iQ Power

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iQ Power AG
legal form Corporation
ISIN CH0268536338
founding December 20, 1994
Seat Zug , Switzerland
management
  • Charles Robert Sullivan,
    CEO
Number of employees 21 (December 2010)
sales 10.841 million euros (2011)
Branch automobile
Website www.iqpower.com

The iQ Power AG is a public company based in the Swiss train . The company was founded in Canada on December 20, 1994 . On November 10, 2004 the legal seat was relocated to Switzerland , the development, production and sales seat to Germany . Since October 2006 iQ Power AG has been listed in the General Standard of the Frankfurt Stock Exchange .

The company's aim is to develop, manufacture and sell lead-acid batteries, mainly used as starter batteries for motor vehicles. In addition, the company plans to enter the industrial batteries business.

As in the years since the company was founded, iQ Power was mainly financed by capital measures. In 2007 and 2008, sales of EUR 31,000 and EUR 53,000 were achieved, respectively, which were offset by expenses of EUR 6.8 million and EUR 7.3 million. At 2.9 million euros and 2.3 million euros, respectively, the remuneration paid to the board of directors and management was the largest expense item. For research and development almost 1.4 million euros and 1.2 million euros were spent.

The activities of the company received critical comments from relevant sources, especially from the ARD stock exchange it had to accept harsh criticism. The company was unable to dispel or answer the doubts and open questions. The resulting loss of confidence was evident in the share's drop of around eighty percent within six months up to March 3, 2009, bringing the market value to around eight million euros.

On March 4, 2009 the company filed for bankruptcy at the local court in Zug due to a lack of funding . The bankruptcy proceedings were revoked on May 29, 2009 after waivers from all creditors were available.

After the bankruptcy was lifted, a capital increase was carried out to the extent of thirteen million euros, excluding shareholders' subscription rights, thanks to which iQ Power was able to realign its business. In the meantime, cooperation agreements for the production of the batteries and their distribution have been concluded. In 2010, the company generated sales of 9.284 million euros and employed 21 people at the end of the year. In 2011 iQ Power generated sales of 10.841 million euros, the profit from taxes amounted to -10.849 million euros. In 2012, IQ Power signed a license and development agreement with the Brazilian battery manufacturer Moura to jointly develop so-called EFB starter batteries.

Web links

Individual evidence

  1. ↑ a b iQ Power AG: Annual Report 2010. (PDF) (No longer available online.) Archived from the original on January 14, 2016 ; accessed on April 1, 2011 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.iqpower.com
  2. ↑ a b iQ Power AG: Annual Report 2011. (PDF) (No longer available online.) Formerly in the original ; accessed on May 1, 2012 .  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Dead Link / www.iqpower.com  
  3. ↑ a b iQ Power AG: Short profile iQ Power. Retrieved January 27, 2009 .
  4. ↑ Entry of iQ Power AG in the commercial register of the Canton of Zug. (No longer available online.) Archived from the original on March 4, 2016 ; Retrieved January 27, 2009 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.hrazg.ch
  5. ↑ iQ Power AG: Structure iQ Power. Retrieved March 4, 2009 .
  6. ^ IQ Power AG: ad hoc announcement of November 13, 2008. Accessed December 11, 2009 .
  7. ↑ ARD: Shareholders jump on zero train. (No longer available online.) January 30, 2007, archived from the original on March 6, 2009 ; Retrieved March 4, 2009 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / boerse.ard.de
  8. ↑ ARD: Do iQ Power shareholders learn nothing? (No longer available online.) August 27, 2007, archived from the original on March 6, 2009 ; Retrieved March 4, 2009 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / boerse.ard.de
  9. ↑ ARD: iQ Power before bankruptcy? (No longer available online.) May 15, 2008, formerly in the original ; Retrieved March 4, 2009 .  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Toter Link / boerse.ard.de  
  10. ↑ ARD: iQ Power still under pressure. (No longer available online.) August 8, 2008, archived from the original on March 6, 2009 ; Retrieved March 4, 2009 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / boerse.ard.de
  11. ↑ Deutsche Börse: share price chart October 3, 2008 to March 3, 2009. (No longer available online.) Formerly in the original ; Retrieved March 4, 2009 .  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Toter Link / www.boerse-frankfurt.de  
  12. ↑ iQ Power AG: Board of Directors decides to register for insolvency proceedings. March 4, 2009. Retrieved March 4, 2009 .
  13. ↑ ARD: iQ Power - That was probably nothing. (No longer available online.) March 4, 2009, archived from the original on March 6, 2009 ; Retrieved March 4, 2009 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / boerse.ard.de
  14. ↑ Schweizerisches Handelsamtsblatt (SHAB) : bankruptcies. (No longer available online.) June 5, 2009, formerly in the original ; Retrieved June 7, 2009 .  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Dead Link / www.shab.ch  
  15. ↑ ARD: Is iQ Power fooling investors? (No longer available online.) June 5, 2009, archived from the original on June 7, 2009 ; Retrieved June 7, 2009 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / boerse.ard.de
  16. ↑ Current media releases from iQ Power company news after the bankruptcy was lifted
  17. ↑ IQ Power