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http://emcgazette.com/robert-kasprzak-candidate-for-th-district-judge-p3509-194.htm
That break was short-lived however, as I was approached in September of 2014 to accept an engagement as the Chief Restructuring Officer/Managing Officer of Lithium Technology Corporation, a Virginia-based publicly-traded company with assets consisting predominately of a German-based lithium battery manufacturer, in a Chapter 11 bankruptcy proceeding in the Eastern District of Virginia. I agreed and was duly appointed by the bankruptcy court in November of 2014. As CRO/MO, my duties primary involved operational management and decision making for the company, governance and proper reporting to the bankruptcy court and the Securities Exchange Commission, negotiation with the debtor-in-possession financier, negotiation and responsibility on behalf of, and in the best interests of, the company’s creditors and equity holders in the structure and design of the restructuring plan, and litigation coordination and strategy planning with the company’s bankruptcy counsel. Ultimately, the reorganization plan was not successfully implemented, and the debtor-in-possession funding was discontinued, so the court converted the bankruptcy proceeding from a Chapter 11 reorganization to a Chapter 7 liquidation in June of 2015, and, when the Chapter 7 trustee was thereafter appointed, my role was rendered moot.
Here is another way to ping Monbat w/ questions, selecting a specific office (i.e. EAS Germany or other Monbat Germany offices)
https://www.monbatgroup.com/en/our-identity/contacts
Perhaps concerns about Monbat acquisition of LTC IP could be answered by:
investorrelations@monbat.com (Daniella Peeva)
https://www.monbatgroup.com/en/investors/ir-contacts
https://www.insidestellar.co/e/inside-stellar-with-nitin-gaur/
IBM World Wire update with Stellar
http://hitechnewsdaily.com/2020/01/global-lithium-iron-phosphate-battery-market-is-anticipated-to-grow-at-cagr-of-5-by-2026-2/
The key players profiled in this report include:
BYD (China)
A123 Systems (US)
K2 Energy (US)
Electric Vehicle Power System Technology (China)
OptimumNano Energy (China)
Contemporary Amperex Technology (China)
Victron Energy B.V.
China Sun Group
Valence Technology
Lithium Technology Corporation
???
Is biogen looking at Promis Neurosciences PMN310? Similar product, but better specificity and binding affinity than aducanumab. I haven't found comparative studies vs BAN2401, but their website claims lower ARIA-E effects (so you could dose higher and more efficiently). They claim they will start PhI in 2020... we'll see.
The company is tiny, publicly traded, market cap of only $34M. Biogen's stock went up about $15B on marginal PhII aducanumab results, if I recall.
US ticker is ARFXF
https://promisneurosciences.com/
Any dd appreciated, thx.
licensing revenue from or sale of DILO patents for production of large format lithium ion batteries, if I had to guess.
phoenix from the ashes this one may be. I wonder who is buying.
https://www.linkedin.com/company/eas-batteries-gmbh
GAIA Akkumulatorenwerke GmbH (“Gaia”) was set up in 1996 and is one of the leading companies in Germany for the lithium ion technology, specializing in large format cells and batteries. Gaia became known for its ability to deliver high performance customized solutions for a wide range of applications. The company began manufacturing cells and batteries in 2004 for applications that demanded an electrical high-energy or a high-power source.
EAS Germany GmbH (“EAS”) was formed in 2011 via a Joint Venture between Gaia and Enersys/ Hawker GmbH. The company focused on cell production and technology development on very high quality, large cylindrical and high power cells for hybrid electric drive trains, heavy duty industrials and defence applications.
Monbat has acquired 100% of all tangible and intangible assets of both Gaia and EAS and has merged both entities into the EAS Batteries GmbH based in Nordhausen. Monbat will be able to capitalise on the existing experience and expertise in the lithium ion field of both merged entities and will focus on upscaling the existing production capacity and commercializing newly developed cell technologies. This acquisition will bring additional diversification to the Monbat and marks the entry into the lithium ion business which is one of the enabling technologies for the decarbonisation of stationary and mobile energy demands. It further allows a new market presence in the high-power battery systems solutions, based on safe and proven LFP cell chemistry, which is a unique technology approach adopted by only one other big player globally. This technology can address many niche high power applications and meet the very high requirements for reliability and safety, which many applications demand in areas such as aerospace, defence, marine and public transportation.
Monbat is committed to modernise the current premises in Nordhausen, to grow the whole business
and to further expand its sales in Germany and neighbouring countries. It plans to invest over EUR 5
million in the next two years into new and modern machinery as well as to expand the workforce. The
designated Managing Director of EAS Batteries GmbH, Michael Deutmeyer, commented as follows:
“Monbat brings the financial stability and ability to investment in state-of-the-art manufacturing that
EAS needs to become competitive whilst increasing product quality and production capacity. The team
at Nordhausen has over twenty years of manufacturing experience in large-format lithium ion cells
which is unparalleled in Europe. Monbat has a lot of experience working in highly commoditised
markets as well as in mass production of high quality lead acid batteries. Combining these two skill sets
is an ideal basis for executing the new business development plan. The EAS team is immensely grateful
for this new chance as well as the trust shown in its capabilities and is highly motivated to convert the
new investments into commercial success!”
The Chairman and CEO of Monbat, Atanas Bobokov, stated the following: “This acquisition marks the
entry of Monbat into the German market and commitment to a potentially world changing technology.
In the last two years, we have analysed many opportunities for further growth of our group but the
combination of the former Gaia and EAS companies was unique as was the knowledge of the local
team. Monbat will simply do the rights things – we will revitalise and merge these two companies into
one complete business from a technology, production, and sales pipeline point of view. We will grow
the business and develop new products that will be unique quality wise. We will build new state of the
art facilities that will enable us to produce these new products in large quantities for the benefit of all
stakeholders. So, “EAS Batteries” will be a source of power for Monbat too and we are all exciting to
start working!
Background from previous 2006 financial report... not complicated at all... ha.
We combined the operations of LTC with GAIA, a private lithium polymer battery company headquartered in Nordhausen, Germany, in a share exchange in 2002. In the share exchange Lithium Technology Corporation acquired a 100% interest in GAIA through the acquisition of 100% of the outstanding shares of GAIA Holding B.V., a Netherlands holding company. Subsequent to the share exchange, Arch Hill Capital, NV controls us. Lithium Technology Corporation, GAIA Akkumulatorenwerke GmbH, GAIA Holding B.V. and all of the subsidiaries of Lithium Technology Corporation, GAIA Akkumulatorenwerke GmbH, GAIA Holding B.V are collectively referred to herein as the “Company”, “we” or “us”.
Arch Hill Capital N.V., a private company limited by shares incorporated under the laws of the Netherlands, controls Arch Hill Ventures. In November 2004, Arch Hill Capital and Arch Hill Ventures transferred all LTC securities owned by such entities to Stichting Gemeenschappelijk Bezit GAIA (“Stichting GAIA”) and Stichting Gemeenschappelijk Bezit LTC (“Stichting LTC”). Stichting LTC is controlled by Arch Hill Capital.
LTC is a Delaware corporation that was incorporated on December 28, 1995. LTC’s predecessor-Lithium Technology Corporation (a Nevada corporation previously named Hope Technologies, Inc.)-merged with and into LTC in a reincorporation merger that became effective on February 8, 1996. The executive office of LTC is located at 5115 Campus Drive, Plymouth Meeting, Pennsylvania 19462, telephone number: (610) 940-6090.
LTC holds 100% of the outstanding shares of GAIA Holding B.V., a Netherlands holding company. GAIA Holding is a private limited liability company incorporated under the laws of the Netherlands on February 2, 1990, with a statutory seat at the Hague (the Netherlands) and office address at Parkweg 2, 2585 JJ, the Hague, the Netherlands.
GAIA Holding is the legal and beneficial owner of all of the issued and outstanding shares of Lithiontech B.V., a Netherlands company limited by shares that was formed on February 8, 1999. Lithiontech has the legal and beneficial ownership of all the issued and outstanding shares of DILO Trading AG, a Switzerland company limited by shares that was formed on September 11, 1975 and Lithiontech Licensing B.V., a Netherlands company limited by shares that was formed on February 8, 1999. DILO Trading holds patents for which the intellectual property was developed by DILO Trading in collaboration with GAIA. GAIA holds a worldwide, exclusive license for all these patents.
GAIA Holding is the beneficial owner of all of the issued and outstanding shares of GAIA. Legal ownership of the outstanding shares of GAIA are held pursuant to certain Dutch and German trust agreements by two Netherlands entities ( “Nominal Stockholder”) for the risk and account of GAIA Holding. Based on the Dutch and the German trust agreements, the Nominal Stockholders are obliged to transfer the legal ownership of the shares in GAIA without any further payments to GAIA Holding to a third party designated by GAIA Holding on the demand of GAIA Holding. Pursuant to the trust agreements, GAIA Holding has the right to vote the shares of GAIA held by the Nominal Stockholders.
LTC and GAIA Holding, Arch Hill Ventures and the Nominal Stockholders are parties to an agreement which provides that without LTC’s prior written consent, GAIA Holding may not directly or indirectly transfer or instruct any party to transfer the legal ownership of the shares of GAIA held by the Nominal Stockholders to any party other than to GAIA Holding and that upon LTC’s written direction, GAIA Holding will instruct the Nominal Stockholders to transfer the legal ownership of the shares of GAIA held by the Nominal Stockholders to GAIA Holding for no payment. The agreement further provides that at such time as the parties determine that there would no longer be any possible adverse tax effect as a result of the transfer of the GAIA shares to GAIA Holding, then the legal ownership of the GAIA shares held by the Nominal Stockholders shall be transferred to GAIA Holding without any payment.
GAIA is a private limited liability company organized under German law on April 4, 1996. GAIA is located at Montaniastrasse 17, D-99734 Nordhausen/Thuringia, Germany, telephone number: 011 49 3631 616 70.
LTC holds 100% of the outstanding shares of Lithion Corporation, a Pennsylvania corporation that was incorporated on June 3, 1988.
https://www.sec.gov/Archives/edgar/data/804154/000119312508023979/d10ksb.htm
https://www.americanlegal.com/download-document/162401
Filed 07/13/15
Assets Value Status
...
100% interest in Gaia Holding BV Unknown Unchanged
Accounts Receivable – Schaeffler Unknown Unchanged
Accounts Receivable – Dilo Trading, AG Unknown Unchanged
Accounts Receivable – Gaia Holding, BV Unknown Unchanged
Accounts Receivable – Gaia Akku Unknown Unchanged
Unknown Unchanged
...
This is an interesting document. Lots of unknown valuations. I'm guessing these were all tied up in previous legal disputes on what LTC owns.
Hag, I know you've been tracking this all in detail. I was just doing some background reading relative to your comments below about how this might all pan out with a payoff to shareholders. Depending on the value of Gaia Holding I presume. What would those accounts receivable lines be related to... licensing agreements?
http://www.gaia-akku.com/
most of the site written in german. conpyright as of 2019. LTC still referenced in some places... ?
Expanding into new markets – serving existing markets
The product portfolio is designed to serve niche markets, as well as provide a platform to launch new products in high-tech markets.
GAIA/LTC lithium-ion batteries are especially suitable for the automotive industry, and have been used successfully in a wide range of vehicle types from hybrid cars and trucks to vehicles powered solely by electricity. The company cooperates closely with major car manufacturers and their suppliers, as well as with research organizations and universities.
GAIA’s/LTC’s goal is to expand applications in the transportation field. This includes transportation by road, in the air and on and under water. A unique example of our capabilities is the first solar ship to circumnavigate the world ‘PlanetSolar Tûranor’, which uses our batteries.
Based on 20 years of experience with large size lithium-ion batteries, we have developed leading technological capabilities in cell production and battery assembly. This expertise establishes a solid foundation to ensure success in the implementation and rollout of your product.
Thanks for getting me back up to speed! This process has been purposefully non-transparent, imo. Thanks for all you do to provide due diligence and hold the company 'associates' accountable to the investors in LTHU. Hopefully some sort of settlement is reached.
Have a wonderful holiday season.
https://www.greencarcongress.com/2019/01/20190125-bmbf.html
The German Federal Ministry of Education and Research (BMBF) has launched the Battery Cell Research Production Center, a new R&D and large-scale industrial manufacturing plant for lithium-ion cells; the center will receive an investment of €500 million.
The location of the new facility is to be selected by mid-2019, after which the construction phase will begin. Six German cell manufacturers have already pledged their support for the establishment and operation of research production: Leclanché, BMZ Group/ Terra E, Customcells, EAS and Liacon.
The center is part of a strategic drive to develop a German-based mass production of lithium-ion cells necessary to meet the demands of the electrification of transport and storage systems.
The objective of the facility is to act as an enabler for the development of mass industrial production based on state-of-the-art cell chemistry and cell design. The ultimate goal is building a European-based industry capable of minimizing dependence on Asian battery manufacturers.
The new center unites all previous promotion measures and programs for battery research under one roof and builds on existing competencies. The funding is bundled, realigned and coordinated in three modules: material; cells and processes; and battery cell production.
As the largest cell manufacturer within the Consortium, Leclanché will be playing a leading role by bringing industrial-scale cell manufacturing know-how.
Leclanché announced in December 2018 that it would triple current factory capacity to more than 3 million cells per year, or 1 GWh per year by 2020. The production of its proprietary cells, Lithium Titanate Oxide (LT)) and Lithium Graphite/NMC, is based in Willstätt, Germany—currently the largest lithium-ion pouch cell production facility in Europe operating since 2012 with a capacity of more than 1 million cells.
The ramp-up of cell production comes on the back of significant orders in the e-transport sector including e-buses, 2-3 wheelers, and electric vehicles in India and Europe, and major breakthroughs in the marine sector with orders exceeding 45 MWh. Leclanché recently achieved the milestone of 100 MWh of projects around the world.
The BMZ Group is a global player in the production of lithium-ion system solutions. The group is headquartered in Germany and has production facilities in China, Poland and the USA as well as subsidiaries in Japan and France. In addition, there are research and development locations worldwide. Around 3,000 employees work for the BMZ Group worldwide.
Customcells is a worldwide operating high-tech company that develops and produces battery electrodes, lithium-ion battery cells and energy storage systems. Technology development, cell design and production are carried out on a small- and medium-scale.
EAS Batteries GmbH has been producing large-format lithium-ion cells and lithium-ion batteries at its Nordhausen site for more than 20 years. The EAS technology is characterized by above-average power densities and is mainly used in hybrid electrical applications. The high safety and performance of the EAS systems are particularly sought after in the fields of shipping, construction machinery, rail vehicles and mining vehicles as well as in the aerospace industry. Since 2017, EAS Batteries has been part of the MONBAT Group, the third largest battery manufacturer in the world.
Liacon GmbH is currently setting up a lithium-ion cell production facility near Dresden, in Ottendorf-Okrilla, with a production capacity of up to 300 MWh per year. Production will start in the first half of 2019. In addition, the company maintains a research and development group in Itzehoe.
guess it is not really a secret, just frustrating to dig through all this again.
https://www.linkedin.com/company/eas-batteries-gmbh
I was googling Klaus Brandt just to see where he ended up.
upcoming presentation as an 'independent consultant'
multiple sites indicate connection to EAS
made me recall this old gem
"EnerSys to launch a lithium-ion battery joint venture in Germany" which was announced in 2011 https://www.utilityproducts.com/home/article/16009761/enersys-to-launch-a-lithiumion-battery-joint-venture-in-germany
then I found this odd statement about EAS
"EAS Batteries GmbH has been producing large-format lithium-ion cells and lithium-ion batteries at its Nordhausen site for more than 20 years."
at https://www.greencarcongress.com/2019/01/20190125-bmbf.html published last January
Don't they mean Gaia Akku.? ???
very interesting. thanks for sharing your theories and due diligence. glad someone is keeping watch around here!
best
Hello Hag,
This one popped up on my radar. I had pretty much written it off (but still sitting on 200,000 shares). Sad to endure while the surrounding industry was booming. Hopefully a phoenix arises from the ashes.
In any case, cheers to you and yours.
Ditto... hope everyone is hanging in there or better... this one was an expensive lesson for me
http://www.genewedwards.com/blog
ProMIS featured in this blog
25 billion buyback ought to be good for a 10 percent pop or so
Plus dividend boost
Plus revenue beat
$46 by Friday?
In digging through filings last year via the link on the Promis website investors page, I did not see a quarterly voluntary filing for Feb 2017 but did see an annual financial report in mid march
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00022789
Yet another minus 1 for newsletter man
I’m still along for the ride
any word on quarterly financial filing date? I would guess sometime this week but have not seen any statements to confirm
Earnings week
I emailed the company info to Amgen’s vp of biz dev. Amgen has one of the largest stockpiles of overseas cash being repatriated.
Great insights, thank you. It would be truly great for humanity if this venture succeeds. Hopefully I’ll thank agora someday, through slightly gritted teeth;). Best of luck to you.
My guess is that the facts were portrayed as recent for added excitement but the backstory is much longer.
In any case, the company basically got accused of leaking insider information and had to publicly state that this is not the case.
Regarding newsletter man’s announcement prediction for 14 Feb, I suspect it was predicated on the insider buying one year prior, moreso than the quarterly earnings date.
All that said, this is an interesting company with apparently great technology. Pre phase 1, though, means still a good amount of risk and time to market in most cases. If the product continues proving highly effective, and newsletter man’s accelerated approval prediction plays out, then he may be on to something.
I’m going to hazard a wag that the advertised intimate telecon with the doc on the eve of the announcement definitely will not happen. Leave it to the unscrupulous investing marketers to hijack a man’s brilliant career and make it appear like he is leaking info on the eve of his breakthrough. Agora should write a public apology.
I’m not saying it is bad investment advice... just terribly and recklessly presented.
Did anyone else notice the difference between dr. Neil’s photo in the newsletter versus a google image search of his photo?
Seems that the newsletter photo was taken a while ago, or this guy discovered anti aging secret formula too.
That inconsistency did not seem to line up with the storyline
As I read the newsletter, the date is based on their quarterly earnings report schedule, and author admits that might not be the date of any potential announcements
Newsletter was a bit over the top but certainly interesting
Given that phase 1 has not even begun, it is hard to fathom the market responding in the manner that the newsletter predicts.. I won’t be on the sidelines for this one though... seems like a bet worth taking for me. Momo alone could have one riding freebies soon. All upside from there.
Time will tell.
Glad to hear it and good luck!
I am looking for potential opportunities around earnings reports, particularly for companies like Cisco due to potential buyback announcements. I will probably buy short term calls right before earnings calls. I’ll post on option millionaire’s board as I buy. Take care.
I guess 800% in two months will have to do;). If you did better, well played.
Cheers.
On to the earnings report.
AAPL announces repatriation plan. Will Cisco follow suit?
https://www.cnbc.com/2018/01/17/it-looks-like-apple-is-bringing-back-home-nearly-all-of-its-250-billion-foreign-cash.html?recirc=taboolainternal
In the money! Seems like we were moving in lockstep with msft and ntap today... thank you tech bulls.
Cut 15 % of my 41c’s at .35 today, riding freebies from here...
I’ll probably take some profits in the morning, but will be watching Nasdaq futures closely and will probably hold a good chunk til Friday.
Deal or no deal? What is in the case Howie?
Good luck! I was hoping we’d be higher, but I guess that means some potential call opportunities near the 14 feb earnings report if PPS plateaus or breaks downward for a bit.
The case for CSCO
Near term 10% pop expected...
https://www.thestreet.com/story/14444621/1/three-reasons-to-buy-cisco-stock-before-it-explodes-10-percent-higher-or-more.html
Price target raised from 37 to 46...
https://www.cnbc.com/2018/01/05/cisco-hits-highest-level-in-almost-17-years-after-bank-of-america-upgrade.html
CSCO CFO on tax reform impact "...where we have opportunity is really to get much more aggressive than we have been on the share buyback... "
https://www.fool.com/earnings/call-transcripts/2017/11/16/cisco-systems-csco-q1-2018-earnings-conference-cal.aspx
Cisco has largest stockpile of overseas cash (relative to market cap) to put towards above referenced buyback plan
https://www.cnbc.com/2017/09/26/goldman-these-companies-are-headed-for-a-big-tax-break-on-overseas-cash.html
I am hopeful that the stock will keep going up. After hours Friday it went up to 40.94.
It seems possible that they are already buying back shares. I reviewed their last quarterly earnings slides and found a note indicating they had $10 billion still authorized for future buybacks by at end of Q1, which I believe was 30 sep. That might explain why no announcement of a larger buyback yet, or it may just be taking a while for them to determine the correct tax withholding for repatriated funds.
I would guess they did not buy back much in Q2 due to tax reform uncertainty. Hopefully what we observed Friday and in some of the previous runs up was a combo of buybacks, market interest increasing due to analysts increasing price targets to $44-46, and associated strong hands from longs.
My strategy for this week is to sell enough to cover my total investment after taxes on Tuesday morning if futures are up, which would be about 15% of my call options at the current price. After that, we’ll see... probably an incremental price step sale approach to increase chances of taking some profits. I have a day job, so I’ll need to automate this each night.
Good day indeed! And on pretty average volume too... Hopefully the momo keeps going into next week.
Honestly, I thought we'd be at this level two weeks ago, but things have not quite transpired according to expectation.
I'm really kicking myself for not loading up on NTAP at the same time. 55c on NTAP were available at 5 cents in mid Nov... wish I'd bought 400 instead of 40, most of which I sold way too early. That stock has been absolutely on fire since. Hopefully Cisco follows suit next week.
Cheers.
Buying frenzy this morning got us through China treasury news... hopefully we see the same tomorrow and broader market support
Hope remains
Yeah, Cramer kind of goes with the wind... a couple more real analyst upgrades though which is great... need those institutional investors and funds to move this stock along