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Yup. Same old, same old, NEAH Power.
If they can't make it in this Green World, anti Oil and Gas environment, they never will.
They would only have to report if their status changed.
They both reported under 5% so that indicates they sold stock and thus went down in ownership.
It's funny, they started making noise last summer and then all of a sudden its really quiet, so quiet even the crickets have shut up.
Only indications that this is still alive is the Battery Engineer and Lab assistant openings last year, also a new VP of applications engineering.
Applications Engineering, meaning you have a technology and are developing useful products to serve with it.
They also have a Factory in India that has to be churning out some High Temp batteries so some customer has to be buying these up.
Is it possible that the same factory can package Powerchip batteries also ?
Nothing from Cross Border Power since their noise in the summer.
The new VP of Applications Engineering is a founder and CEO of his own company VETRI Labs which will have someone at NaatBatt which is ending today.
Tough to say whether they are making headway or in stasis. I guess we wait another year.
jmho
Bill
Nothing is certain until announced. I hope that you are correct about XNRGI and Nicola.
I think Nicola will stay as a hybrid power systems provider due to the fact that their long haul segment needs the distance power. They have a National Agreement with Ryder for all their locations to become service/ Hydrogen refilling depots. They will eventually have to infill with dedicated stations also.
Maybe this is where a technology like HyperSolar's will become viable.
Reforming Nat Gas also not such a bad thing with all that cheap natural gas.
Depending on if they really have a thing with XNRGI they could adapt the Formira technology and use Formic Acid and onboard reforming.
Jmho
Bill
The problem is that we do not know if they are in any agreement with Nicola Motors.
Nicola will announce later in the year.
The hints that it could be XNRGI are the Battery Characteristics especially the "Easily Recycled". Not very many batteries make the claim of being able to be easily recycled.
Other hint is that Nicola has "licensed" the technology and will share the IP with any companies that want to develop different applications with the technology as long as they contribute to the license fees. This is exactly the model that D'Couto was striving for in the past with his Fuel Cells.
The only thing I have read that indicates it could be another company that has licensed to Nicola is that they claim that the IP was created by a University, although the XNRGI tech was invented and developed by people with ties to Oregon Institute of Technology.
Slobodan Petrovic a professor at OIT is listed as the inventor on some of the key patents and depending on IP clauses in the employment contracts it may have turned out that OIT and/or Petrovic legally held the IP that caused the lawsuit and settlement in 2019.
So even with that caveat, it could still be XNRGI that is vaguely described in the latest Nicola claims of battery performance.
jmho
Bill
I think pigs will fly before XNRGI addresses the fact that they did not honor the covenants of the Class A share structure.
Jmho
Bill
There are some interesting additions to the XNRGI team, some maybe related to what we have posted on this board in relation to CFO absent from the list.
Added to the Board of Directors:
Jon M. Garfield, Board Member
Jon M. Garfield has served on the Board of NEAH Power since May 2008. Mr. Garfield is currently the CFO of Monte Nido LLC a behavioral healthcare treatment facility. He served as Chief Executive officer of technology company Clearant, Inc. (OTCBB: CLRA) from January 2007 until October 2010, and as Chief Financial Officer at Clearant, Inc. from September 2006 until January 2007. Mr. Garfield has served as a member of Clearant, Inc.’s board of directors from May 2007 until August 2010. From September 2001 through 2006, Mr. Garfield served as an independent financial consultant, including advising as to SEC reporting obligations and Sarbanes-Oxley compliance. He has had responsibilities as Chief Financial Officer of a telecom service provider and a software developer, Vice President of Acquisitions for the formerly NYSE-listed ground transportation consolidator Coach USA, Inc. among others. Mr. Garfield was chosen to serve on the Board of XNRGI because of his previous experience in chief executive officer and chief financial officer roles at public companies and because of his financial literacy.
Not the CFO but now supposedly on the Board. He was listed in LinkedIn as a member of the "Audit Committee" who we can thank for the restructuring of NEAH/XNRGI - 1 for 2 million sh reverse split.
They still need a CFO due to the fact that a board member is not active management. So it does not matter, they are still lacking.
On the management side there is also a new addition.
Dr. Chockkalingam, VP, Applications Engineering
Dr. Chockkalingam “Chock” Karuppaiah has over 22 years of experience in electrochemical and energy product development. The products he developed include Polymer Electrolyte Fuel Cells, Flow Batteries and Solid Oxide Fuel Cells. He was part of the design, development and manufacturing scale up of 7 different products. Dr. Chockkalingam’s professional experience includes being Vice President of Engineering at Bloom Energy, Founder at EC Labs, Research Professor at Case Western Reserve University, Manager of Fundamentals Team at Plug Power and Research Staff at Los Alamos National Lab. He has authored 19 published patents.
This guy has some really good credentials so looks like a good addition. A lot of fuel cell knowledge, maybe they are combining with Nicola as they are a fuel cell company adding battery electric etc.
jmho
Bill
At the very least they could standardize the expectations on their various product roadmaps that they have published, none of them seem to match with each other so we don't know which one to believe.
I may have to go with the most pessimistic version.
I have come to believe that PESSIMISM with regard to XNRGI is the way to go in setting expectations here. I do however, suspect that this outlook is too optimistic.
jmho
Bill
Since, I have it bookmarked no. However running a symbol search yielded a "ticker not found ".
This similarly disappeared from other financial sites over a year ago.
It's not trading and therefore the stock symbol really isn't valid. I'm sure this board will disappear with some effort from the XNRGI management. When you run a Google search on XNRGI some of our posts do show up.
We don't always post positive things, we post their failures, we post about their lack of shareholder consideration, maybe XNRGI would like to quiet us down permanently.
Unfortunately for XNRGI , they will always be who they are and run business the way they have been since 2006 when they went public. We don't have any effect on that, we just post our opinions about it.
Jmho
Bill
Front looks like what is represented in the graphic of the XNRGI HQ.
We already have the video of the automated pack sorting equipment, so we can assume they are building battery packs for the HT series, so that means they have to be selling. Why is no one claiming to be buying ?
This is not the power chip manufacturing, if it was, why would they not announce it.
All we can assume is the 2nd Factory claimed by Helios will be the PowerChip factory in Cairo Egypt. Again why no announcements?
Bill
Well you didn't check LinkedIn very well.
Bill
It is called Breaking The Pattern, I have not seen this company break out of it's pattern.
Just supporting shareholders by following the rules in the stock classification would have been a start, but nope, can't even do that.
Putting out a PR or shareholder letter when they stopped trading, completed a massive reverse split, went private and changed the name of the company would have been a start, but nope can't do that.
A shareholder letter a year after becoming XNRGI would have been a start, but nope, can't do that.
I could go on and on, past, present, doesn't matter, they have not changed.
The inventor done left. Can the remains ride his coat tails of accomplishment?
JMHO
Bill
A " Good " Lie.
Had everything, Ion was to be the provider of NEAH Fuel Cells, had supposedly already paid them money.
PSN had supposedly bought over 32 and a half million shares and right of first refusal on NEAH " high volume " manufacturing. High Volume ? How about no volume, maybe they outright refused.
A nice graphic comparing the NEAH Fuel Cell with Current ( at the time ) military batteries and weight of each. Insinuation that military contracts were "in the bag ".
A Good One from Chris " When they zig, I zag " D'Couto.
JMHO
Bill
Man, these things are like fleas on a dog, never ending and never do a thing for the dog.
http://www.renewableenergyfocus.com/view/6610/neah-power-sells-fuel-cell-powered-air-conditioning-systems-demonstrates-battery-charging/
Bill
This one was a good one. I think they admitted to walking away from this one later on.
http://fuelcelltoday.com/news-archive/2013/march/neah-power-announces-sales-and-purchase-agreement-and-manufacturing-rights-agreement
Bill
Another one that went into the ether.
https://www.globenewswire.com/news-release/2015/10/08/1214002/0/en/NEAH-Power-Systems-and-Black-I-Robotics-Team-Up-to-Power-the-Robotics-Industry.html
And another one.
https://eijournal.com/news/business-2/neah-power-partners-with-silent-falcon-to-integrate-fuel-cells-into-unmanned-aerial-vehicles-uav
And another one,
https://www.automotive-fleet.com/123150/electric-car-co-teams-with-neah-power-systems
Bill
I completely agree, they still run the same business plan of big claims with Never and I mean Never a large public demonstration of their supposed performance claims.
Then of course the abandonment of current tech for newer and better which also never pan out and are abandoned for yet another better, newer , blah, blah,blah and it is so good they have to keep it secret.
Cartoon websites with nothing real actually shown. Misspellings galore. Just look at their Gurgaon factory video, misspelled.
Partnerships that ALWAYS go into the ether, never to be heard from again. I could understand some, but every single one ?
Maybe the reason we will never see a dividend from these guys is that it is still what it always has been. VAPOR. Nothing more.
JMHO
Bill
Sadashiva,
If you read the 10K, there is a part about the accounting inconsistencies where they claim that they did not have complete knowledge of accounting practices to have put a priority on it but would in the future. COP OUT.
That is very telling in how D'Couto perceives his role as a corporate executive and his power along with responsibilities. Either he gets bad and incorrect advice on what is acceptable and legal, or he gets tied up in the technical side and does not bother to appoint qualified personnel to the other aspects of running the company. It does not matter as he tends to fall short always.
When you look at the executive structure there is no CFO listed. A CFO would have that financial responsibility and push for corporate governance to stay within the law. Once again, just as in NEAH, that seems to be lacking.
A key base component of a corporation is the Financial oversight and accounting component. When that does not exist, the other groups who only care to get their aspects or projects funded will do so without regard to the effect on the company. Those managers figure that they do their part and the rest is being taken care of by someone else. In the case of XNRGI, there may not be anybody taking care of the whole.
In our case currently, there does not appear to be any interest on D'Couto's part in following corporate law, this company is private, what it earns is private, what it spends is private and no one is owed anything until he decides.
The part that burns me the most is that we never got a base value or ownership percentage of our stock at the change to XNRGI. We have no reference with which to base future growth. This means that if XNRGI succeeds, he can arbitrarily assign value to our stock to minimize what we get.
D'Couto has responded to several inquirers in so many words, that if they are not happy, they can always sell at fractional payout prices. He knows it is a steal for him.
All we can do is wait another year, or we can sue which I think will get us an offer to buy at severely depressed value.
JMHO
Bill
Will the 9th year be the charm for me ?
We can keep hoping and waiting, we really don't have any other choice do we ?
I remember D'Couto blaming the Great Financial Crisis for not being able to capitalize NEAH after going public with the reverse merger in 2006.
Here we are after the longest bull run ever. He will probably blame the next recession for failures in XNRGI.
History doesn't repeat, unless you're NEAH / XNRGI
JMHO
Bill
Those 10Q and 10K reports were submitted late by XNRGI but we're for time prior to going Dark. Thus showing as NEAH . They submitted late and so included 2017 updates.
Bill
This article gives a little more insight into the Battery Partnership but not enough to glean what company it is with.
https://nikolamotor.com/press_releases/nikola-corporation-to-unveil-game-changing-battery-cell-technology-at-nikola-world-2020
They do plan to share and spread the IP with other OEMs that contribute to the Nicola IP License.
Kind of fits into how XNRGI always wanted to run, licensing IP to OEMs to have them build batteries for specific applications and customers. Does this mean they are building battery factories to supply certain markets and customers while licensing out the technology to organically spread through other Integrators and OEMs ?
"This month, Nikola entered into a letter of intent to acquire a world-class battery engineering team to help bring the new battery to pre-production. Through this acquisition, Nikola will add 15 PhDs and five master’s degree team members. Due to confidentiality and security reasons, additional details of the acquisition will not be disclosed until Nikola World 2020."
This battery is cheap, high density, safe enough to pass the Nail Puncture test and easily recyclable. Lighter than other batteries.
To date, only one battery has claimed all these advantages that I have seen.
jmho
Bill
Naw, it would get you much more.
Let's look at this from a D'Couto point of view.
Pretty sure he owned about 350,000,000 or in that neighborhood of NEAH shares. Let's say he granted himself some more of the class A in the last 2 years and that he has approx 150,000 class A. Would he sell out for 10 bucks ? Or 1.5 Million dollars ? After all that work ? Nope. Maybe for 15 Million dollars but for the "Holy Grail" of batteries? Hard to believe.
I don't think he would sell the whole company so that he could get a small payout , not if he is really on the cusp. He strikes me as a guy who has held on through thick and thin to make it happen.
He may license out like he did Grid Scale for North America. He will want royalty payments from all applications of the tech " A La Qualcomm, or Intel . The gift that keeps giving.
My opinion is that the company is not worth what it would take for him to give it up, not at the beginning of commercialization. Maybe when it is mature and worth many billions and he can personally get a billion out of it.
This may not be XNRGI that they are talking about, but if it is, has to be like an exclusive multi year license or joint license if shared before expiration.
Not enough money there yet.
Jmho
Bill
We saw a few years ago when the Prieto Battery was going to make all batteries obsolete. Lots of PRs and funding etc, then crickets.
I think silence while working feverishly ( at least In hope ) in the background to get the manufacturing, sales and distribution going is a good thing as if relates to competition.
A concise shareholder letter stating the status of the dividend and at least the state of the business would be nice.
They have claimed the ability to ramp up production very quickly. It remains to be seen.
Bill
Yes, a lot of the claims made by XNRGi are touted in this article. Double the Density, half the weight and cost, easily recyclable.
It's the easily recyclable that stands out to me, because there is not another battery out there that I have read about, that touts that claim.
The "experts" in the industry cannot wrap their heads around the concept that a "paradigm shift" happens when something is done very differently. Hence the implied indignance of those experts in response to the outlandish claims. I mean really ? How is such a claim damaging anything ?
XNRGI has been to the trade shows and Petrovic presented at some and spoke about the battery tech they were developing, yet the "industry experts" appeared to ignore any XNRGI commentary on their battery. I never saw any follow up articles or interest increase after these shows. Experts are always too full of their own ideas to accept others and yet that is where major advancements often come out of left field. Hopefully XNRGI is the secret startup referred to here.
Although I do wonder as rediculousd posted about possible relationships with Jaguar/ Landover and also about Daimler . If given a glimpse of the potential, why would they have passed on XNRGI batteries ?
Jmho
Bill
I do wonder what has happened with the whole share structure in the last year.
They claimed in the summer to have American and Canadian investment.
I am sure it had to come with shares exchanged. However, they have not made changes at Nevada SOS. So they would have to be issuing common in exchange, vs class A due to the fact that there was a limited amount of class A and which I suspect they were holding to pay incentives to themselves. Maybe there would be enough to pay us our 10% also in class A shares.
You have the Nevada SOS docs from 2018, did they compress the common down to 1.5 million after the reverse split ? Or did it stay at 3.5 billion shares ?
Bill
So you are saying we are years away from getting paid our 10% ?
Bill
Despite my less than forgiving opinion of this company and its Officers they do appear to be making headway in growing the business.
Lets hope they treat their customers and potential customers better than their shareholders.
Bill
Do you mean theoretically ( which I agree ) or have you received your 10% already ?
I have not seen anything in my accounts.
Bill
To be honest , the video on that plant does not show battery manufacturing. It shows automated sorting. More like a place that is creating larger battery packs from what looks like 18650 type batteries.
Jmho
Bill
Seems to me like this was nothing more than a pump article for Tesla.
Tesla was mentioned 16 times.
XNRGI - none
What is XNRGI doing ? Who knows ?
We get nothing, not even the courtesy of an annual shareholder letter, this thing has been reverse split, reorganized, funded, built one factory working on another and all we get is a vague idea from hearsay. They can't even spell the name of the town where their factory is located.
Bill
You just made a great argument for not investing in this. I'm sure you did yourself a good favor.
Go buy some Amazon stock, wall Street loves that.
Cannell came on board to Sesen in Aug 2018. So if you are referring to anything before that, you are gonna have to blame someone else.
Most startup biotechs dilute,dilute then RS and start over. You find me a small biotech past phase II with a drug that has a low float of 50 million or less and it has probably had a reverse split.
Sesen is not out of the ordinary when it comes to that.
Last summer when the outstanding shares were at 75 million, they announced a reverse split to get back above a dollar, in that announcement Cannell commented to the fact that being barely above a dollar would not allow the offering of 25 million more shares that was in the plan, more of a cushion was needed. This was clearly stated in the reasoning for a Reverse Split. The stock price went over a dollar for the required time period, the delisting notification was pulled and the reverse was cancelled immediately, they did not do the offering immediately and kill the stock price to force the reverse, which they easily could have done. THAT would have been slimy.
They instead allowed the stock price to rise then issued the 25 million that they needed . They reserved stock for future employee incentives which is not out of the ordinary. They re-organized their warrants and started an ATM in order to capitalize incrementally on stock price.
Most shareholders don't understand the simple fact that the stock we buy on the exchanges is stock that was already sold before by the company to raise money. We may support the share price and thus give a valuation but our buying of stock does nothing for the company directly. Yet many expect a company to I guess raise money magically.
Sesen needs to start a manufacturing and distribution chain. Guess what ? That will cost a lot of money that they do not have and will need to raise.
For myself, I see the need and potential of Vicinium not just for Bladder Cancer but for all the other cancers with EPcam expression. My bet is that big Biopharms also see it and one will hopefully buy them out before the capital raises are necessary.
Jmho
That is how all companies raise money. They trade money for ownership in a company.
Unless a company is getting a government grant, it's usually a stock purchase.
That is why all those large successfull companies in the investing world can execute large amounts of share buybacks and still have large floats, because they sold so many shares building up their businesses.
Bill
Mine shows the Cusip # of 984CNT014 but if I hover the pointer over the number it has a popup that shows XNRGI Contra.
Other folks have the different CUSIP # 9BF994005.
Mine are in an account at Etrade.
Bill
You say number so I am guessing that is the CUSIP that you are quoting as being 9BF994005 yet my E-Trade shows a different number.
MY E-Trade shows 984CNT014.
Bill
No extra stock in my accounts.
Bill
That's interesting due to the fact that a 10% interest on a stock with no value could theoretically be paid with a 10th of the quantity currently owned. I have not checked mine in a couple of weeks.
I will check mine tomorrow and report back.
Bill
You know, even when NEAH was a micro penny, they held to the covenants of the B Preferred shares and paid the interest and conversions to common, they did it so well that we were diluted to nothing.
Of course, that hosed the common shareholders, so it was acceptable to mgmt.
Now that there is something that could possibly be a benefit to those shareholders who were converted to class A , it will be ignored.
JMHO
Bill
How about that XNRGI interest for the Class A stock ?
Another XNRGI lie.
A buddy if mine that holds over 5 thousand shared emailed D'Couto and was ignored. No response at all.
Bill
No I was not referring to you at all.
I was referring to other posters on other boards that have created a sort of mob mentality and image about this stock.
Vicinium has huge potential not just in Bladder Cancer but other types also.
Too much potential here to give credence to the bashers .
Glty
Bill