funds, will provide sufficient financial resources for ongoing operations, working capital and capital expenditures through the second quarter of 2012. Subsequent financings will be required to fund the Company's ongoing operations, working capital, and capital expenditures beyond June 30 , 2012."

Key phrases the Axion press release: "longer than we originally anticipated" and "subsequent financings will be required" and a drop dead date of 30 June 02012.