Monday, January 9, 2012

Good News, Bad News? Axion Power and Spire

Axion Power Intl. (AXPW.OB) ended 02011 at $0.27. On 02012.01.04 the company issued the following press release: Axion Power Chosen for Battery Mini Power Cube in Zero Energy Building in Washington DC Naval Yard.
Axion Power Chairman & CEO Thomas Granville commented, "Although this is a small project, in terms of dollars and number of batteries, it is a significant step forward because [...]

AXPW.OB closed Friday (02012.01.06) at $0.41.

Spire (SPIR) issued the following press release on 02012.01.06: Entry into a Material Definitive Agreement, Notice of Delisting or Failure to Satisfy. Spire is in violation of two Nasdaq Marketplace Rules: the "Minimum Bid Price Rule" and the "Minimum Public Market Value Rule." At $0.69 (which is under a buck) has a market value of $5.8 million (which is under $10 million). The Spire press release ended with: "The Company is considering its alternatives at this time." Duh! A reverse split gets the stock price above $1, but it doesn't do anything to improve the company's market value.

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