Lithium Technology Corp.--LITH
Stock Symbol: LITH ? fully filing
Float: 9.6 million
5115 Campus Drive
Plymouth Meeting, PA 19462-1162
(610) 940 6090
Web site: lithiumtech.com
Other info:
biz.yahoo.com
biz.yahoo.com
biz.yahoo.com
pacificlithium.com
Other posts by me, hyping...lol:
ragingbull.com
ragingbull.com
LITH is in the late stages of developing and commercializing rechargeable solid-state lithium-ion polymer batteries. These batteries and their technology are extremely well suited for cellular phones, laptop computers, and even hybrid vehicles. Being one of the only ?pure plays? in this area, LITH believes its battery?s technology offers higher energy densities, lighter weight, and improved run times. The company boasts 26 patents, 10 patents pending, and 60 new patent applications for their technology, putting LITH well ahead of the competition in manufacturing efficiencies, including yield and cost advantages.
LITH has initiated and been approached by Original Equipment Manufacturers (OEMs). I have been told LITH is in ?talks? with,?major cellular, laptop, and vehicle manufactures? including a ?top ten? personal computer manufacturer. NASA has, with success, tested the larger batteries, adding to the credibility of the technology and LITH.
On the ?brink? of commercialization : The last piece of capital equipment is in route from Italy. Upon arrival, manufacturing on a large scale can commence. And there are buyers!!
In layman terms the batteries are almost like silly-putty, in that they will not leak, like lithium liquid batteries. LITH?s batteries can also be formed to almost any shape, so as to allow smaller phones or for the battery to be hidden behind the video screen of a lap top computer?..very versatile. (I don?t know if they bounce?)
So the product sounds great, the float is tiny, and the price is low. Whats the catch? LITH is doing a vertical merger with Pacific Lithium of Auckland, New Zealand ? a world leader, if not the leader, in the production of raw materials for lithium batteries.
pacificlithium.com
Under the terms of the transaction, LTC and PLL would merge into a new U.S. corporation - Ilion Technology Corporation - concurrent with an Initial Public Offering (IPO) and Nasdaq listing of Ilion, planned for later this year. The offering will be made only by means of a prospectus. At the time of the IPO, LTC's shareholders would exchange their LTC shares for 3,500,000 shares of Ilion stock on a pro-rata basis.
Since the original announcement in October, the merger transaction has been restructured as a tax free reorganization. According to the original terms, the merger would have occurred upon LTC shareholder approval and would have resulted in the transfer of all LTC assets to PLL in exchange for PLL stock, with the Ilion IPO occurring at a later date. Under the restructuring, the transfer of assets and technology will occur simultaneously with the Ilion IPO.
Beginning in October 1999, and until the IPO, PLL has assumed responsibility for covering all of LTC's operating cash flow requirements. If the merger is not consummated for any reason, all cash advances from PLL to LTC will be converted into common stock and except in the event of a PLL default, warrants and certain licensing and security arrangements.
Ilion is expected to have a unique position in the lithium polymer battery markets, providing a proprietary vertical integration capability that will range from ultra high grade lithium materials to reinforced composite battery structures, high yield thin film manufacturing processes and lithium recycling. This blending of technologies, capabilities and people will enable the new company to become a low cost provider of high quality and high performance lithium polymer battery cells. Targeted end user applications include the portable electronics market, particularly notebook computers and PDAs, as well as the rapidly emerging Hybrid Electric Vehicle (HEV) market.
From now until the IPO the two companies are operating as partners in pursuing lithium polymer battery opportunities worldwide, with LTC serving as full time exclusive consultants to PLL. According to Mr. Robin Johannink, PLL's Managing Director: ``The combination of PLL and LTC will serve as the catalyst for a wide range of new initiatives to secure a preeminent position in the global lithium polymer battery markets.' LTC's Chairman & CEO, Mr. David J. Cade, said: ``Approval by the LTC Board and signing of the formal merger agreement documents are critical steps in the process to complete the merger. We are confident that our shareholders will recognize the inherent value of uniting the two companies into a globally prominent new U.S. public corporation and will approve the merger.'
PLL is an unlisted New Zealand public company with more than 600 shareholders and access to sources of capital in New Zealand, Australia, Japan, Singapore and the U.S. It has exclusive licensing arrangements with the Massachusetts Institute of Technology and the National Research Council of Canada to commercialize proprietary electrode and electrolyte polymers. PLL is already a significant supplier of high quality battery-specific lithium carbonate to Japanese cathode and electrolyte suppliers. Furthermore PLL has developed and is sampling customers with patented high temperature stable, layered manganese cathode materials which should be ideally suited for both the HEV and portable applications markets. PLL's plant to commercially produce these cathode materials will be commissioned in early 2000. PLL's proprietary technology also includes the capability to reclaim and recycle lithium from depleted batteries.
I am a shareholder of LITH and may be bias. I suggest you research LITH and decide if it fits your risk tolerance level ?this is very speculative. And the exact terms of the merger are unknown, and may have a positive or negative effect on the stock.
I have in the past picked XNET @ .87,JAWZ @.47, GTCI @ 1.10, ZICA @ .87, MHTX @.47, CAOL @.80, and DFNL@ .81-still waiting on that one??.this is by no means a guarantee of performance.
I will be happy to answer any questions you have : khristian@home.com
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