Dear Xxxxxxxx, I have been bombarded daily by your associate in Germany xxxxxxx who does not understand what Xnrgi is doing to clean up its act and begin generating revenue. The company filed a Form 15 last summer, which under SEC regs makes Xnrgi Inc a non-reporting public company. Xnrgi is not required to report anything--financials, shareholdings, material events, etc. The anomaly is, however, that the several hundred public shareholders, despite having no information on the company, its business, or other aspects of its finances, are still able to trade Xnrgi shares (assuming they can find brokers willing to assist). There are several million Xnrgi shares traded daily and the putative market cap (as reported by MarketWatch and oth.ers) is about $1.2million The company, however, has raised private capital ($5million in September) at a $35million valuation. I have other private investors looking hard at Xnrgi at a $35-50million valuation, but these investors (and some major Xnrgi customers) are concerned about the disparity in private market valuation vs the putative public market valuation.
We have $2million of new capital in escrow. Xnrgi's lawyers are preparing a Plan to present to the Board, next month and management is seeking another $5-10million to provide working capital for the next 12 months=plus, to put Xnrgi in position to begin manufacturing and generating revenue. If your investor is interested, we can provide all the technical, as well as corporate information he may need.
The US Dept. of Energy tested Xnrgi's batteries for two years and last August granted the company $400,000 to prepare its batteries for manufacturing. Let me know if your prospect is sufficiently interested so we can put him together with Xnrgi management which can answer any questions he may have.
MediaTech Capital Partners LLC
(212) 759-3022
www.mediatechcapital.com
