Ideal Power: Slips as co names new CEO
15/04/2020 13:51
** Energy equipment maker's shares IPWR.O fall 15.6% to
$2.10 premarket
** IPWR says CEO Dr. Lon Bell has retired from his position;
to stay on as chairman through remainder of his current term
** Co names insider Dan Brdar as CEO
** Co also submits applications for both Economic Injury
Disaster loan as well as a Payroll Protection Program loan to
federal government urn:newsml:reuters.com:*:nGNXX4Ddz
** Co, which had raised substantial doubt about its ability
to continue as a going concern, had $3.1 mln in cash and cash
equivalents as of Dec. 31 (https://bit.ly/34BBPyZ)
** In its latest 10-K filing, co had flagged its need for
additional financing to execute its plans and fund operations
** Stock up 8.6% YTD
(Reporting by Shradha Singh in Bengaluru)
((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))