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PWON > SEC Filings for PWON > Form 10-Q on 15-Nov-2013All Recent SEC Filings

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Form 10-Q for POWIN CORP


15-Nov-2013

Quarterly Report


Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

Note Regarding Forward Looking Statements

This information should be read in conjunction with the audited consolidated financial statements and notes thereto and Management's Discussion and Analysis of Financial Condition and Results of Operations contained in our Annual Report on Form 10-K for the year ended December 31, 2012 as filed with the Securities and Exchange Commission on April 16, 2013, and the unaudited condensed interim consolidated financial statements and notes thereto included in this Quarterly Report.


References to "Powin," the "Company," "we," "our" and "us" refer to Powin Corporation and its wholly owned and majority-owned subsidiaries, unless the context otherwise specifically defines.

Overview

Powin Corporation has relationships with various manufacturers in China and Taiwan that manufacture a variety of products for the Company's U.S. customers that they sell and distribute throughout the U.S. In addition, the Company owns an 85% interest in a manufacturing joint venture in Mexico. The Company's customer base includes distributors in the transportation, medical, sports, camping, fitness, packaging and furniture industries.

In addition to providing manufacturing coordination and distribution support for original equipment manufacturers, the Company sells its own proprietary products through its CPP and Powin Energy subsidiaries. Powin Energy is working to develop and commercialize energy storage systems based on lithium battery technology for the transportation, utility and commercial building markets.

Critical Accounting Policies

Our significant accounting policies are summarized in Note 1 of our unaudited condensed consolidated financial statements.

Results of Operations

Comparison of three months ended September 30, 2013 and September 30, 2012

The following tables set forth key components of the Company's results of operations (unaudited), for the three months ended September 30, 2013 and 2012, in dollars of sales revenue and its key segments of revenue.

Operating revenues and expenses of each of the Company's segments are as follows:

For the three-months ended September 30, 2013 and 2012

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