We are talking about a company that sells less than @36,500 ballast a year here.

In China that is less than @150,000 dollars a year to make. Not a big sale to the Chinese!

If all of these where sold at retail we are talking @1.46 million in total sales. Since AXIS does not sell at retail but at wholesale we are only talking about @.723 million in sales a year. @.485 million of this goes to Salary. That leaves .238 million to pay for and buy inventory, which it does not cover, since AXIS paid @ .566 million for it in 2008.

Let's not forget interest expense of the loans, overhead, and etc.
For every dollar they bring in they are losing 2.5 dollars easily.

Let's say they sell the patents for 10 million, as some posters think that they are worth. Subtract over @ 4 million in accumulated debt and expenses, divided by 62 million shares, that leaves a stock price of @ 9.6 cents a share. Based on 2008 expenses the accumulated debt and expenses are best guessed at @ 5.3 million today, which leaves the stock price at @ 8.5 cents a share.

These are all easy numbers, most in the companies favor, so in real reality this stock is worth only half of the @ 8.5 cents, or about 4.25 cents a share.

Marketing of this product has killed the chances of any premium for the patents. Management has shown that these ballast do not sell like IPODS, since they sell less than a 100 aday.

I am thinking that they will not be able to make loan payments and will be forced to sell because interest expense is more than sales income currently.

Axis will need a @24 million dollar retail sale currently just to break even, the problem is they will need this money up front to even make the sale happen. Banks do not give companies that are already in debt, loans, based on PO's, that do not have their 10Q's up to date. Maybe years ago - not today.

If you disagree that is fine, just wait, wait and wait some more while the stock price continues to drop because the reality of all of this is setting in. As you can see most are selling on any price pop up, just trying to make an extra penny or two.

Little to no sales does = Bankruptcy!