Tuesday, December 30, 2014
Wednesday, December 24, 2014
Two weeks ago the company issued a letter to shareholders and the last paragraph started as follows.
We believe that the current stock price and market valuation of Axion Power is significantly lower than it would be if the market were taking into account the inherent worth of our technology. We believe that our stock is undervalued based on the technology's potential to save money for our customers in the transportation space by increasing gas mileage and reducing emissions. In the energy storage space, using PbC batteries to decrease payback time for solar photovoltaic farms and other renewable energy projects.
Chairman of the Board of Directors and Chief Executive Officer, Steven G. Mihaylo (through a trust) agreed to purchase 1,449,275 shares of Common Stock at a price per share of $1.38 for a total of $2,000,000.00. The agreement which was signed today is expected to be financed by December 27, 2014. In addition, Mr. Mihaylo has been granted 500,000 warrants to purchase common stock of the Company; the warrants have a five year term and a strike price of $1.38 per share. Mr. Mihaylo has agreed that for a period of two years from the date of the Sale Agreement, the Company may require him to exercise the warrants if the Company determines the exercise of the warrants is necessary for the cash needs of the Company.
I understand the issuance of stock is dilutive, but I like it when a CEO has confidence in the future of his company.
Friday, December 19, 2014
Thursday, December 18, 2014
Wednesday, December 17, 2014
Google (GOOGL) hit a new 52-week low of $497.19 before closing yesterday (02014.12.16) at $498.16 (i.e. below $500).
The GDT::Portfolio is heading in the wrong direction these days (i.e. it's approaching $0).