Axion Power International, Inc. (OTC:AXPW) has been moving down over the past couple of days. However, unlike the stock 
price, the traded volume of AXPW has been constantly increasing and investors are curious how far the fall may go. Yesterday, the stock lost another 3.03% on the market, on traded volume of over 640 thousand shares.
Historical data shows that the latest news by Axion came up on July 14, to confirm that its 2011 Annual Meeting of Stockholders will convene today. Apart from this news, the CEO of AXPW stated that its team will provide tours of the nearby Clover Lane plant facility, as well as a general business update and some voting proposals for the stockholders.
However, there is another curious fact about AXPW. Just yesterday, the company filed a form 4 with the SEC, pointing that Mr. David Gelbaum, a Director of Axion, has been disposing an impressive number of shares of the company’s common stock with no explanation. To be precise, a massive disposing of AXPW shares happened last month and it also was not explained.
Does it mean that AXPW stock price will keep falling down and disposing of the company’s shares is the best option for its directors? The answer should be clear shortly.
Axion pretends that it has developed and patented a next generation energy storage device in the field of lead-acid batteries. However, despite the impressive claims, its stock price has been going down progressively since end-March, when it was about $1.20 per share. Currently, it is only $0.64 per share and no one can predict the next move of AXPW. In any case, the company should either release some fresh news soon, or get ready to fall deeper in the next days.[BANNER]
The strangest thing about Axion is that at first sight its financial condition looks good. However, we’d better look closer. Despite the fact that the company’s assets are higher than its liabilities, the deficit accumulated during the development stage period got over $70 million by end-March this year. Besides, AXPW has other significant losses, which shouldn’t be ignored.
The management claims they have sufficient funds to support their operations through the first quarter of 2012. However, if they are not able to engage in commercial production of their products in the near term, or obtain major government grants, Axion will require further financing.
