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So, does the 1:35 RS mean the float will go down to about 2.68M only?
This could get locked up really quick
Not the 8k I was hoping for
Are we getting that 8K today after hours?
No matter what kind of answer you give he just keeps posting it everyday. I've asked the mod to delete it as a spam/repost numerous time to no avail.
<$1 by Friday
So, based on that it sounds to me that all this "dodge deal" dodge brothers nonsense is centered around Dodge buying 1, yes ONE, as in singular, solo, etc., motoped that Troy threw a "dodge brothers logo" onto that they could use in a commercial that shows how the dodge brothers' business evolved from building motorized bicycles to automobiles.
That's a far far far cry from anything like the "sales and distribution deal" that was claimed to be in the works.
What a joke lol
Well put lol
What channel?
Who is dodge brothers? There is no such company
Thanks for the update!
Sorry but you're wrong. It's the very first bullet...
The salient terms of the Binding Letter of Intent (referred to herein as the “Letter of Intent” or “LOI”) are as follows:
• Within 10 working days of the date of execution of the LOI, LCB shall pay Axion a $250,000 earnest money deposit.
• The parties shall use best efforts to execute comprehensive agreements with respect to the transactions contemplated by the LOI within a 60 day exclusivity period after execution of the LOI.
• The Company has granted LCB an exclusive license for the Technology in the Territory with an up front technology fee of $2 million to be paid in four equal amounts, with the initial $500,000 to be paid on the 45th day after execution of a technology license agreement and subsequent $500,000 payments to be made on each of the on the first, second and third six month anniversaries of the date of execution of the technology license agreement.
• Upon commercialization of the Products, LCB shall pay the Company a royalty equal to 2% of the gross receipts of sales from such Products in the Territory, with a minimum annual royalty of $1 million by year three, and a per year increase in such minimum of 10%, which minimum annual royalty shall be capped at $2 million during the license term.
• LCB shall also purchase $4 million of preferred stock from the Company within 45 days of the execution of the comprehensive agreements. LCB shall initially purchase up to $1 million of preferred stock from the Company unless and until the Company obtains shareholder approval for the purchase of the balance of the preferred stock (with the balance of the preferred stock to be purchased within 10 days of the date of receipt of such shareholder approval), and in the aggregate, LCB shall only purchase securities convertible and exercisable into a maximum of 19.9% of the issued and outstanding common stock of the Company on that date of consummation of the transaction. The terms of the Preferred Stock are as follows:
• Issuance of two million convertible senior preferred shares (Preferred) at $2 par value per share. The convertibility is subject to shareholder approval.
• Dividends on preferred stock shall accrue at the rate of 4.0% per annum.
• Preferred holders may convert all or portion to common stock at the Conversion Price defined below at any time after ninety days of the purchase date thereof.
• The Conversion Price of the Preferred is 120% of the VWAP (volume weighted average price) of the Company’s common stock of the twenty trading days immediately prior to the execution of the LOI.
• Preferred shares shall vote on with the holders of common stock on an as-converted basis. The prior approval of the preferred shares, as a single class, shall be required for a sale of all or substantially all of the Company's assets and / or any issuance of securities, convertible debt equivalent to more than 8% of the then issued and outstanding shares of common stock. This approval right shall cease when the total number of unconverted preferred shares is less than one million.
• Axion shall have a right to redeem the preferred stock at a price equal to the original issue price per share plus accrued dividends after the second anniversary of the issuance with a 30 day prior written notice to LCB.
• LCB shall be granted registration rights for the preferred stock on terms to be negotiated between the parties.
• Axion shall grant LCB a warrant to purchase $2 million of its common stock at an exercise price of $.10 per share with an 18 month term and a warrant to purchase $8 million of its common stock at an exercise price of $.50 per share with a four year term from the date of the execution of the comprehensive agreements. Such warrants are based on the full purchase of two million shares of preferred stock by LCB.
• LCB shall also purchase a $4 million principal amount senior convertible note from the Company within three months of the day of execution of the comprehensive agreements (with an initial purchase of up to $1 million until shareholder approval is obtained). The terms of the note are as follows:
• The note shall have a four year term, and accrue interest at the rate of 5% per annum during the note term.
• The use of proceeds shall be $2 million for capital expenditures for the Company’s “Gen IV” production line, $0.5 million for carbon electrode R&D, and $1.5 million for Company operations.
• After the first year of the note term, the note may be converted into shares of the Company’s common stock as follows: 50% at the end of the first year, and the balance after the second year of the term. The conversion price is set at 130% of the VWAP (volume weighted average price) of AXPW stock over the twenty trading days prior to the execution date of the LOI.
• After the third anniversary of the date of issuance of the note, the Company may prepay all or part of the note upon at least 60 days prior written notice to lender.
• Upon the occurrence of a change in control, the lender may, at its option, cause the note to be converted into the Company’s common stock or cause the note to be paid in full.
• The Company’s obligations under the note are secured by a first priority lien on all of the Company’s intellectual property rights and capital assets used for the production of carbon electrodes.
• The prior approval of the noteholder is required for a sale of all or substantially all of the Company’s assets and /or issuance of any securities equivalent to more than 8% of the Company’s then issued and outstanding shares of common stock, as well as to license its intellectual property rights of carbon electrodes, exclusive commercial licenses and more than one license to manufacture PbC batteries outside of the Territory.
• LCB shall be responsible for identifying and securing battery manufacture in the Territory, and LCB is prohibited directly or indirectly from exporting, marketing, licensing or otherwise conveying the Technology or Products outside of the Territory subject to limited exceptions.
• LCB shall set up a Sino-US Joint Venture (“CJV”) within the Territory within six months of the date of execution of the comprehensive agreements to be owned 90% by LCB and 10% by the Company, with the opportunity for the Company to increase its equity interest up to 25% upon terms agreed upon by the parties. LCB shall be responsible for funding the operations of the CJV in an amount up to $20 million in cash.
• The term of the technology license agreement shall be the latter of 15 years from the date of execution and the latest expiration date of any patent licenses by the LOI.
• LCB shall have the right to nominate a director and an observer to the Axion Board of Directors after execution of the comprehensive agreements.
• The LOI delineates certain break up fees and license rights in the event that the parties do not enter into comprehensive agreements within the 60 day exclusivity period.
• The issuance of all securities as contemplated by the LOI, in excess of 19.9% of the Company’s issued and outstanding common stock, shall be subject to shareholder approval in compliance with NASDAQ Rule 5635. The parties acknowledge that all amounts of securities and related prices are “pre-split” with respect to the Company’s contemplated reverse stock split.
Never cheaper? That is highly unlikely based on this tickers track record
The filing stated that AXPW would receive $250k within 10 business days of executing the LOI. That is the filing that is expected anytime...
Coal is produced in plants? I thought it was mined from the earth and the burned in plants to produce electricity? (In the case of coal for energy, coal for steel is a different story)
I believe this ruling is all about coal burning power plants and will have little to no affect on coal for steel companies like WLT
Back to the: coal for energy or coal for steel? I think today's court ruling affects coal for energy not coal for steel.
8K after hours
Tightening their belt here seems like it would be a more prudent course of action rather than hoping for more revenue
I knew we hated it for energy but do we hate it for steel production too?? Lol
Some changes definitely need to happen with the CS here but I'd say this is a huge over correction. I mean, the cap is $17M and the my had $290M in revenue Q1
Why would a cease and desist against IR affect mtvx shares when it's dragonox that holds them??
Lol that's not nearly the only thing that makes it easy to speculate negativity with this turd
Definitely closing green today
That's support at .12 still holding strong
Shorts are in full on desperation mode
Liking the consolidation around .13 this morning. We're forming a good base here
News tomorrow??
Yeah, remove ir from the equation and the OS would be 9B instead of 12B
Yeah, for retail traders...mm's have no need to actually borrow shares when they can create supply and or demand out of thin air and get away with it as long as it's settled the same day
IR was only part of the reason MTVX's OS has become so bloated....billions of shares have been converted and dumped by other toxic lenders.
Hell, didn't they issue a convertible note for a measly $45K? At .0001 that's nearly half a billion shares...
Wouldn't it be nice if we could, as retail investors, just keep buying our own naked short sales to cover our own naked short sales? Hmmm....
The fact that IR is finally being investigated for their rule 3 abuse will not have any positive effects on MTVX's pps unless they are forced to forfeit/return any MTVX shares that they are still in possession of. Sadly, I don't see this happening due to the fact that they were all transferred to dragonox. I think IR foresaw this action coming, hence the transfer to dragon.
Now, dragon could get tied into this action or have a separate action filed against them that could lead to shares being returned to MTVX. If this happens and the company announced that they will be retired from the OS it could boost the pps...maybe enough to get out of the no bid death spiral, but it won't be anything big or a sustained lift. Any lift will be minor and short lived, as the IR was only part of MTVX's dilution problem...the OS has been diluted by billions of shares by every other toxic financier in the biz...
Like seriously, it's comical
Shorts are in full on desperation mode
Where is direct edge's big naked wall?? Lol
It was only for 3,086 shares....if it had another comma or 2 I'd say you could be right
8PM Eastern
Back to .15 AH
Can't close green everyday. It's clear that the market has some confidence in AXPW though, as its holding up nearly 300% since last Monday
Because of direct edges 422K naked wall?
So much effort to keep it down
A naked wall at that