$NPWZ News - Neah Power Systems Issues Letter to Shareholders - Part I

BOTHELL, Washington, - (http://www.financialnewsmedia.com News Alert) - Highlights continued progress and discusses commercialization, ongoing business initiatives in Part II on Dec 2 2015 - Neah Power Systems, Inc. (OTCBB: NPWZ) (OTC: NPWZ) - today issued the following letter to shareholders. Dear Fellow Shareholders: Over the last six months, NEAH Power Systems has witnessed a tremendous response to our products and technologies. Recently, we have announced teaming agreements with several leading companies in the security/defense, robotics and mobile electronics industries. Additionally, we have expanded industry relationships with battery and fuel cell suppliers and manufacturers and have entered into discussions with multiple strategic partners regarding the license, sale and manufacture of NEAH Power\'s products. To help facilitate and manage this growth the Company, has also expanded with the addition of several key consultants and advisors bringing high value associations including potential co-development sponsors within the U.S. Government. All of this, together with other significant advancements, is expected to open the door to the use of our products in several rapidly expanding markets, including transportation/automotive, distributed energy/smart grid infrastructure and telecommunications, and result in significant revenue growth. Dr. Chris D\'Couto was also interviewed by Money TV(R), which can be seen here https://vimeo.com/145571430



As to current capital-raising efforts, the company had previously entered into a senior secured loan agreement with a Connecticut based investment fund. The loan agreement provides for $6 million in debt financing with an initial draw down of $4.5 million at closing. For each drawdown, interest is accrued at LIBOR plus 4% with maximum interest rate of 6%. There is no repayment within the first three years. Additional details will be provided at the time of funding. While we have had significant delays, the Investor believes that this funding is expected to close sometime in 4Q 2015 based on latest guidance. Due diligence by the investor has gone well, and both parties have agreed to final documents, which will be executed at funding. We are receiving status updates on an almost daily basis.



A Note to Potential Investors: the Securities...