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Monday, April 19, 2021

A Technical Look on Neah Power Systems Inc (OTCBB:NPWZ)

Neah Power Systems Inc (OTCBB:NPWZ) continues to move up steadily making higher highs and higher lows after a recent test of 52 week low of $0.0041. The stock has a history of big moves running from $0.02 to $0.07 last year.

The move up comes after the Company announced that it has signed a definitive agreement to merge with Shorai, Inc., a leading provider of lithium ion-based power sports and starter battery solutions for the consumer motorsport industry.

This is huge news and would bring significant revenues of up to $4 million per annum to the new Company which would be named Neah Power Systems and be focused on delivering a comprehensive suite of alternative energy power generation and storage solutions.

Neah Power Systems Inc (OTCBB:NPWZ) is engaged in the development and sale of renewable energy solutions using proprietary fuel cell technology. Their fuel cells are designed to replace existing rechargeable and non-rechargeable battery technology in a variety of applications.

NPWZ is developing solutions specifically targeted for the military, transportation, and portable electronics applications, and are continuing to pursue additional applications for their technology. Their long-lasting, efficient and safe power solutions include devices such as notebook PCs, military radios, and other power-hungry computer, entertainment and communications products.

According to the 8k NPWZ filed on January 8 ”Effective January 6, 2015 Neah Power Systems Inc. entered into a definitive agreement to acquire 100% of the outstanding shares of Shorai, Inc., a lithium ion battery company, by way of mergers with Neah Power subsidiaries. The acquisition purchase price is a combination of a $1,000,000 cash payment and the issuance of up to $2,200,000 in Preferred Stock of Neah Power to the three shareholders of Shorai.

Pursuant to the agreement, Neah Power has until February 28, 2015 to make the $1,000,000 cash payment and close the merger transaction. Neah Power is currently interviewing investment bankers to lead the financing campaign to obtain the investment funds necessary to consummate this transaction. In the event that the closing conditions of the agreement cannot be met, Neah Power will pay to Shorai a termination fee equal to 3% of the merger consideration.

If this merger goes through it would be a huge win for NPWZ shareholders who have endured month after month of steady downward drift. NPWZ is a stock with a history of highly explosive moves running from subs to $0.07 in early 2013 so we know it can run. Since then however NPWZ has been in steep decline.

According to the 10k they filed on December 23 they have $475,000 in the treasury so they will need an investor to come up with the $1 million they need before February 28 to consummate the Shorai acquisition. NPWZ seems to have a history of reneging on deals so we will see what happens.

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The shell was incorporated in the State of Nevada in 2001, as Growth Mergers Inc. In March 2006 the Company changed their name to Neah Power Systems, Inc., in conjunction with a 1 for 100 reverse split fo the stock. In the year that followed NPWZ has affected 3 forward stock splits.

Neah Power Systems currently has two classes of fuel cells under development; the 1st is the PowerChip™ which is a silicon based fuel cell that uses traditional computer chip manufacturing to build the fuel cell. The 2nd is the BuzzCell™ a product developed using some processing steps of the PowerChip™ technology and using polymeric materials for a lower cost, consumer oriented product.

NPWZ is also developing Formira ™, a reformer platform for direct on-site generation of hydrogen gas. Customers will be able carry a liquid with a more acceptable safety profile and generate hydrogen gas at point of use rather than carrying high pressure hydrogen gas cylinders.

Perhaps NPWZ most valuable asset is their intellectual property portfolio consisting of 14 issued patents, 8 patents pending, that are being developed and various trade secrets for their proprietary technology.

The Company uses a unique, patented and award winning, silicon-based design for their Powerchip™ micro fuel cells that enable higher power densities, lower cost and compact form-factors. The PowerChip™ technology has been recognized for both its innovativeness and its application potential from noted sources including the 2012 ZINO Green finalist, the 2010 WTIA finalist, 2010 Best of What’s New Popular Science and other awards.

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NPWZ seems to be making all the right moves and investors are taking notice as evidenced by the massive accumulation taking place. The Shorai acquisition is really BIG for NPWZ if they can finalize it and just the fact that Shorai would agree to this represents a huge vote of confidence for Neah Power who has been struggling in recent months. It looks like the stars might be aligning here. NPWZ is a stock to watch.

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Disclosure: we hold no position in NPWZ either long or short and we have not been compensated for this article.

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