SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: August 2, 2011
XSUNX, INC.
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(Exact name of registrant as specified in its charter)
| Colorado | 000-29621 | 84-1384159 |
| (State of Other Jurisdiction | (Commission File | (IRS Employer |
| Of Incorporation) | Number) | Identification No.) |
65 Enterprise, Aliso Viejo, CA 92656
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(New address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (949) 330-8060
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
□ Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
□ Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
□ Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On August 2, 2011, XsunX, Inc., a Colorado corporation (the “Company”) released a letter to shareholders (the “Shareholder Newsletter”) providing information to the Company’s efforts to develop and market a new hybrid manufacturing technology for the mass production of Copper Indium Gallium (di) Selenide (CIGS) thin film solar cells.
The Shareholder Newsletter provides information regarding the Company’s recent filing with U.S. Patent Office under which the Company is working to seek patent protection for the proprietary designs of its thermal evaporation source technology.
The Shareholder Newsletter also outlines how recent publicity associated with conformation by the National Renewable Energy Laboratories of 16.36% peak conversion efficiency for the Company’s CIGS thin film solar cell technology has created an increase in licensing interest from within the Company’s target market of solar module manufacturers.
A copy of the Shareholder Newsletter is attached hereto as Exhibit 99.1 and is hereby incorporated by reference into this Item 8.01.
Item 9.01 Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibit
| EXHIBIT NO. | DESCRIPTION | LOCATION |
| 99.1 | Shareholder Newsletter, dated August 2, 2011 | Provided herewith |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| XSUNX, INC. | ||
| Date: August 2, 2011 | By: | /s/ Tom M. Djokovich |
|
Tom M. Djokovich | ||
| Title: CEO/Secretary | ||
XsunX Technology and Business Update
Aliso Viejo, CA – August 2, 2011
July produced some great progress and news for XsunX, starting with confirmation from NREL of 16.36% peak conversion efficiency for our CIGSolar™ process and ending with a bang when we filed with the U.S. Patent Office last week for the proprietary design of our thermal evaporation source: a key differentiator to our CIGS thin film solar technology.
Unique to our CIGSolar™ technology is our use of small-area continuous processing to mass produce individual CIGS solar cells. Key to accomplishing this task is the design of the proprietary heating element for our evaporation source which is necessary to produce and maintain high thermal uniformity. In addition, our evaporation source design has a unique adjustment feature allowing you to fine tune the source position, thus insuring the best thin film uniformity. Together these features are important parts to our patent claims and may make these sources attractive solutions to a number of industries.
In regards to the build-out of our new CIGSolar™ tool, the commercial size thermal evaporation sources necessary for the build are scheduled to arrive the first week of September. We have also been working with chamber component suppliers trying to coordinate delivery of our CIGS processing chamber parts as close to that time as possible. Our goal is to begin assembly of the new multi-chamber CIGSolar™ tool and begin the start-up process and calibration as soon as possible.
Finally, the publicity associated with the recent NREL test results have become a lightning rod attracting new potential licensees. Most recently, new start-ups in the U.S., existing module manufacturers in Europe, India, and China, and resurgence in interest from established firms in Korea, are keeping us very busy. Many of these entities have expressed interest in site visits to review our technology and to work out details in license agreements. All in all, the interest and demand for our technology has been developing very well and to support this current (and any future) demand, the timing of our tool and facility build-out is ideal.
Thanks for your time and have a great week.
The XsunX Team
To learn more about XsunX’s’ breakthrough technology please visit http://www.xsunx.com , and follow us on Twitter and Facebook.
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.