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The is only my opinion but KULR's CEO has hinted at converting developmental stage work into volume production customers in 2020 and 2021 in past quarterly earning recaps. Also, the Company acknowledged that Covid-19 led to delays with a number of their product development engagements, which I assume, at least in part, was the reason for pushing back timetables. This coupled with the Company's recent indications to up list to a senior exchange in Q1 2021 leads me to believe that significant development(s) on the commercialization front could occur in this timeframe along with an investment round to satisfy the shareholder equity requirement for up listing. Lets see how this unfolds...
**Disclosure: This information does not constitute an offer to sell or a solicitation of offers to buy any securities of KULR. As moderator of this board it is my duty to disclose to you that my family has invested in KULR and that I'm personally acting as a consultant for KULR and have been compensated in shares for that role. I'm not a licensed financial professional. I have performed extensive research on the Company and believe KULR has real potential to displace conventional thermal management or "cooling" solutions for the electronics and battery industries. This is my opinion and you should always perform your own complete due diligence before making any investment decision. There is obviously risk of loss when buying or selling securities and generally even greater risk associated with buying or selling micro-cap stocks. Some real challenges faced by micro-cap companies include raising capital, increasing liquidity, attracting institutional investors, gaining analyst coverage, and general mistrust of the micro-cap market. Micro-cap companies also tend to lack in resources and often struggle to commercialize their products or services in a meaningful way.
Agreed. Much more than the EV industry too. The energy storage industry (stationary energy storage modules) is also in need of much improved battery safety:
https://www.greentechmedia.com/articles/read/aps-battery-fire-explosion-safety-lithium-mcmicken-fluence
KULR announced last year they are partnering with Volta to provide TRS technology for utility level energy storage.
Finally, KULR does more than thermal management for batteries. They have products that extend beyond their PPR/TRS solutions. The Company also provides thermal management solutions for electronics cooling in general. For example, hopefully the Company can commercialize with the Tier-1 power tool manufacturer they partnered with last year.
Yes indeed!
Today it looks like we're going to break the all-time daily trading volume high of 632,271 shares set on 9/18/20.
From Mars To Your Hands: KULR Is Making Electronics Cooler And Safer
Silvia Munoz Campo December 28, 2020 10:11am 4 min read
KULR Technology Group, Inc. was one of the sponsors for the Benzinga Global Small Cap Conference that took place on December 8-9, 2020.
We’ve all held battery-powered devices in our hands and know that they can get really hot when we overuse them. When batteries overheat they can catch fire, explode, or at a minimum reduce system performance and reliability. This creates a growing need for efficient thermal management in the battery safety and electronics industries.
According to data released by the Federal Aviation Administration (FAA), since 2017, lithium battery incidents involving smoke, fire, extreme heat, or explosions occur an average of once every eight days on planes or in airports. So it is essential to provide new safety solutions that can prevent future incidents as society continues its rapid adoption of rechargeable batteries.
KULR Technology Group, Inc. KULR 45.16% develops, manufactures, and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. The company is taking its space-proven solutions for electronics and lithium-ion batteries to serve the world of electric transportation, energy storage, battery safety, 5G infrastructure, cloud computing, aerospace, and defense applications.
NASA & KULR: Technology Proven In Space
Thermal management for aerospace and defense applications are mission-critical, particularly with space electronics exposed to severe shock, vibration, and extreme temperature swings throughout flight operation.
KULR’s core technology is a carbon fiber material that provides superior thermal conductivity and heat dissipation properties in an ultra-lightweight compliant material.
In fact, KULR’s technology has its beginnings in the space industry with over 30 contracts with NASA, including providing thermal management solutions that were used in the Mars 2020 Rover, Mercury Messenger, and classified government projects.
The company’s proven technologies can be seen with the engagement of Tier-1 aerospace operators, including Boeing Co. BA 0.13%, Lockheed Martin Corp. LMT 1%, Leidos Holdings, Inc. LDOS 0.57%, and Ball Corporation BLL 0.09%, among other companies.
Making 5G Technologies Safer & More Reliable
All this need for remote connectivity has resulted in a more significant need for cost-effective safety solutions when relying on 5G communication and cloud computing. Since everything is now handled in our home office or through our handheld devices, the need for improved, cost-effective cooling solutions is even more important. KULR enables leading aerospace, electronics, energy storage, 5G technology, and electric vehicle manufacturers to create cooler, lighter, and safer products for the consumer. The company collaborates with top companies in 5G and cloud computing to develop solutions that maximize performance and safety.
Phase Change Materials
KULR has different proven technologies to transform the E-Mobility, consumer electronics, and aerospace industries. These technologies include Thermal Interface Materials, HYDRA Thermal Runaway Shields, URSA Fiber Thermal Interface Materials, LYRA Internal Short Circuit Trigger Cells, and ARA Thermal Capacitors with PCM heat sink.
The ARA is a carbon fiber-infused heat sink utilizing phase change materials (PCM) to absorb or provide heat. It successfully reduces system temperature excursions and extends both the life of key components in your product as well as overall operating times. Due to its low mass, it saves on weight and volume by reducing or eliminating the need for active cooling.
Electrical Vehicles
Recently, KULR partnered with Drako Motors for their electric supercar. The Drako GTE will integrate KULR’s FTI Thermal Interface Material within its thermal management system.
In addition, the company’s technology can help with compliance and safety within the EV sector for companies like Tesla Inc’s TSLA 0.93%, Arcimoto FUV 7.46%, Nio NIO 2.22%, and General Electric GE 0.7%, among others.
Looking Ahead
Recently, the Consumer Product Safety Commission reported that KULR’s design solutions can stop fires and explosions in lithium-ion battery packs and provides additional insights on the future of safe battery technology. In fact, the worldwide lithium-ion battery market will exceed $100 billion by 2024, growing at an 18% CAGR.
"From our beginnings as a component supplier, KULR is evolving into an integrated design and testing services provider today," said Michael Mo, CEO of KULR. "Ultimately, by leveraging our thermal design expertise and intellectual property, we envision KULR to provide total systems solutions for the directed energy, hypersonic vehicle thermal systems, energy storage, and lithium-ion battery recycling markets, and develop market-leading products that KULR will take to market directly. We believe that by doing so, we will be able to create more value for our shareholders while making the world of batteries and electronics cooler, lighter, and safer.”
KULR recently announced research and design partnerships with a number of commercial partners: the super-EV, a separate Tier-1 automaker, a major power tool manufacturer, a large medical device manufacturer, a shipping container maker, as well as various defense and aerospace engagements.
"We are taking steps to meet the requirements to up-list KULR stock, currently trading on the OTC Markets, to a national securities exchange. We believe that moving to a national exchange will help increase investor awareness, broaden KULR's institutional shareholder base, and provide shareholders better liquidity,” said Michael Mo, CEO of KULR. “ This will put KULR in a strong position to execute on its goals and vision in the coming months and years, especially as the markets anticipate an increased focus on clean energy and decarbonization."
Source: https://www.benzinga.com/news/20/12/18939009/from-mars-to-your-hands-kulr-is-making-electronics-cooler-and-safer
A Tesla Model S erupted ‘like a flamethrower.’ It renewed old safety concerns about the trailblazing sedans.
One firefighter told the driver he was lucky he got out when he did, after the car’s motorized door handles retracted
By Faiz Siddiqui
Dec. 28, 2020 at 5:00 a.m. PST
Go to for article: https://www.washingtonpost.com/technology/2020/12/28/tesla-battery-fire/
News of a significant commercial partner(s) and/or major government related work would be great catalysts for growth, investor interest, and the stock price. Up listing to a senior exchange will be a godsend. KULR has pointed to all of these things transpiring in 2021.
There is no question about the viability of the Company's technologies, most recently validated by the Consumer Product Safety Commission's report on emerging energy storage technologies for consumer applications. However, KULR needs to show meaningful progress and prove that their technologies have real commercial viability beyond testing and specific space/NASA applications. I believe such news may happen in Q1/Q2 of 2021 given the advanced stages of product development KULR is likely to be in with potential customers as indicated by management's commentary over the past two quarters.
Merry Christmas and happy holidays SF, Badge, and all.
**Disclosure: This information does not constitute an offer to sell or a solicitation of offers to buy any securities of KULR. As moderator of this board it is my duty to disclose to you that my family has invested in KULR and that I'm personally acting as a consultant for KULR and have been compensated in shares for that role. I'm not a licensed financial professional. I have performed extensive research on the Company and believe KULR has real potential to displace conventional thermal management or "cooling" solutions for the electronics and battery industries. This is my opinion and you should always perform your own complete due diligence before making any investment decision. There is obviously risk of loss when buying or selling securities and generally even greater risk associated with buying or selling micro-cap stocks. Some real challenges faced by micro-cap companies include raising capital, increasing liquidity, attracting institutional investors, gaining analyst coverage, and general mistrust of the micro-cap market. Micro-cap companies also tend to lack in resources and often struggle to commercialize their products or services in a meaningful way.
I believe so! Time will tell. Let's see how this story unfolds.
Not so revolutionary but amazing nonetheless, given the simplicity of the tech and it works! Hopefully a changing of the guard with KULR's tech displacing more traditionally used solutions.
In my opinion, yesterday and today's selling pressure was due to a manipulative short attack on the stock. Shareholders for the most part have held tight in the face of this move along with fresh buying interst at these price levels, which is great! If indeed this is the result of short sellers, I speculate the overall short position today is considerably larger than the 50,331 shares reported as of the 11/30/2020 reporting date. In my opinion, short sellers are playing a very dangerous game (KULR is not your typical OTC company) and will add fuel to an upside move with the advent of a bullish catalyst.
This information does not constitute an offer to sell or a solicitation of offers to buy any securities of KULR. As moderator of this board it is my duty to disclose to you that my family has invested in KULR and that I'm personally acting as a consultant for KULR and have been compensated in shares for that role. I'm not a licensed financial professional. I have performed extensive research on the Company and believe KULR has real potential to displace conventional thermal management or "cooling" solutions for the electronics and battery industries. This is my opinion and you should always perform your own complete due diligence before making any investment decision. There is obviously risk of loss when buying or selling securities and generally even greater risk associated with buying or selling micro-cap stocks. Some real challenges faced by micro-cap companies include raising capital, increasing liquidity, attracting institutional investors, gaining analyst coverage, and general mistrust of the micro-cap market. Micro-cap companies also tend to lack in resources and often struggle to commercialize their products or services in a meaningful way.
I hear you Badge. We can still have worthwhile thoughts and relevant conversations about KULR, even if it's in the midst of noise.
Hang in there. KULR has made meaningful progress with developmental work this year. Prospects are very good for commercialization and an up list to a senior exchange in 2021. I'm too am high on the the Company's technologies. I've visited with the team at KULR multiple times and know both Mike and Dr. Knowles personally. My father, a retired physicist and shareholder of KULR, understands the science and beauty of KULR's thermal management technologies and believes in KULR. I respect his opinion above all. Here's to new beginnings in 2021!
Thanks Badge. I figured as such. The inmates are running the asylum.
Who deleted my post from yesterday? This is not appreciated.
KULR Float: 6,175,157 shares
https://www.otcmarkets.com/stock/KULR/security
Agreed. I suspect the Company will announce progress on the customer acquisition front in the relative near future, given Mike's (CEO) past statements about KULR being on the cusp (2020/2021) of converting product development deals into volume production customers and the amount of time that has passed with those developmental deal engagements.
On another note, interestingly, the short interest of KULR as of 11/30/20 (https://otce.finra.org/otce/equityShortInterest) is 50,331 shares, which is quite significant relative the the average daily volume (44,944 shares during period 11/2/20 thru 12/9/20) in recent times.
Looking forward to the day these shorts get burned.
**Disclosure: This information does not constitute an offer to sell or a solicitation of offers to buy any securities of KULR. As moderator of this board it is my duty to disclose to you that my family has invested in KULR and that I'm personally acting as a consultant for KULR and have been compensated in shares for that role. I'm not a licensed financial professional. I have performed extensive research on the Company and believe KULR has real potential to displace conventional thermal management or "cooling" solutions for the electronics and battery industries. This is my opinion and you should always perform your own complete due diligence before making any investment decision. There is obviously risk of loss when buying or selling securities and generally even greater risk associated with buying or selling micro-cap stocks. Some real challenges faced by micro-cap companies include raising capital, increasing liquidity, attracting institutional investors, gaining analyst coverage, and general mistrust of the micro-cap market. Micro-cap companies also tend to lack in resources and often struggle to commercialize their products or services in a meaningful way.
Abstract from the CPSC/NSWCCD report:
The “Report on Emerging Energy Storage Technologies,” presents the results of research conducted by NSWCCD for CPSC, under CPSC Contract No. CPSC-I-17-0002. CPSC funded this research to learn about emerging high-energy-density battery technologies and to identify strategies to mitigate the fire hazards related to battery failures. The research focused on technologies with viability for consumer applications.
CPSC staff is using the results to guide future efforts to promote development of safer high-energy-density batteries for consumer applications and possibly to develop recommendations for improvements to standards for batteries and battery-powered products.
Source: https://www.cpsc.gov/s3fs-public/NSWCCD-63-TR-2020-39_Emerging-Energy-Storage-Technologies_DIS_A_VERSION_ForPostingVersion12012020.pdf?wYqrWGArQLL53BlqSYr8RfCwb2eiznIT
This morning, KULR made the following press release, which summarizes the results of the CPSC funded research report by the NSWCCD as pertaining to KULR's TRS technology:
https://www.globenewswire.com/fr/news-release/2020/12/10/2143023/0/en/Report-by-Naval-Surface-Warfare-Center-Validates-Efficacy-of-KULR-s-Battery-Safety-Technology.html
Benzinga Global Small Cap Conference (LIVE Today)
KULR Technology presentation scheduled today at 12:15 PM EST
CEO Michael Mo will provide an overview of the company and an update on recent strategic developments.
Watch live here:
How This Company's Tech Got to Mars (KULR Technology Entrepreneur Mag Video Interview)
A tech CEO talks about how his company's battery solutions are in everything from rocket ships to cell phones.
December 8, 2020
Michael Mo is the co-founder and CEO of Kulr Technology Group, which develops and commercializes thermal management solutions for various electronic applications, including consumer electronics, battery storage, and electric vehicles. In this episode of #ThePlaybook, Mo talks with host David Meltzer about his company and his advice for entrepreneurs.
Mo discusses Kulr’s role in space exploration, namely its partnership with NASA to develop a product to stop lithium-ion battery packs from exploding or overheating, and how it is applying that technology to commercial applications. He talks about three technologies the company has adapted from its space program products for commercial use, specifically those for safety, heat containment and transportation of batteries. He also talks about the challenges of cost and scalability in commercializing these technologies.
Mo advises entrepreneurs to “dream big,” aiming for a goal that is bigger than financial success. He talks about the Mars 2020 Perseverance Rover, noting Kulr’s part in the project and its name’s appropriateness.
Video Link: https://www.entrepreneur.com/video/360956
KULR CEO to be featured on The Playbook, a podcast/show from Entrepreneur magazine hosted by David Meltzer.
Good Morning $KULR Shareholders! We are excited to announce our CEO will be featured on The Playbook with host @davidmeltzer via @Entrepreneur for a one-on-one interview, highlighting some exciting developments within the company. Please stay tuned! #Innovation #Tech #TechNews pic.twitter.com/5IuZh1333o
— KULR Technology (@KULRTech) December 7, 2020
KULR Technology Group to Present on its Next-Gen Thermal Management Technologies at the 13th Annual LD Micro Main Event Conference on Tuesday, December 15
For details go to:
https://finance.yahoo.com/news/kulr-technology-group-present-next-133000423.html
Focus should be placed on the merits and drawbacks of KULR's technologies and how effective KULR will be to commercialize those technologies on a mass market scale (relative to cost and competition). Short-term price targets sound great, but seldom are accurate predictors of timing and price.
KULR produces highly effective electronics and battery cooling technologies, confirmed by NASA and the aerospace industry's use.
Present day, the Company seems largely focused on commercializing it's PPR (passive propagation resistant) battery enclosure technologies. Recently, NASA inked a deal with KULR to utilize it's PPR technologies for use in future manned and unmanned space missions.
The following are statements from NASA personnel regarding the efficacy of KULR's PRR technologies:
“KULR’s solution is the lightest weight battery heat sink option NASA has evaluated to date that has excellent promise to prevent thermal runaway propagation with the highest energy density COTS Li-ion cell designs,” said by Dr. Eric Darcy, NASA Johnson Space Control lead battery principal. “To date, NASA has not found a design solution with as much promise for preventing Li-ion battery TRP with as positive temperature margins on the adjacent cells while also being very lightweight.”
“NASA employs highly rigorous assurance and safety standards, especially for our man-rated technologies. KULR’s PPR design solution for future manned and unmanned space missions is an ideal fit for mass design, flexibility and cost, all the while maintaining this safety rigor through battery risks such as thermal runaway,” said NASA MSFC Deputy Chief Technologist John Carr.
“Through our partnership with KULR, we will now have the incredible ability to build space-optimized battery pack systems in-orbit,” said Brandon Lewis, Human Landing System Cross Program Analysis Coordinator. “We take the safety of our astronauts very seriously. KULR’s technologies will enable us to build safer battery packs that prevent dangerous thermal runaway propagation and protect our most valuable assets.”
In my mind, there is no question about the efficacy and reliability of KULR's PPR solutions and other electronics cooling technologies. The question is whether or not the Company's offerings have commercial viability (cost and competition) in the marketplace. The Company has repeatedly stated it's on track to convert developmental partnerships into volume production customers. As you have stated, time will tell. Let's see how this growth story unfolds. Stay tuned...
**Disclosure: This information does not constitute an offer to sell or a solicitation of offers to buy any securities of KULR. As moderator of this board it is my duty to disclose to you that my family has invested in KULR and that I'm personally acting as a consultant for KULR and have been compensated in shares for that role. I'm not a licensed financial professional. I have performed extensive research on the Company and believe KULR has real potential to displace conventional thermal management or "cooling" solutions for the electronics and battery industries. This is my opinion and you should always perform your own complete due diligence before making any investment decision. There is obviously risk of loss when buying or selling securities and generally even greater risk associated with buying or selling micro-cap stocks. Some real challenges faced by micro-cap companies include raising capital, increasing liquidity, attracting institutional investors, gaining analyst coverage, and general mistrust of the micro-cap market. Micro-cap companies also tend to lack in resources and often struggle to commercialize their products or services in a meaningful way.
Wish you all a safe and happy Thanksgiving.
Any time. Good luck to us all!
Additionally, "the current intention of the board is described in our information statement is to coordinate the timing of the ratio of the split to be in sync with the up list to a US senior national stock exchange, such as the NASDAQ capital market or the NYSE market." The CEO also stated that the up list would hopefully occur in "early 2021".
The requirements for listing on the NYSE appears to be less stringent than the Nasdaq. Standard 3 in the following link requires a minimum stock price of $2 (KULR is likely to have already met other requirements under Standard 3), so perhaps KULR is considering an NYSE listing if done in early 2021: https://www.nyse.com/publicdocs/nyse/listing/NYSE_MKT_Listing_Standards.pdf
Yes BlazingStocks. The Company seems to have focused it's mass market commercialization strategy on energy storage (stationary utility/residential level energy storage), EV, and battery recycling/transport markets. To me this makes sense, especially in the energy storage and battery recycling arenas. The Company looks to provide "lightweight, high performance and cost effective" passive propagation resistant (PPR) design solutions for these markets stating "there are very few solutions out there that are space proven, have the kind of performance and effectiveness of our suite of tools".
If KULR delivers superior products (PPR resistant battery enclosure/"container" technology) at competitive cost points, I believe there's considerable potential for the Company to garner market share in the stationary energy storage and battery recycling markets.
Battery Recycling Market Size and Growth Projection: https://www.grandviewresearch.com/press-release/global-battery-recycling-market
Stationary Energy Storage Market Size and Growth Projection: https://www.gminsights.com/industry-analysis/stationary-battery-storage-market
In my opinion, we need to see progress soon and look forward to hearing what KULR reports in the way of customer engagements (conversion of product development engagements into recurring volume customers) in 2021.
**Disclosure: This information does not constitute an offer to sell or a solicitation of offers to buy any securities of KULR. As moderator of this board it is my duty to disclose to you that my family has invested in KULR and that I'm personally acting as a consultant for KULR and have been compensated in shares for that role. I'm not a licensed financial professional. I have performed extensive research on the Company and believe KULR has real potential to displace conventional thermal management or "cooling" solutions for the electronics and battery industries. This is my opinion and you should always perform your own complete due diligence before making any investment decision. There is obviously risk of loss when buying or selling securities and generally even greater risk associated with buying or selling micro-cap stocks. Some real challenges faced by micro-cap companies include raising capital, increasing liquidity, attracting institutional investors, gaining analyst coverage, and general mistrust of the micro-cap market. Micro-cap companies also tend to lack in resources and often struggle to commercialize their products or services in a meaningful way.
Thank you Stuart.
I understand and share your concerns. Thanks for the insightful comments.
You're absolutely right. However, whether they have a long way to go or not remains to be seen.
Good point. I'm sure they understand this. To your point assuming Nasdaq, under the "Equity Standard" bracket, that minimum number is 90 days: https://listingcenter.nasdaq.com/assets/initialguide.pdf
I assume KULR is going through preliminary steps today in anticipation of an up list by end of Q2 2021? If the Company is successful with converting one or more developmental partnerships into significant volume production commercialization, I also assume, this along with the up list would put them in a favorable position to capital raise under more favorable conditions.
Disclosure: This information does not constitute an offer to sell or a solicitation of offers to buy any securities of KULR. As moderator of this board it is my duty to disclose to you that my family has invested in KULR and that I'm personally acting as a consultant for KULR and have been compensated in shares for that role. I'm not a licensed financial professional. I have performed extensive research on the Company and believe KULR has real potential to displace conventional thermal management or "cooling" solutions for the electronics and battery industries. This is my opinion and you should always perform your own complete due diligence before making any investment decision. There is obviously risk of loss when buying or selling securities and generally even greater risk associated with buying or selling micro-cap stocks. Some real challenges faced by micro-cap companies include raising capital, increasing liquidity, attracting institutional investors, gaining analyst coverage, and general mistrust of the micro-cap market. Micro-cap companies also tend to lack in resources and often struggle to commercialize their products or services in a meaningful way.
Although KULR may not meet certain requirements today (such as stock price or shareholder equity), perhaps a reason for uplisting is to obtain more favorable financing. I assume the Company could use considerably more funds to spur growth (i.e. hire more staff, R&D, etc). Perhaps the CEO will address this issue in todays earnings Q&A call.
Section 14C 8K filing:
Reasons for the Reverse Split
The Board’s primary objective in effecting the Reverse Split, if necessary or if the Board otherwise desires, is to enable the Board to raise the per share trading price of our Common Stock, which is currently quoted only on the OTCQB, to allow for a listing of our Common Stock on one of the Exchanges.
Our Board has determined that by increasing the market price per share of our Common Stock, we could meet the stock price element of the initial listing requirements of each of the Exchanges and our Common Stock could be initially listed on one of the Exchanges. Our Board concluded that the liquidity and marketability of our Common Stock will be adversely affected if it is not quoted on a national securities exchange as investors can find it more difficult to dispose of, or to obtain accurate quotations as to the market value of, our Common Stock. Our Board believes that current and prospective investors may view an investment in our Common Stock more favorably if our Common Stock is quoted on one of the Exchanges.
While we believe that we will likely implement the Reverse Split in connection with a contemplated uplisting onto an Exchange, we cannot assure you that the Board will ultimately determine to effect the Reverse Split or if effected, at what ratio it will be effected or that the Reverse Split will have any of the desired effects described above. More specifically, we cannot assure you that after the Reverse Split the market price of our Common Stock will increase proportionately to reflect the ratio for the Reverse Split, that the market price of our Common Stock will not decrease to its pre-split level, or that our market capitalization will be equal to the market capitalization before the Reverse Split.
Source: https://www.sec.gov/Archives/edgar/data/1662684/000110465920125652/tm2036087d1_pre14c.htm
Reasons for the Reverse Split
The Board’s primary objective in effecting the Reverse Split, if necessary or if the Board otherwise desires, is to enable the Board to raise the per share trading price of our Common Stock, which is currently quoted only on the OTCQB, to allow for a listing of our Common Stock on one of the Exchanges.
Our Board has determined that by increasing the market price per share of our Common Stock, we could meet the stock price element of the initial listing requirements of each of the Exchanges and our Common Stock could be initially listed on one of the Exchanges. Our Board concluded that the liquidity and marketability of our Common Stock will be adversely affected if it is not quoted on a national securities exchange as investors can find it more difficult to dispose of, or to obtain accurate quotations as to the market value of, our Common Stock. Our Board believes that current and prospective investors may view an investment in our Common Stock more favorably if our Common Stock is quoted on one of the Exchanges.
While we believe that we will likely implement the Reverse Split in connection with a contemplated uplisting onto an Exchange, we cannot assure you that the Board will ultimately determine to effect the Reverse Split or if effected, at what ratio it will be effected or that the Reverse Split will have any of the desired effects described above. More specifically, we cannot assure you that after the Reverse Split the market price of our Common Stock will increase proportionately to reflect the ratio for the Reverse Split, that the market price of our Common Stock will not decrease to its pre-split level, or that our market capitalization will be equal to the market capitalization before the Reverse Split.
Source: https://www.sec.gov/Archives/edgar/data/1662684/000110465920125652/tm2036087d1_pre14c.htm
On November 16, 2020, holders of the majority of the voting power of the outstanding stock of KULR Technology Group, Inc. (the “Company”), voted in favor of a reverse split of the Company’s issued and outstanding common stock at a ratio no greater than 1-for-8, which ratio shall be designated at the sole discretion of the Company’s Board of Directors (the “Board”) at the appropriate time (the “Reverse Split”). The Board’s authority to designate the ratio and timing of the Reverse Split expires on November 16, 2021 and does not assure that the Board will exercise its authority to effectuate the Reverse Split.
https://sec.report/Document/0001104659-20-125661/
KULR boosts cash balance in 3Q, expects tailwind for its products as US adopts clean energy, EVs, battery cycling
The San Diego-based company increased its cash balance by over $2 million to $2,809,656 at the end of September, compared to $767,906 on June 30
KULR Technology Group, Inc. - KULR boosts cash balance in 3Q, expects tailwind for its products and solutions as US adopts clean energy
CEO Michael Mo said the firm has focused on solidifying its design and test capabilities, building its network of strategic business partners, and strengthening its balance sheet
KULR Technology Group Inc (OTCQB:KULR), citing a strong balance sheet and available cash, said Friday that it expects the incoming US administration to accelerate a transition to clean energy, “providing a tailwind” for the firm’s products, solutions, and services.
The San Diego, California-based company said it had increased its cash balance by over $2 million to $2,809,656 at the end of September, compared to $767,906 on June 30, 2020.
The firm raised $2,300,000 of gross proceeds through the issuance of notes payable, of which $375,000 was subsequently repaid. It also raised $1,395,000 of gross proceeds through the issuance of common stock.
READ: KULR Technology inks MOU with smartphone component supplier to produce internal short circuit technology
For the third quarter ended September 30, 2020, the company posted revenue of $136,849. The decrease in revenue was “mainly due to a large DOD contract of about $355,000…The customer has pushed the next shipment of product to 2021,” said the company.
"With the recent US election, we believe the incoming administration will most likely accelerate a transition to clean energy and steer the US away from an economy reliant on fossil fuels,” KULR Technology CEO Michael Mo said in a statement.
“We expect to see a strong focus on decarbonization of the electric and transport sectors, which will advance the market penetration of electric mobility, energy storage, clean tech, and battery recycling — all providing tailwind for KULR's products, solutions, and services."
The KULR boss noted that given the challenges presented by the coronavirus (COVID-19) pandemic, the firm has focused on solidifying its design and test capabilities, building its network of strategic business partners, and strengthening its balance sheet.
“During the first half of 2020, we experienced delays with our product development partnerships due to COVID-19. Conditions improved in the third quarter and we're pleased to report that work has resumed on certain key product development projects,” said Mo.
“COVID-19 aside, given the innovative nature of our portfolio of thermal management solutions, the process for designing in to next-generation electronics and battery systems has been lengthy and challenging. However, we anticipate that our work will result in higher volume productions and a more consistent revenue growth in 2021."
Here are some highlights from the third quarter:
Partnered with a global electronics and battery maker to build Internal Short Circuit (ISC) battery testing technology and to license KULR's thermal runaway shield technology to the partner in a commercial phase;
Provided the Federal Aviation Administration with ISC technology to evaluate passenger lithium-ion battery malfunctions that can cause fire, smoke on aircrafts;
Partnered with Airbus Defense and Space for use of KULR's passive propagation resistant (PPR) solutions for research into lithium-ion battery safety;
Signed a dual-use tech development pact with NASA's Marshall Space Flight Center to build 3D-printed battery systems for manned and robotic space applications;
Partnered with Silicon Valley-based Drako Motors to use FTI fiber cooling technology for the Drako GTE, a new ultra-high-performance electric supercar;
Awarded two patents by the US Patent Office;
Signed an agreement with Volta Energy Products for implementation in stationary energy storage modules from the grid; and
Awarded contract to supply NASA with fireproof storage solutions for Microsoft Surface Pro 5 hybrid notebook computers on the International Space Station.
KULR's carbon fiber thermal interface technology, designed for space exploration, allows for the efficient of cooling of batteries and electric components.
Source: https://www.proactiveinvestors.com/companies/news/934089/kulr-boosts-cash-balance-in-3q-expects-tailwind-for-its-products-as-us-adopts-clean-energy-evs-battery-cycling-934089.html
KULR is an emerging company with many irons in the fire (from earnings announcement):
"We are still in the early stages of business growth and development of customer relationships which typically begin on a project by project basis, leading to limited volume trials and eventually, product sales. As a result, in the absence of a large installed customer base, our sales can be lumpy and vary from one period to another, however our customer pipeline has been strengthened from 13 customers during 2018 to 28 customers during 2019."
Rome wasn't built overnight. If and when the Company converts product development stage relationships into established volume production deals, revenue growth will follow. Stay tuned.
**Disclosure: This information does not constitute an offer to sell or a solicitation of offers to buy any securities of KULR. As moderator of this board it is my duty to disclose to you that my family has invested in KULR and that I'm personally acting as a consultant for KULR and have been compensated in shares for that role. I'm not a licensed financial professional. I have performed extensive research on the Company and believe KULR has real potential to displace conventional thermal management or "cooling" solutions for the electronics and battery industries. This is my opinion and you should always perform your own complete due diligence before making any investment decision. There is obviously risk of loss when buying or selling securities and generally even greater risk associated with buying or selling micro-cap stocks. Some real challenges faced by micro-cap companies include raising capital, increasing liquidity, attracting institutional investors, gaining analyst coverage, and general mistrust of the micro-cap market. Micro-cap companies also tend to lack in resources and often struggle to commercialize their products or services in a meaningful way.
KULR Technology Group Inc. Reports Third-Quarter Results and Announces Shareholder Update Call
Strategic partnerships and strong technology portfolio position KULR to benefit from expected emphasis on clean energy and decarbonization in the coming years
SAN DIEGO, CA / ACCESSWIRE / November 13, 2020 / KULR Technology Group, Inc. (OTCQB:KULR) (the "Company" or "KULR"), a leading developer of next-generation thermal management technologies, today announces its financial results for the third quarter ended September 30, 2020, and provides a summary of operational achievements since the beginning of the third quarter of 2020.
KULR's business model continues to evolve from being a component supplier, to providing more design and testing services to our customers. The Company believes that it continues to establish itself as a trusted partner with both government agencies and the private sector. The next step of evolution is to provide total systems solutions to address market thermal management needs. To scale up as a systems provider more quickly and efficiently in the directed energy, hypersonic vehicle thermal systems, energy storage and lithium-ion battery recycling markets, KULR will actively seek partners for joint venture, technology licensing and other strategic partnership models. The goal is to leverage the Company's thermal design technology expertise to create market-leading products, which KULR will take to market directly to capture more value for shareholders.
"With the recent U.S. election, we believe the incoming administration will most likely accelerate a transition to clean energy and steer the U.S. away from an economy reliant on fossil fuels. We expect to see a strong focus on decarbonization of the electric and transportation sectors, which will further advance the market penetration of sectors such as electric mobility, energy storage, clean tech, and battery recycling - all providing tailwind for KULR's products, solutions, and services in the years ahead" stated KULR Chief Executive Officer, Michael Mo.
"Given the challenges presented by the COVID-19 pandemic, we have focused on solidifying our design and test capabilities, building our network of strategic business partners, and strengthening our balance sheet. During the first half of 2020, we experienced delays with our product development partnerships due to COVID-19. Conditions improved in the third quarter and we're pleased to report that work has resumed on certain key product development projects. COVID-19 aside, given the innovative nature of our portfolio of thermal management solutions, the process for designing in to next-generation electronics and battery systems has been lengthy and challenging. However, we anticipate that our work will result in higher volume production and more consistent revenue growth in 2021," commented Mr. Mo.
Third Quarter 2020 Financial Highlights: Third Quarter 2020 vs. Second Quarter 2020
Raised $2,300,000 of gross proceeds from issuance of notes payable, net of commitment fees, of which $375,000 was subsequently repaid;
Raised $1,395,000 of gross proceeds from the issuance of common stock;
Increased cash balance by over $2 million to $2,809,656 at September 30, 2020 from $767,906 at June 30, 2020;
Increased shareholder equity by $417,779 since June 30, 2020; and
Revenues of $136,849 declined from $201,128 in the previous quarter as a result of supply chain delays in sourcing and delivering materials.
Third Quarter 2020 and Recent Operational Highlights
Partnered with a global electronics and battery manufacturer to build Internal Short Circuit (ISC) battery testing technology and to license KULR's thermal runaway shield (TRS) technology to the partner in a commercial phase
Provided the Federal Aviation Administration (FAA) with ISC technology to evaluate passenger lithium-ion battery malfunctions that can cause fire and smoke incidents aboard aircrafts
Partnered with Airbus Defense and Space for use of KULR's passive propagation resistant (PPR) solutions for research into lithium-ion battery safety and testing in flight applications
Awarded contract to supply NASA with fireproof storage solutions for the Microsoft Surface Pro 5 hybrid notebook computers used aboard the International Space Station
Signed a dual-use technology development agreement with NASA's Marshall Space Flight Center (MSFC) to build 3D-printed battery systems for manned and robotic space applications
Awarded two patents by the U.S. Patent and Trademark Office:
Patent no. 10727462 for the Company's TRS technology, which reduces hazardous risks associated with thermal runaway in lithium-ion battery packs
Patent no. 10734302 for the Company's fiber thermal interface (FTI) technology, a NASA-grade high-performance thermally conductive carbon fiber material developed for a variety of applications, including space, automotive and electronics
Partnered with Silicon Valley-based Drako Motors to use FTI fiber cooling technology for the Drako GTE, a new ultra-high-performance electric supercar
Former Chief of Strategic Prioritization at the Pentagon, Dave Harden, joined KULR's advisory board
Signed an agreement with Volta Energy Products to provide passive propagation resistant (PPR) technology for implementation in stationary energy storage modules from the grid
Active participation in setting industry safety standards, with increasing involvement and collaboration with regulators and industry trade groups
Participation in U.N. Working Group on lithium-ion classification
Partnership with Hazmat Safety Consulting
Membership with Outdoor Power Equipment Institute
Financial Results: Third Quarter 2020 vs. Third Quarter 2019
Revenues: KULR generated revenues of $136,849 in the third quarter ended September 30, 2020, a decrease of 74% compared with revenues of $526,722 reported in the year-ago period. The decrease in revenue was mainly due to a large DOD contract of about $355,000 received during the three months ended September 30, 2019. The customer has pushed the next shipment of product to 2021.
In spite of the reduction in sales this quarter, we are pleased to have new customers and partners such as Airbus, Drako Motors and Volta Energy, which we expect to contribute revenue by 2021. These additions reflect management's commitment to build new customer relationships through a growing pool of referrals and business development leads.
Selling, General and Administrative (SG&A) Expenses: Our SG&A expenses increased to $834,582 in the third quarter of 2020 from $546,982 in the corresponding period last year. The 53% increase in SG&A expenses was due to additional marketing and advertising expense and non-cash stock-based compensation paid to employees and consultants.
R&D expenses: We reduced our R&D expenses in the third quarter of 2020 to $51,820 from $137,970 in the same period last year, reflecting a combination of headcount and salary reductions implemented in the first quarter of 2020.
Operating Loss: Our loss from operations was $810,520 for the third quarter of 2020, compared with a loss of $267,281 for the comparable quarter of 2019. The decline reflects lower sales and higher selling, general and administrative expenses.
Net Loss: Net loss for the third quarter of 2020 increased to $1,012,259, or a loss of $0.01 per share, compared with a net loss of $267,534, or a loss of $0.003 per share for the comparable period in 2019.
Cash Position: Cash was $2,809,656 at September 30, 2020, compared with $108,857at December 31, 2019. Effective February 27, 2020, the Company entered into a 24-month Standby Equity Distribution Agreement ("SEDA") with an investor, pursuant to which the Company may, at its discretion, sell up to an aggregate value of $8 million in shares of the Company's common stock at a price equal to 80% of the lowest daily volume-weighted average price for the five days immediately following the date the Company delivers notice requiring the investor to purchase the shares under the SEDA. As of September 30, 2020, we had approximately $5,847,300 available in connection with the SEDA, available to fund our ongoing operations
The Company has filed its Form 10-Q reporting its results for the three months and nine months ended September 30, 2020.
Shareholder Update Call
The Company has scheduled a shareholder update call for 4:30 PM EST on Tuesday, November 17th, 2020. Michael Mo, KULR's CEO, will provide a business update for the Company and answer questions submitted in advance.
To access the call:
Dial-In Number: 1-857-232-0157
Access Code: 422095
Interested parties may submit questions prior to the call to Stuart Smith at SmallCapVoice.Com, Inc. via email: ssmith@smallcapvoice.com by 8:00 PM EST on Monday, November 16th, 2020. Mr. Smith will compile a list of questions and submit them to the Company prior to the conference call. Questions that will be addressed will be based on the relevance to the Company's strategic direction and execution, the shareholder base and appropriateness in light of public disclosure rules.
For those unable to participate in the live conference call, a replay will be available at https://www.smallcapvoice.com/kulr/ shortly after the call has concluded. An archived version of the webcast will also be available at https://kulrtechnology.com/category/presentations/
About KULR Technology Group, Inc.
KULR Technology Group, Inc. (OTCQB:KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company's roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Source: https://www.yahoo.com/now/kulr-technology-group-inc-reports-220000507.html
KULR Q3 earnings due by 11/16/20.
This WSJ article speaks to the recent prevalence of EV battery fire risk auto makers are dealing with, forcing recalls.
https://www.wsj.com/articles/auto-makers-grapple-with-battery-fire-risks-in-electric-vehicles-11603099800
Auto Makers Grapple With Battery-Fire Risks in Electric Vehicles
By Ben Foldy Oct. 19, 2020 5:30 am ET
Auto makers are confronting a new challenge in their race to sell more electric cars: battery-related fires leading to vehicle recalls and safety probes.
U.S. safety regulators this month opened a probe into more than 77,000 electric Chevy Bolts made by General Motors Co. after two owners complained of fires that appeared to have begun under the back seat, where the battery is located.
Ford Motor Co. said last week it is delaying the U.S. introduction of its Escape plug-in hybrid after fire concerns surfaced this summer in similar vehicles sold in Europe.
Also, in recent weeks, Hyundai Motor Co. and BMW AG have initiated world-wide recalls to address problems with battery fires in plug-in models.
GM, Ford and Hyundai said that they are still investigating the fires’ causes and looking into possible remedies, and that safety is their primary concern. BMW said that most of the cars affected hadn’t yet been sold to customers.
One Chevy Bolt fire resulted in a smoke-inhalation injury, safety regulators say. The other three car companies say they have had no injuries.
Researchers have said the risks of fire in an electric vehicle are comparable to those of gas-powered cars. Additionally, analysts say these kinds of battery-related fires are relatively rare, with an uptick to be expected from the growing numbers of battery-powered cars on the road.
Still, the incidents illustrate the hurdles auto manufacturers face with electric technology, particularly in managing energy-dense and flammable lithium-ion batteries that have previously caused fires in laptops, tablets and other applications.
Global car companies are racing to increase their electric-vehicle offerings in the midst of tougher regulations that aim to reduce greenhouse-gas emissions from transportation. Ford has said its recall means the company must join with another auto maker to avoid fines in Europe this year.
To meet the more-stringent requirements, the auto industry has placed big bets on an electrified future, committing roughly $200 billion to electrification over the next four years, according to consulting firm AlixPartners LLP.
The lithium-ion batteries in electric cars are similar to those found in consumer electronics, which store large amounts of energy relative to their size. But to power an automobile, there needs to be more of them, and the demands are higher, creating a unique risk.
“When they do fail, they bring a lot more to the party, so to speak,” said Nick Warner, principal at Energy Storage Response Group LLC, an energy safety and testing firm in Columbus, Ohio.
While fires can occur after crashes, many of the recent incidents are notable for involving electric vehicles that were parked when the fire broke out.
For instance, one Chevy Bolt owner told federal regulators the vehicle was plugged into a charger in the driveway when the blaze started, according to the complaint posted to the National Highway Traffic Safety Administration’s website. NHTSA investigators received another complaint from a second owner and found a third Chevy Bolt in an insurance auction lot with a similar burn pattern.
GM said that it is cooperating with the probe, which covers 2017 to 2020 model-year Bolts, and that safety is its highest priority. The company and its supplier have together put more than 2,500 hours into safety tests of the Bolt’s battery, a spokesman said.
Hyundai is in the process of recalling about 77,000 electric Kona SUVs globally after about a dozen battery-related fires, including one in a residential garage in Montreal, the company said.
Additionally, BMW said fire risks related to a quality issue at its battery supplier have led it to recall about 27,000 plug-in hybrids globally.
In Europe, Ford this summer recalled roughly 20,500 plug-in hybrid SUVs and warned owners not to charge their vehicles after reports of seven fires. The auto maker said the batteries can overheat and vent hot gases, which can then cause other parts of the vehicle to ignite. Ford has now delayed the launch of a similar plug-in hybrid Escape in the U.S. into next year.
Hyundai, Ford and BMW believe the issues are related to manufacturing defects from their battery suppliers, company spokespersons said.
NHTSA, in a statement, said the agency has launched multiple investigations into the potential safety issues related to fires involving electric-vehicle batteries based on data it collects. The agency also funds targeted research on advanced-battery technology and participates in developing global technical regulations.
A report the agency commissioned in 2017 said that as battery technology matures, safety risks may also increase, as manufacturers try to maximize their performance. The report concluded, however, that the risks of battery fires are likely comparable to or slightly fewer than in gas-powered cars.
At Tesla’s ‘Battery Day’ event, Elon Musk outlined plans for a $25,000 electric vehicle using cheaper, more-powerful batteries. The company aims eventually to produce 20 million electric cars a year—potentially becoming the world’s largest auto maker.
Still, electric-vehicle fires are a major topic in the battery industry. Analysts say the threat of more fires looms as auto makers face pressure to lower the costs of electric vehicles, pack more energy-dense batteries into them and ramp up production.
The auto industry is focused on both bringing down emissions and ensuring safety, said John Bozzella, president of the Alliance for Automotive Innovation, the auto industry’s main U.S. trade group.
In most cases, the issues are related to quality problems in the manufacturing process or a failure to manage the battery’s heat or electrical energy properly, Mr. Warner said. “It could be as simple as a zero instead of a one in a line of software,” he said.
Mr. Warner and others in the battery industry, however, said the challenges car companies face are similar to those experienced by Sony Corp., Boeing Co. and others that have encountered setbacks with lithium-ion batteries in their products. Eventually, the kinks were worked out, and the technology has since become a dominant power source, Mr. Warner said.
KULR Partners with Leading Global Electronics Components Supplier On Battery Safety Technologies
KULR provides NASA space-grade battery technology to leading battery manufacturer and electronics component supplier to leading global 5G mobile devices
SAN DIEGO, CA / ACCESSWIRE / October 26, 2020 / KULR Technology Group, Inc. (OTCQB:KULR), (the "Company" or "KULR") announces it has entered into a legally binding MOU (memorandum of understanding) with a leading global electronics component and battery manufacturer (the "Partner"), which is a leading supplier of a key electrical component in smartphones such as the Apple iPhone, to pursue business relationships building Internal Short Circuit (ISC) battery testing technology and for KULR to license its passive propagation resistant Thermal Runaway Shield (TRS) technology to the Partner in a commercial phase.
"We are proud to work with a leading innovator, whose technology is trusted by globally recognized brands. Through this partnership, we will share our breakthrough ISC and TRS technologies to make our Partner's batteries safer and more efficient for both commercial and consumer application," said Michael Mo, CEO of KULR. "Our Partner's reputation in the world of rechargeable batteries is unparalleled, and we look forward to advance its research into battery reliability and safety."
Under the agreement, KULR will provide its ISC devices for making ISC trigger cells based on Partner's battery portfolio. KULR will also license its passive propagation resistant (PPR) technology portfolio and intellectual property to the Partner in order to help build and modify the TRS technology for Partner's battery applications, which include energy storage, electric mobility, consumer electronics, and mobile devices among others.
About KULR Technology Group, Inc.
KULR Technology Group, Inc. (OTCQB:KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company's roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Source: https://finance.yahoo.com/news/kulr-partners-leading-global-electronics-120000237.html