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They never changed any wording.
The wording was to "initiate BLA in 2019" which they have done. Not complete the BLA in 2019. Most expectations that have not been met were created by posters on the various boards and not by management. The SESEN website has a schedule of events with little green checkmarks for completions, no mystery there.
Too much twisting of facts by the passive shorters and active shorters on all boards with this stock.
The only negative has been some of the stock dilution, however they have no debt to deal with, so not a killer by any means.
jmho
Bill
She also said it was impossible that NEAH could make a battery that could perform better than existing.
Unfortunately we haven't seen such a battery in public so can't totally say she was wrong.
However, they do have a factory up and running in India. Plans for another in Egypt . They have licensed out North America to a new startup for Grid Scale batteries .
All we have to do in 2020 is wait and see, is that really so difficult ? Most of us have been waiting since 2012/2013 .
The way I see it, that money is either gone, or it is quietly growing and will eventually pay me back.
We all had opportunities to exit with plenty of warning, this had a stop sign on the OTC, it went pink, it went dark. All here, took the high risk for high reward.
Hopefully we see some reward.
JMHO
Bill
You're Welcome.
Yeah despite everything, XNRGI can't help but give us little clues here and there.
Bill
That is Terra Motors not Tesla. Resemble ? Kind of.
https://www.electricvehiclesresearch.com/articles/6537/terra-motors-expands-into-asian-electric-vehicles-market
Bill
Which conference is this referring to ?
No, most companies would have declared bankruptcy then sold off IP assets which was the only thing remaining and paid off their creditors. Shareholders would have received nothing.
For once I agree with KennyPooh, if you feel cheated then the Nevada SOS and or law enforcement. Although all XNRGI will have to do is show business progress to invalidate your complaint.
D'Couto has offered up to buy our shares although it is at fractional payout prices. You could always sell the stock back to the company and take the difference to what you paid as a tax loss.
Other than those options you may be stuck until they go public for any type of share appreciation.
You have not really been clear as to what you expect from XNRGI at the this time. I am sure there are other shareholders who may join you in a complaint, if you articulate a goal for what you are trying to obtain from the company.
JMHO
Bill
That and 4 dollars will get you a latte at Starbucks.
When DCouto was asked about business updates, what he responded with was that " XNRGI needs to operate as a private entity and focus on growth and commercialization. "
Yeah, the word transparency was never uttered.
You can always give it a shot at trying to get information from him.
The way I see it, they are moving forward as evidenced by the new factory and the licensing of North America to Cross Border Power, settling the patent lawsuit.
I waited while they languished doing nothing but selling stock to dilutive lenders, this actual accomplishment stuff is easy to wait through.
Jmho
Bill
I don't think we do, as they are not dark. They are private.
Bill
Good article.
One of the comments was " Yes, the report indicates that once other battery chemistries come into play the India market and markets that use more utilitarian smaller EVs will explode as well due to affordability."
XNRGI has been working this region for a while, Telecom and E-Bikes. A new factory to source batteries locally for the customers. Another new factory in 2020.
There is a side panel illustration on the Amobi Capital website of a world map that shows the change in primary energy demand from 2016 through 2040 in Mtoe, where 1 Mtoe is equivalent to 11.3 GWh.
India is 1005 Mtoe, Africa is 485 Mtoe and the Middle East is 480 Mtoe. This is where XNRGI has targeted and initialized operations. This is where they saw the most explosive growth and thus opportunity. They seem to be on the right track.
JMHO
Bill
As I have mentioned before, in early 2017 NEAH was on the verge of Bankruptcy.
2.5 years later seems like a lifetime, yet they did not go bankrupt and now getting mentioned in more mainstream blurbs as one of the leaders in Lithium Silicon Batteries.
https://www.marketwatch.com/press-release/Lithium-Silicon-Battery-Market-2019-By-Application-Leading-Players-Update-Region-Market-Estimate-Project-Economics-Pricing-Analysis-Opportunities-and-Forecast-2026-2019-11-20
https://www.fortunebusinessinsights.com/industry-reports/lithium-silicon-battery-market-101426
I think 2020 will be a good year for them.
JMHO
Bill
These companies were ranked in order of funding.
Since the funding of XNRGI is not listed, it suggests that it is not known. In that case, how can this ranking be considered to be accurate ?
If they have a battery factory operating as of Q3 2019, that probably took some significant funding.
Cross Border Power who has licensed XNRGI's battery tech for one application in only North America was ranked higher than XNRGI.
It is easy to see that these rankings have no bearing as to who may be a success in the battery place in a few short years.
Since you made no point other than a casual observation of the article, there is nothing to prove, you just have to interpret the data given for what it is.
Jmho
Bill
Standard drones 30 minutes, this thing went 1 hr and had 1/2 hour left. Not bad as it went 3 times normal .
We don't know what happened with the Silent Falcon, suffice to say it was already a multi-hour with it's solar panel wings and battery setup. It will stay up 8 hours in daytime and 4 hours at night, maybe they didn't need the extra capacity.
NEAH was at the cusp of going broke at the time. I favor the battery development over any fuel cell R &D wasting money.
Following the Fuel Cell path they would be bankrupt by now.
Jmho
Bill
They have shown that they have one factory producing the HT Lithium Ion packs. They seem to have targeted telecom for these.
This is a good market and especially with 5G happening on higher frequency bands and thus requiring a massive number of small cells vs the traditional lower capacity Macro cells at tower locations.
The telcom equipment runs off of DC ( -48V ) mostly, so there will have to be AC to DC conversion to provide this and small batteries with high heat capabilities that can be dumped and recover. The batteries provide more than just backup power, the main benefit is isolation from the grid and providing a stable DC reference to the rectification equipment.
Depending on the economics, that can be more than a niche market for them.
The Powerchip potential appears huge if they can get it off the ground, which it seems they are doing.
They need to be large, established and prove the economics of the products before even considering going public.
I would not be anticipating them going public next year or the following year even.
Hopefully in 2020 we will start seeing some news about deployments into commercial products and the grid installations just to get a sense of their progress.
jmho
Bill
I don't have confidence that D'Couto will honor that dividend/interest unless he is pressured by the larger shareholders.
However, since there is no monetary value assigned to our shares as they make the excuse that it is not trading, there are one of 2 paths as I see it.
1)Assigning the same value as they paid for the fractional, this would allow them to claim they honored it and pay a low amount. This is the same price they would be willing to pay for your shares today even after all the progress they have made. They completely ignore the fact that they value the company EXPONENTIALLY higher when they seek investment dollars.
2) Its a 10% interest so they could just give shareholders new stock of the same class at 1/10 ratio. If you have 1000 shares they could give you another 100 shares.
This is not so much a "dividend", the Class A description defines it as interest. They can always choose not to pay a dividend, can they just arbitrarily choose not to pay interest ?
We can always hope that D'Couto will want to take care of himself and friends and pay the Class A shareholders and we can come along for the ride.
jmho
Bill
Yeah, I wouldn't expect anything major from them about the Powerchip in 2019. As you said, it is almost over. We are almost in the Holiday season where nothing gets done.
Since they just settled their patent dispute with the inventor they probably do not have anything in the very near term plan for this.
The Product Road Map shows it as available with the advertised energy densities in 2019, however nothing showing deployments.
They claim the ability to quickly ramp production for the X Powerchip, so maybe it is not an issue that they don't have a plant ready for it yet.
Keep in mind that though they can source a lot of the product for making a Powerchip very quickly, they have to have their own or a partners production line for stacking and packaging into usable batteries.
They appear to be making good progress.
jmho
Bill
Looks like 2 but posted at quite a few job sites.
Bill
Awesome, good to have someone in the area.
Seems like if they are already hiring ,they may have a location in mind, of be in the process of putting said lab together.
Bill
Just go to Google and search for XNRGI battery jobs, they show Battery engineer and Battery Lab Technician.
I guess that means that they will at least have a lab in Milpitas.
Bill
Maybe that's where the Headquarters will finally be located.
The link I posted in my last post showed a Los Angeles, California Headquarters, I wonder if it could be related.
It puts them closer to the Silicon Valley and EV development companies.
The Job description requires someone with hefty qualifications, sounds a lot like what Petrovic used to do. Maybe he didn't want to move.
The new website has some new management listed with their own hefty credentials.
Dr. Saroj Sahu, COO
Serial entrepreneur from Silicon Valley. Experimental Physicist by training. Founded Flow Battery company Deeya Energy, Lithium Battery Systems company Altoo Research, and Indoor Agri company MiraiFlora. Ran operations, R&D and Manufacturing at multiple companies such as Tyco, Santec, Linear Tech, Xerox PARC and Apple. Over 40 US Patents and 50 peer reviewed international journal articles. Co-founded the Physics Experiment BELLE that led to 2008 Nobel Prize in Physics.
They appear to be getting enough stature to attract some heavyweights.
At least it appears that way.
JMHO
Bill
Don't know when they will go public, investors will always want that larger return eventually.
A couple of years ago this micro-penny stock was bankrupt and staying afloat thru heavily diluting share sales. They survived and were funded to be able to send samples to Argonne and with that potential acquire some new investors and this has grown into more investors. The company is barely off of life support and now growing.
People wonder why they can build a battery plant and not be public already, when common sense should tell you that it is the partners/investors who have funded the new plant as a portion of the business plan and if they are not ready to go public the company will not go public.
I posted almost a year ago about the Tie in between Amobi Capital and its created Helios Royal Energy venture and XNRGI. Helios shows their partners on the website and it is a mix of American, Saudi, Chinese investors.
They also have a map showing the Battery Plant in India that went online in Q3 2019. They show a different battery plant to go online in Q2 2020 ( powerchip ? ) in Egypt. They list the different battery products from XNRGI on their website so I am not misinterpreting the relationship with XNRGI.
This company with its investors are in the process of establishing themselves in the industry. Until that is accomplished, we may not hear much. They appear to be executing without the fanfare of PR.
The PR storm will come when they have product out and cannot be stopped.
http://heliosroyalenergy.com/about/
JMHO
Bill
I don't think they are tweaking manufacturing , it seems more like they are tweaking expectations.
One of the things the CEO of Cross Border Power stated in one of the Articles was about the investor interest shifting from the small initial VCs to more established VCs. That is a positive, more money means more production hopefully.
The only true test will be if we ever actually see one of these pink elephants in the real world.
Jmho
Bill
I agree that the claimed energy densities are all over the place.
We have seen them claim 10 times initially, then back down to 6 times the energy density of Lithium Ion.
Then the Cross Border Power articles were claiming 4X but at 1/2 Price.
The new website is down to 2X.
Whoever edits their material doesn't check past claims to stay consistent.
Maybe they are being influenced to under claim or underbuild to keep a deeper profit margin for themselves.
The Amobi chart they had up last year I think was claiming costs for 1GW/hr at 15 million dollars for XNRGI and 200 million for competition. That's a lot less than 1/2 cost.
Were they over claiming then, or under claiming now ?
Still no anecdotes of a high performance lithium metal battery coming out of anywhere. If anybody has tested one and been amazed they have kept it secret.
Jmho
Bill
You have to recognize that there is huge difference between a Family and employee owned supermarket chain that does not want outside investment and thus interference in business and a small Fuel Cell/ Battery company which only exists to this day because of outside investment.
The reason they will go public eventually is because those large investors will want to get paid. One of them even put that in the stock purchase agreement as a caveat.
The company will have to grow to a scale that inhibits a hostile takeover or a hostile smothering. This means being large enough to inhibit a takeover or to make it worthwhile to get taken over. At the very least they need to be worth much more before selling out so that D'Couto and crowd get paid.
As for the videos, they are not really meant for public consumption, they are posted in order to make them available to whoever they are interested in communicating with about XNRGI.
As for the Lithium Metal Powerchip batteries, does anyone really expect a production line less than a month after the Patent Lawsuit was settled ? I think its a positive that they settled the issue quickly and way before the court date, that speaks to a certain urgency that we have never seen before in the NEAH crowd.
Like 2008 says, "enjoy the ride" or don't, it doesn't matter we are all stuck on the ride anyway.
jmho
Bill
Every time XNRGI releases a video it is usually to spur investment.
In this case we have a new video and a new website. They may be trying to catch the big one so that they can upsize the manufacturing to include the Powerchip.
The new website shows the Powerchip as " In Commercialization ", so hopefully that means gathering customer clients and starting a production line.
Many want this back as a public company asap. However, there are asset and valuation requirements that must be met before being able to IPO on Nasdaq or NYSE.
We are almost at the one year of the name change and delisting. In my opinion they seem to have moved forward nicely in the year considering it took 4 months just to get the fractional paid out.
The HQ shown in the graphic is most likely not in India, it definitely does not look like a 45,000 sq ft manufacturing plant.
Hopefully that will be in the US , although the building looks too large for anything they might ever fill with employees. Maybe it shows their level of optimism.
jmho
Bill
They have confirmed it is an XNRGI production line on their new website.
I don't have insight into what is built in India, and you still cannot find any articles referencing this, yet there it is.
Hopefully they have or are developing a production line for the Lithium Metal wafer batteries.
jmho
Bill
With some changes in the Senior Management.
Confirmation of the HT Battery plant in Gurgaon, India. Note that the the video is titled " XNRGI Gurgaon Plant2 " makes me wonder what XNRGI Gurgaon Plant1 is.
I see all of these things as positives, they show the company is moving forward, doing the things we wanted them to do.
1. Licensing out technology - As in License to Cross Border power
2. Manufacturing Batteries - There are two production lines referenced that are in India, there are also Silicon Wafer suppliers in that location.
They are building value into the business and that is what D'Couto has stated that he intended to do. Next step is to start seeing these manufactured batteries installed in devices throughout the globe and hearing about their performance.
JMHO
Bill
You aren't going to get that extra 20 hrs with these batteries.
I think these are the high temp Lithium ion batteries, not the Lithium Metal .
However, at least they are getting in the game and starting out highly automated.
We now know where they have a factory and an HQ.
Jmho
Bill
When you go to save the image , it is named " XNRGI Headquarters "
So...Washington or Oregon ?
Bill
In the company description for the Big 5 Solar show, they were claiming to be a Fuel Cell provider. That was at the end of 2018.
They must not have totally given up on fuel cells.
Bill
I wonder if Petrovic will return as VP of technology or if he is gone and just sued for a percentage of royalties.
I agree about the secrecy being overdone at this point.
Supposedly these batts will be deployed in applications in 2020. Not too far off after all we have waited these years.
I am still wondering where that XNRGI office / lab will be located. Oregon or Washington.
Bill
They did not actually make it to court. Petrovic filed the lawsuit. Then Petrovic filed the dismissal. Court was not due to happen till 2020.
Obviously throwing up a roadblock at a strategic time worked for him. However he had a roadblock to throw up, all we can do is make noise.
The good indicator here is that they were eager to settle the issue quickly, they must have something important happening that motivated them.
This may be gathering steam for deals happening soon.
Jmho
Bill
Looks like he made a deal. The whole lawsuit was probably to get some leverage.
Hopefully now they can move forward.
This is good news.
Bill
I think I have given it " two more weeks " about 200 times.
I'm getting very good at it.
Now when the wife gives me a honey do, I give her a timeline of "two weeks"
Bill
Mine did not show a loss after the reverse since that is just a ratio, however when the stock was exchanged for the class A cusip, then that stock had no known valuation, my account started showing the value as zero.
I still showed a cost basis but no value.
Stock is worth zero now and probably will be the same in a year.
jmho
Bill
Was your account not showing a loss before ?
Mine has always showed that since the last Cusip change when we received the XNRGI contra shares .
My value is $0.00 so the total price paid minus 0 is my loss.
Have you pinged DCouto to find out if they are paying the dividend (interest) on our Class A this year ?
Bill
Price Paid will vary due to everybody buying different lots at different prices. They would have taken your price average And performed the reverse split math, then later the forward split.
My Fidelity was at 13 dollars. My E-Trade is at approx $ 2.50 / sh because that is where I was buying the cheap shares for my average down.
Fidelity average stayed high because it was an old NEAH purchase at higher prices and when they went pink, I was not allowed to buy the stock with that account so no averaging down with that account.
Jmho
Bill
Yeah but it isn't the Lithium Metal battery that is the supposed holy grail of batteries.
While this shows promise for Telecoms, many already use Nicad Batteries for high temp solutions. SAFT is huge in this segment.
Bil
They keep talking about their "secret batteries" so a little different.
https://www.solarpowerinternational.com/attend/see-whos-attending/
Hopefully they work out a deal with " Petrovic " and move forward with commercialization.
jmho
Bill
As I said in the previous post that it was interesting to see the ZoomInfo that showed visitors from major telecoms.
Maybe because they have some changes to the website, under the Products section there is a page for the "Powerchip" and a page for the "High Temp Batteries".
Powerchip has the same vague future descriptions, the High Temp appears to be marketed more actively, maybe because they do not have a patent issue with it.
The High Temp is being marketed towards Telecoms.
It also has a graphic of a Battery Manufacturing facility or testing facility or both, cannot tell from the graphic, however it does say "Opening Soon ".
I wonder what they consider soon. I hope they don't say " Two Weeks "
jmho
Bill
If you like reading comments. Here is a link for you.
https://www.eevblog.com/forum/chat/new-lithium-tech-4x-the-storage/
Bill