SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
PETERSEN JOHN L

(Last) (First) (Middle)
100 CASTER AVE.

(Street)
WOODBRIDGE A6 L4L 5Y9

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Axion Power International, Inc. [ AXPW ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
11/11/2005
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 11/11/2005 X 116,700 A $1 154,900 I FN(1)
Common Stock 11/11/2005 X 189,300 A $1 344,200 I FN(1)
Common Stock 11/11/2005 X 140,000 A $1 484,200 I FN(1)
Common Stock 11/11/2005 S 475,000 D $2.25 9,200 I FN(1)
Common Stock 11/11/2005 A 275,000 A $2.25 284,200 I FN(1)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Capital Warrants $1 11/11/2005 X 116,700 06/04/2004 01/21/2007 Common Stock 116,700 $0 0 I FN(1)
Contractual Stock Option $1 11/11/2005 X 189,300 06/04/2004 01/21/2007 Common Stock 189,300 $0 0 I FN(1)
Contractual Stock Option $1 11/11/2005 X 140,000 03/18/2005 03/17/2007 Common Stock 140,000 $0 0 I FN(1)
Capital Warrants $2 11/11/2005 P 91,700 11/11/2005 01/21/2007 Common Stock 91,700 $0.25 91,700 I FN(1)
Preferred Stock Warrant $2 11/11/2005 P 82,500 11/11/2005 03/17/2007 Common Stock 82,500 $0.25 82,500 I FN(1)
Common Stock Warrants $4 11/11/2005 A 275,000 11/11/2005 10/10/2006 Common Stock 275,000 (2) 275,000 I FN(1)
Explanation of Responses:
1. (1) These securities are owned by the law firm of Petersen & Fefer, attorneys, Barbereche, Switzerland
2. (2) Purchased from the issuer in a private placement of units consisting of one share of common stock and one warrant.
Remarks:
/s/ John L. Petersen 11/15/2005
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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