Good Morning and Happy Holidays,
Thank you to all of our shareholders for your support this year. With the year quickly coming to a close, and a week shortened with holidays, we still wanted to send out a short update and thank our shareholders.
In 2012, we have accomplished significant progress towards achievement of our business development efforts and we are much closer to realizing our goals to commercialize our CIGSolar® technology. With the completion of the assembly of our system and the current work towards preparing the tool for customer demonstrations, we are on the verge of providing the solar industry with alternatives to traditional silicon dominance.
Through this holiday season, we have not been idle and with Christmas behind us this week, we headed back into the shop to continue calibration and process development of our CIGSolar® evaporation system. This week Robert Wendt has joined us on-site providing his many years of CIGS development and processing experience contributing to the calibration of the system.
With any new system, there are always ways to improve and streamline to make operation easier and processing more accurate. Over the last few weeks, we have designed and implemented upgrades to the system to enhance transfer of substrates between chambers and we have added a second cooling system to add back-up capabilities in case one system fails in the future. These, and other future upgrades we may devise, are part of our technology-licensing plan to continually improve the CIGSolar® process and systems and pass those improvements to our customers.
Thanks for your time, have a great holiday week, a very prosperous New Year, and we look forward to sharing business developments in the near future.
The XsunX Team
To learn more about XsunX's' breakthrough technology please visit https://xsunx.com.
Safe Harbor Statement: Matters discussed in this shareholder newsletter contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this shareholder newsletter, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.