AXION POWER INTERNATIONAL, INC. (OTCMKTS:AXPW) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01 Changes in Registration’s Certifying Accountant
On December 15, 2016, Frazier & Deeter, headquartered in Atlanta, Georgia, was engaged as the new independent registered public accounting firm for Axion Power International, Inc. (the “Company”) for the fiscal year ending December 31, 2016. The effective date of Frazier & Deeter’s appointment as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2015 is December 15, 2016. During the fiscal years ended December 31, 2014 and 2015, and the subsequent interim period through December 15, 2016, neither the Company, nor anyone acting on the Company’s behalf, has consulted with Frazier & Deeter regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s consolidated financial statements, in any case where either a written report or oral advice was provided to the Company by Frazier & Deeter that Frazier & Deeter concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a “disagreement” (within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a “reportable event” (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).
Item 8.01 Other Information
The Company previously reported that it was to receive a $250,000 deposit on or about December 1, 2016 from its prospective Chinese partner. However, the prospective partner has determined to have its Chairman visit Axion’s principal offices on January 9, 2017, and the Company expects receipt of the deposit thereafter. The Company’s reverse stock split proposal, as set forth in the Definitive Proxy Statement on Schedule 14A, filed with the SEC on October 17, 2016, did not receive the approval of the requisite number of shares to constitute shareholder approval under Delaware law. The Company anticipates again seeking shareholder approval imminently.
About AXION POWER INTERNATIONAL, INC. (OTCMKTS:AXPW)
Axion Power International, Inc. is an energy solutions company. The Company has developed carbon/lead batteries, and integrates its batteries into energy storage systems, renewable energy systems, off-grid applications, automotive and other applications. The Company sells batteries, energy storage systems and engineering services as part of its product offerings, and can assist battery end users to adapt its batteries to various applications. The Company’s lead carbon (PbC) batteries and battery components have application in a range of energy storage systems. It focuses on various areas, such as power grid stabilization, micro-hybrid vehicles, hybrid commercial trucks, automated guided vehicles, and off-grid and renewable energy storage. Its PbC battery technology is a hybrid asymmetric energy storage device. The Company manufactures lead-acid batteries for sale under the Axion brand name at its Clover Lane facility in New Castle, Pennsylvania. The Company also offers the PoweCube. AXION POWER INTERNATIONAL, INC. (OTCMKTS:AXPW) Recent Trading Information
AXION POWER INTERNATIONAL, INC. (OTCMKTS:AXPW) closed its last trading session up +0.0120 at 0.0390 with 58,686 shares trading hands.