Axion 6/30 Q2 CC Notes.
8/16/2011 11:00
Tom: re recent shareholder meeting. Overwhelming support, as previously discussed, for directors and S-3 shelf registration. COH sufficient through Q2 '12, new registration is not intended for these uses.
Talked about PbC batteries produced for NS, progressing well on their test platform and noted very low voltage variations – a positive.
Talked about the LA production and benefits, including “tuning”, training, commonality of processes and materials.
Happy with robotic PbC production progress.
Work continues on HEV market and have early Sept. meetings with Euro customers.
“Even though DOE declined to fund the JV development program, work will continue. Apparently DOE has Li-ion focus even as Euro folks move away from that.
No awards to LA tech under this program.
'Cube and mini-cube development continuing.
Q: Peter Kim ISI Capital, shift prod capacity in low-hundreds per shift, sufficient to scale?
A: Sufficient capacity for present orders, fund raise will address 2nd/3rd robot lines for more production and can go multiple shifts. So yes, sufficient capacity for “near future” events seen.
Q: $28M enough?
A: $28M was for flexibility. Don't envision using anywhere near that amount.
Q: Euro shifting, what are JCI, XIDE doing? Got on different LA or carbon design?
A: Can't speak for them. Our plan is to take the electrodes to customers. Not competing with them. Will look to be provider to those companies.
Closing, Tom: only 27 days since last call, so not surprised at few questions. Nevertheless, progress on NS, 'Cube, comm links and all hookups operational and supports all potential application testing.
[Bill] A new mention? Oil rigs?
Solar panel hookups EOM or early next month.
Good progress.
Bill
