Axis Technologies Group Inc (AXTG)

[Prudent Capitalist]

Interesting statement contained in the otherwise less than exciting 10Q for Q1 2009:

"The first quarter sales figures were less than anticipated due mainly to delays in getting our redesigned T8 ballast to market. Axis has contracted with a new supplier from China to help with the development and manufacture of this updated ballast. The UL has taken longer than predicted to assess our newly designed ballast as it has several improvements over our previous design that necessitated additoinal testing. We anticipate UL approval will occur in June 2009. Axis has received purchase orders of nearly three quarter million dollars for these ballasts, and we were not able to deliver them due to the UL delays. In anticipation of the UL approval, we have arranged for our new Chineses supplier to start manufactureing the newly designed T8 ballasts that will translate into approximately $330,000 in sales, of which there can be no assurances, once UL approval is obtained"

This seems to explain recent delays in connection with the new and improved product. Still, would like to see concrete announcements in this area in near future.