Good Morning and Happy New Year,
We hope the holidays were great for everyone. Here at XsunX, we invested significant time over the holidays working with the CIGSolar® evaporator and got a lot accomplished. Our goal has been to complete the initial calibration as soon as possible and it looks as if we can achieve that goal as soon as this coming weekend.
The crucibles, which are the "make it or break it" aspect to quality co-evaporation films, have been delivering excellent results. This achievement is not as simple as it sounds. In order to function correctly the crucible heaters, insulation, and nozzles have to each perform to exacting specifications so that each atom of the various metals leaving each crucible retains sufficient energy to deposit correctly onto the substrates. The good news is that the design is working according to plan and we anticipate producing good quality CIGS and CIS films in the near future.
A lot of hard work and effort has gone into our recent accomplishments and while getting to this point has not been easy, or as quick as all of us would have liked, we are excited about these promising results. Our plan has been to deliver to the solar industry a cost-effective alternative to the use of traditional silicon solar cells. Given silicon's current broad use in the market and the fact that operating margins for silicon manufacturers have plummeted to near zero, both our customers and we believe this plan is targeting the right market place at the right time.
To achieve the goals we set for 2012 was not easy. In a challenging environment, we had to look at how to accomplish objectives in ways that are more creative and without the aid of hundreds of millions of dollars or hundreds of employees (which in some instances proved not to be the key to success for some now defunct thin film technologies that did have these resources). The successful purpose of these efforts has been to complete the CIGSolar® evaporator and move towards delivering a marketable technology while adapting to the new market realities.
Thanks for your time and support, wishing you a very prosperous New Year, and we look forward to announcing the successful production of good quality CIGS and CIS films in the near future.
Tom Djokovich, CEO
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.