Axion Power International, Inc. (OTCMKTS:AXPW) Going Lower

[[tagnumber 0]][[tagnumber 1]]Back in the end of 2015 the stock of Axion Power International, Inc. (OTCMKTS:AXPW) was traded for about $1 per share. This year, however, saw the ticker take a more firm downward direction and, by now, the company stock has lost more than 98% of the value it had just five months ago.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company currently has a pretty small market cap, but that shouldn’t come as that big of a surprise. After all, [[tagnumber 6]]AXPW[[tagnumber 7]] isn’t doing all that well when it comes to numbers. Here is a quick example of some of the numbers of prime interest contained in the company’s annual report for the fiscal 2015.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $1 million[[tagnumber 13]] [[tagnumber 12]]current assets: $8.8 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $8.7 million[[tagnumber 13]] [[tagnumber 12]]net sales: $600 thousand[[tagnumber 13]] [[tagnumber 12]]net loss: $7.3 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Taking a closer look at some of the numbers we start to see some red flags. First of all, the net sales have dropped significantly compared to 2014. There is, however, another thing that is even stranger. The cost of goods sold is a lot bigger than the net sales figure. Furthermore, the current liabilities of the company have gone up more than ten times compared to the previous year, mainly from $7 million in senior convertible notes.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This is exactly why it’s not that surprising that we saw [[tagnumber 6]]AXPW[[tagnumber 7]] drop another 8.29% yesterday after losing a hefty 29.31% in Monday’s trading. As the ticker was going for a close at $0.0188 we saw a total of 14.3 million shares change their owners and generate $243 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today’s session isn’t going any better and [[tagnumber 6]]AXPW[[tagnumber 7]] is already 6.91% down as of the writing of this article. Only time will tell how much further down south the company stock can sink, but you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]