UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): 12/23/15
Neah Power Systems, Inc.
(Exact Name of Registrant as Specified in Charter)
| Nevada (State or Other Jurisdiction of Incorporation) | 000-49962 (Commission File Number)
| 88-0418806 (IRS Employer Identification No.) |
| 22118 20th Avenue SE, Suite 142 Bothell, Washington |
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98021 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (425) 424-3324
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Information About Forward-Looking Statements
This Current Report on Form 8-K of contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Neah Power Systems, Inc.’s financial and operational results reflected herein should not be construed by any means as representative of the current or future value of its common stock. All information set forth in this Current Report on Form 8-K, except historical and factual information, represents forward-looking statements. This includes all statements about the Company’s plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the U.S. Securities and Exchange Commission (the “SEC”).
Item 8.01 Other Events
On December 23, 2015 the Company issued a press release regarding a memo of understanding with a South African entity.
The press release letter to shareholder is attached as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits.
| Exhibit No. | Description |
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| 99.1 | Press Release – Memo of Understanding - Licensing deal for serving the fast growing Africa market |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| Neah Power Systems, Inc. | |
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| By: | /s/ David Schmidt |
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| David Schmidt |
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| Acting Principal Financial Officer |
Date: December 23, 2015
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Final, Dec 23 2015 release
NEAH POWER SYSTEMS SIGNS MEMORANDUM OF
UNDERSTANDING WITH SOUTH AFRICAN ENTITY
Licensing deal for serving the fast growing Africa market
Bothell, WA (Date, 2015) – Neah Power Systems, Inc. (OTCBB: NPWZ, NEAH POWER) an emerging leader in fuel cell-based power solutions and rechargeable lithium battery storage solutions for defense, commercial, and consumer applications, proudly announced that the Company has signed a memorandum of understanding (MOU) with a large South Africa based entity, to license the NEAH’s technology. This license would include the PowerChip® fuel cell technology, the Formira HOD® technology and theBuzzBar technology.
Chris D’Couto, President and CEO of NEAH POWER said, “We are pleased to announce this MOU with a well-established, significant South Africa entity (SAE). As we continue to innovate and develop products, this relationship will enable cost effective manufacturing in one of the fastest growing markets for these products, as well as the ability to get high volume supply from this factory to meet our worldwide needs”.
The Company and the entity are working diligently to finalize certain financial details including upfront license payments, equipment purchase and installation support payments, and royalty payments on a go-forward basis. The Company and the SAE expect to create a joint venture where the Company would have partial ownership. The Company is expected to release more details about this important strategic venture, and expects to formalize the various agreements, in first quarter of 2016.
About Neah Power Systems, Inc.
Neah Power’s core fuel cell solutions have a small form factor, recharge instantly, and operable in air and non-air environments, providing a longer life with lower total cost of ownership. Neah Power’s Solutions offerings include the patented and patent pending PowerChip®, Formira® and the BuzzBar Suite® of products. For more information please visit www.neahpower.com.
Final, Dec 23 2015 release
For more information, or customer enquiries, please contact
Neah Power Systems Inc. Contact:
David Schmidt
dschmidt@neahpower.com
425 424 3324 ext 105
Forward Looking Statements
Certain of the statements contained herein may be, within the meaning of the federal securities laws, “forward-looking statements,” which are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, and Neah Power does not undertake any responsibility to update any of these statements in the future. Please read Neah Power’s Form 10-K for the fiscal year ended September 30, 2014 and its Quarterly Reports on Form 10-Q for a discussion of such risks, uncertainties and other factors.