ENER 1, INC. (fka HEVVQ)

[MABMAN8]

Ener1 doesn't appear to be going away. Check out link below referencing plans for street motorcycles with Ener1 batteries...

http://www.motorcycle-usa.com/845/11978/Motorcycle-Article/Worlds-Fastest-Electric---Lightning-Motorcycles.aspx

[MABMAN8]

Obviously the market likes what it's seeing!!

Up 36% so far today...

[MABMAN8]

Friday's announcement...

http://biz.yahoo.com/e/120106/hevv.pk8-k.html

[MABMAN8]

CC,

I'm not an expert on this stock, but I do hold 200K shares. Essentially, Ener1 lent THINK a large sum of money to keep it afloat. THINK went bankrupt and Ener1 realized it was going to have to restate earnings to reflect the loss. Ener1 missed a filings deadline and was delisted. The stock has been going backwards ever since...

Ener1 is also the target of multiple class-action suits. In a filing this fall, they used some very broad language to warn investors that the company was unsure of its future. I'm confident the language was simply to insulate them from further suits, however, I think the language may have spooked the market.

We are awaiting for Ener1 to restate past earnings and come current with its filings. Once that occurs, hopefully there will be an outline of a plan to get the company relisted. THINK is scheduled to a rebirth in March...

Other thoughts on the subject?

[Capitan Canada]

Hi All, can someone tell me what the deal is here? What happened to this stock to go down, management changes and delisting? I am new to this stock.

I do have ABAT shares, interested in this too....

Anyone with a quick run down, or points on this....thanks! I know do your own DD , lol but just so many to do, passing this one, looks interesting....
thnks

[MABMAN8]

Think is supposedly coming back online in March. If that happens, Ener1 will have a necessary revenue engine back in the game. It sounds like they are shifting away from smaller batteries and more towards grid technology, but it would be nice if they could manage both :)

[MABMAN8]

I think you are right. A lot of people got spooked by language in a fall filing stating that the ability of ENER1 to continue business was in question. However, with multiple class-action lawsuits, I think that statement was simply to cover their butts.

They are partnered with groups with some VERY deep pockets!!

[THEBROKE1]

http://seekingalpha.com/article/315675-understanding-the-grid-scale-energy-storage-boom

[irondog]

This goose is cooked...

look whats comin' down the pike:

http://news.yahoo.com/blogs/this-could-be-big-abc-news/smaller-more-powerful-batteries-140855500.html

[MadMiner]

I hope it's not 2-3 years...but i'm with you.

Hope within 6 months they can relist. Maybe this is too optimistic though?

Should see a good pop if they go back to the regular board.

Good luck.

[Trust-Intuition]

Jumped in this morning.

I had to buy a chunk to reduce my average cost and make up for my hasty buy in move at .20

I've been watching this company since it was a few bucks. Seems like at this price point and the big money investors that are still on board and buried in it, that they are in for a long ride as well.

Hopefully after a successful restructuring they will be back as a solid player in this market. I like to believe so.

Cheers to all that's in it for the long ride as well. My guess is two to three years. Turn a chunk of dough into a bakery.

Best regards.

[DeadCellShadix]

Thank you from the intel, Im not exactly positive as to how this one trade but I did miss the last run. Hmmmm, I will see where this goes and then maybe throw out a bid offer. Either way, thanks!

-DCS

[zsvq1p]

DeadC... I think the PR yesterday means the company is about to be heavily diluted. That was a bridge loan until the figure out how to make some cash (Which I cannot see this happening soon) or Grant or big loan.

Trade it like a penny stock... small investestment, in and out... make the bid and ask come to you... imo

[DeadCellShadix]

Is anyone thinking about getting in this during the A.M.?

[MadMiner]

Thanks for the heads up on the news update.

[dennisv]

Press Release, Ener1, Inc.
http://finance.yahoo.com/news/Ener1-Obtains-4-5-Million-prnews-4210996135.html?x=0&l=1

[zalo]

new sec. filing for hevv

[zsvq1p]

Seems to me this one will go like most penny stocks...

Russian will put some cash into company, do it by RS, screwing all current shareholders, yet giving himself enough shares to keep total control over the company.

I say no way another USA grant is coming give the Solyndra scam.

Electric cars are ahead of the times right now. It is going to take gasoline to reach at least $10+ a gallon for this stuff to take off. And meanwhile the auto companies are coming up with higher MPG cars.. it is going to be a long time before a car like the Think will be high demand.

Russians are mobsters anyway and you place enough money in this stock, they are gonna take it.

IMO.

[MABMAN8]

I agree in full with your post. There is plenty of existing business to justify forging ahead and our friends from Russia are not about to let this sink.

As I see it, there are three additional opportunities for a bump in the stock in the short term:
- Filing financials with SEC. They will be ugly, but that's why were priced the way we're priced right now. I expect this filing to to accompanied by a statement regarding plans for relisting.
- Official announcement of filing for relisting.
- Think production restarts. This is expected within the next 4.5 months.

A fourth opportunity for a big bump would be an announcement from NASDAQ stating a positive outlook regarding relisting.

Getting back to a dollar is very realistic IMO...

[Givvenerr]

One of several reasons it went down today. One is European Market outlook not good and the DOW dropped 389pts. Two someone that held 300k shares dropped their shares all at once bringing the price down. Three someone got scared about the change in management.

Ultimately the whole reason its down is because of Think and the need to revise the financials. Rich folks, upset they lost money so they sued...big deal less than $400k from a company who's market cap used to be a Bil $.

Heres how I see it...The Russian investor Boris has over 80 Mil shares of HEVV and has been invested in Ener1 since 2002. So he's not going to take a loss on his time n money by filing bankruptcy. He wants the price of his shares to go back up....so that's why he bought Think after they closed the door. He has plans to start manufacturing in Finland by next spring.
Ener1 also has a grid contract for $40m in Russia, where this dude is the 75th richest Russian...So he has major pull. He also owns Paper Mills everywhere, so the dude has the money to single handedly keep Ener1 afloat. The chinese contract with Wanxiang is worth $120M and that company is worth $10B.

I actually think this is the time to buy...as Buffett says, when people are bearish be bullish.

Good Luck to you all!!

[shawky99]

Does any one know what happened today ? Why it went down like this

[puddler]

No massive sell off sounds good..so far

[dfh]

Any thoughts on the house cleaning of management?
Ener1 Announces Changes to Senior Management Team to Aid in Continued Business Transformation
Alex Sorokin and Dale Parker Join Company as Interim CEO & Interim CFO, respectively; Nicholas Brunero Steps into Interim President Role
Former CEO and CFO to Consult with Company through Transition

NEW YORK, Nov. 7, 2011 /PRNewswire/ -- Ener1, Inc. (OTC:HEVV.ob - News) today announced that Alex Sorokin has joined the company as interim chief executive officer to lead the company's continuing efforts to improve its performance and shift its business toward heavy-duty transportation and electric grid energy storage applications. Nicholas Brunero, who has served as Ener1's general counsel since 2008, has accepted the additional role of interim president. In addition, Dale E. Parker, a seasoned financial executive and currently chairman of the board of HickoryTech Corporation (NASDAQ:HTCO - News), will serve as interim chief financial officer.

Both Chris Cowger, who most recently served as chief executive officer, and Jeffrey Seidel who served as chief financial officer, have resigned from the company. Messrs. Cowger and Seidel will remain available to management under new consulting agreements to ensure a smooth transition and assist in the company's transformation efforts.

"Alex and Dale bring a strong combination of operational and financial expertise with companies that are undergoing change," said Thomas J. Snyder, non-executive chairman of the board, Ener1, Inc. "Together with Nick Brunero, who has been a part of nearly every facet of our business over the last three-and-a-half years, they will sharpen our focus on how we leverage Ener1's energy storage expertise, while implementing a sustainable structure to support our go-forward business strategy. We want to thank Chris and Jeff for their service to the company, and for their commitment to its potential, and we're pleased that they will continue to work with us to position the company for the future."

Mr. Sorokin brings nearly thirty years of experience successfully leading companies through periods of transition and transformation. Prior to joining Ener1, he has assisted more than 30 companies in restructuring and improving their businesses in the U.S. and internationally across a range of industries including technology, transportation and heavy manufacturing. He is a graduate of Johns Hopkins University.

Mr. Brunero has served as vice president, general counsel and corporate secretary of Ener1 since January 2010. He was previously the company's vice president and deputy general counsel from March 2008 to December 2009. Prior to joining the company, Mr. Brunero was an attorney at the law firm of Duval & Stachenfeld LLP, where his practice focused primarily on the representation of financial institutions in connection with commercial litigations. He received his bachelor's degree from Bates College and his J.D. degree from Brooklyn Law School. He will retain his general counsel responsibilities, in addition to his new role as interim president.

In addition to his role as chairman of the board of HickoryTech, Mr. Parker served in senior financial positions for industrial companies, including as CFO of Neenah Industries, PaperWorks Industries, Forest Resources and Appleton Papers. From 1975 to 2000, he held financial positions of increasing responsibility at Black Clawson Companies, a manufacturer of capital equipment for the paper and plastics industries. He received his MBA from Xavier University and his bachelor's degree from Miami University in Ohio. Mr. Parker is also a Certified Public Accountant.

[maddawg2020]

I believe the NASDAQ also has a requirement that the stock trade above $1 for 30 days before re-listing.

[starbuxsux]

I disagree...there's PLENTY of down side still...

[hondaboost]

Right now, I'm just waiting for its rebouncing to bail out before X-mas!

It might take a few months for Their re-stating of financial. The re-stated financial must be worse than the current ones.

Very Speculative, it seems.

[hondaboost]

Last year 10Q, they had $15 million losses, or $0.13/share;
This year 10Q, they had $84 million losses, or $0.51/share;

Cash:
As of Dec 31, 2010: $60 million;
As of Mar 31, 2011: $19 million;

It burnt $40 million in 3 months, or $13 million/month.

Its $19 million cash must have been burnt out in May, Already and has no cash At All now!!! Since May.

From where did you get the info. that they have enough cash to struggle to Mar 31, 2012?

[THEBROKE1]

it is 1 of nasdaq rules a company must file quarterly earnings but i believe they are filed to the sec not actually nasdaq. that is why they were delisted not filing in a timely manner no fraud just a honest mix up.should have filed the think loss 4q 2010 instead of 1q 2011 that's all will be taken care of shortly.

[dennisv]

Here's some good information!
http://www.indianaeconomicdigest.net/main.asp?SectionID=31&SubSectionID=133&ArticleID=58303

[tommer]

ps insiders still hold the majority of shares today....
I would agree if the markets in general are down this could go down alittle from here, but not back to the bottom I dont think

[tommer]

as usual certain statements made on these boards must be taken with a grain of salt....The reason that they were delisted was that the think global BK wasnt properly accounted for in the 10q here:
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001144204-11-027657%2Etxt&FilePath=%5C2011%5C05%5C10%5C&CoName=ENER1+INC&FormType=10-Q&RcvdDate=5%2F10%2F2011&pdf=

probably best to go on facts and not heresay....
It may only take them another 1-2 months to relist....
they have been working on it since august....
They have enough cash on hand to make it thru march 31st 2012 right now according to the 10q I posted....not exactly a company that is teetering is it?
gl
tommer

[hondaboost]

HEVV must re-state their financial from 2010. This needs lots of work/time and will take months.

Obviously, NASDAQ has found some fake numbers in their financial, which is somewhat accounting fraud. That was why it was delisted.

Right now, I'm afraid that the possibility is very small for its re-listing.

Will be very cautious now.

[tommer]

think global wiki

http://en.wikipedia.org/wiki/Think_Global

[charr992000]

i like the pattern here.....30 cents next week imo

[dennisv]

There's Only One Way to Go, It's Up!!!

[hondaboost]

Is it going triple bottoms at $0.09? It went to $0.09 twice in a month. Very scary now.

[shawky99]

Any good news soon?

[deeperfect]

Lets go bulls! 5 day winning streak?!

[grawsha]

Make it 200%. HEVV could very well see .5 once re-listing news is out.
http://finance.yahoo.com/q?s=APWR.PK

[MABMAN8]

It looks like it was just over a month from the time to when the stock was delisted, until they submitted financials and received positive news from NASDAQ. A BIG jump by HEVV could happen very quickly!!

[hondaboost]

That's really encouraging. The day will come for HEVV soon.

[maddawg2020]

Also, I believe that the stock needs to trade above $1 for 30 days before they can be reinstated on NASDAQ.

[grawsha]

APWR.pk gained some 130% today after announcing it plans to rel-list on NAS.
http://finance.yahoo.com/q?s=APWR.PK

[hondaboost]

HEVV, 52 week high $6. The insiders/funds are holding 80% of S/O. It got $100 million government grants and will get $54 million more later.

The reason that it went to pinksheets was it didn't file its Quarterly financial and is currently working on it. Once it's done, the company said it will apply for re-listing on NASDAQ. It might then go back to dollars ranges.

[grawsha]

Interesting piece of news I found it on HEVV YB.

Ford: All-Electric Car Now For Sale
http://www.thestreet.com/story/11297779/1/ford-all-electric-car-now-for-sale.html

[grawsha]

There is no exact date, once the company finishes the re-auditing it will file with the SEC and apply for rel-listing on NAS.

[dfh]

Good article, thanks. eom

[hondaboost]

HEVV said it will apply for Re-listing on NASDAQ. Anybody has any idea around when?

Thanks.

"Once we get our financials restated, we'll look at what our options are for getting re-listed," Ener1 spokesperson Brian Sinderson told CBS News. Sinderson says the company is now traded on the over the counter market."

http://www.cbsnews.com/8301-31727_162-20127308-10391695/another-solyndra-electric-car-battery-maker-facing-financial-hardship/

If it gets re-listed, it might go back to dollar ranges.

Watching it closely and will buy some.

[deeperfect]

Very healthy trading here

[cytis]

sometimes those move the best. people over react and slowly from the inside out people realize it either is a ridiculous suit, or things arent as bad as they thought = big upside. and just as people can overreact to drive things down, they can also help overreact to the upside!