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I either missed that post or simply forgot that post, thanks for clearing it up, reminded me.... That is what I felt they would do 2-3 months ago. Wish I could free up some cash in other places to add here. If I had plenty of cash, I would not mind the slow bleeding wait, LOL, I would be sneaking up on more cheap shares and grabbing cheap ones here. I never thought we would get back to these prices, but I was not expecting a 5-6 month dead-lag spot in the news and action back in Feb either.
That IMHO, is the best news, no change in equity, no dilution!!!
Loss? I have not owned ABAT since just before it hit $20/share, when I sold all and moved the sidelines.
I am talking about buying back in, not adding.
I have been waiting for the bottom for over a year to start buying. I like investing Warren Buffet style, buy when there is a sea of blood in the street.
LOL, now I know ANX is going higher. I can by all the new posts today, that came out of no where that sound like shorts posting attacks in a panic, LOL!
LOL, on the woodshed. It could get murdered this summer down as low as .25, but some of these guys, like Harbin, and ABAT have announce huge share buybacks in the last week (game may be changing), so I may grab some shares finally on this first days plunge when trading resumes if I get them at a steep discount under $1, says 50 to 75 cents, as APWR may fire back with some kind of news to try and battle the shorts at $1 first.
Long term I feel real safe buying this one at $1, but I will buy slowly over time, as it may be 6-12 months before the financials mess is all rechecked and re-reported (I am basing this on how long it took CGYV to redo theirs).
But I agree, the news is getting so bad, we may see a finally flash crash bottom on this one when trading resumes.
I WISH I knew what that meant?
CBAK stock holders equity is around $2/share. They can't keep it down for ever. They spent $2 million on R&D which was equal to their net earnings loss, so they are at break even before R&D expense, and they are deducting R&D as an expense (not capitalizing it), so it is a no brainer over sold stock here. Losses have been steadily heading to zero last 8 quarters, and the next quarter may show a small profit, and the next quarter after that could be gang busters. They cleaned out old inventory, took the losses already, same for bad debts, so they should be lean and mean now, and EV Li-ion battery sales (bikes, scooters....) were PR'd recently as taking off vertically. And if SAMSUNG announces an order soon, boom!
Margin for shorts changes big time below versus above $1, so this will be the battle line at $1/share.
And so the SHORT battle for $1 begins! LONG live the LONGs!!! Go ABAT LONGS!!!!
My Short lunch was good! LOL, time for a short cake snack now!
Come on ABAT stockholders, it is time to squeeze these shorts back into the dark ages!!!
They were related industry news, potential competitors to AXPW in the new Start-Stop target market, and an indication that 2 large competitors think that market is about to pick up, otherwise they would not be targeting it as the news suggested. I was in a hurry at the time, and I sort of expected that Mr. Peterson would have commented on those news bits by now, since that is ONE of his favorite AXPW market application topics?
I am running a special on ABAT SHORT Sandwiches for lunch today!!!!
This looks like it could turn into a short covering rout all the way to $2 today, based on this recent spike and huge volume!
I added to my shares early this morning!!!
A few thoughts this morning. The current administration would actually be far more favorable to NG and to helping CABN convert CO2 and NG into fuels and oils, far more favorable than the other side. They see NG as the green opportunity (Far more favorable than coal in the GHG equation) and reuse of CO2 in a plan like CABN has has the golden opportunity (once again addressing the GHG issue). The problem is that there are always factions in the environmental camps (not necessarily Dem or Rep) that are fighting unregulated fracking of wells and they will soon be dragging us into court cases, that could slow the glut of NG production for a while. They might also slow the permitting process for a new process like CABN might bring to NG wells (as the CABN process will need cooling water, and discharge permits near the well site), but rest assured the current administration would spearhead and favor the permitting of what CABN has to offer.
The problem at times is old regulations that are law, that must be followed because they are current law, and the need for new (simpler) regulation that covers new inventions (which takes time to write, debate and pass), and that can slow the rush to implement new technology, so as investors we need to be aware of how fast or slow that process can take (I personally fought that battle my self with my own CABN like start up in 2000). IMHO the old administration would not have favored the CABN technology, but instead favored high oil and gas prices and wars to protect the oil in the ME (Dick Cheney, ex CEO of Halibuton), and did not give a damn about CO2 GHG emissions, but that is just my opinion.
While the EPA gets routinely caught in the political grinder, what we have with the EPA is far better than what we had in the 1960s with no EPA. You can now find fish in the Houston ship channel, instead of a sea of toxic oil laden flammable muck floating on the surface, with nothing alive below it. The EPA was created by political pressure to clean up things like Love Canal (Google Love Canal, Hercules Chemnical) and the Houston ship channel...and so on, which were created them selves by out of control public entities, such as school districts and City administrations (See "Love Canal, the other side of the story").
I once had a cartoon on my desk, this guy was looking at himself in the mirror, and the caption said "We have met the enemy" LOL.
Two of CSGH's customers got hammered at the close, last 3 minutes yesterday, only to rally 30% at the open today on major news. CBAK has been approved (audit passed) as a cell phone battery supplier to SAMSUNG, and ABAT just announced a $10 million share buyback program. China stocks are starting to fight back and take it to the shorts!!
New 8-K (prelude to buy out at $16 someday?):
Not sure where you got your numbers. Did did you mean PE is 1.54X? Book value is way higher, about $3/share, and they have $1.10/share in cash, nearly $1.75 in short term assets (plants, equipment, inventory and cash). Also ABAT has no debt at all!
News is out on CBAK, Samsung approval of CBAK as a cell phone battery vendor, it was up 35% at the open (more proof IMHO that somebody knew something and played both of these at the close yesterday hammering them down to cover shorts before the news cooked their gooses, one of the reasons I never use stop losses):
Samsung approval was the news trigger! $3/share in the next 30 days?
Good question as it reminds me about another real potential problem and issue, the fact that no new refineries have been built in the USA in over 35 plus years, due to the huge economic design penalties of new source federal rules for new sources of air emissions (EPA). Most old sources (refineries) have been grandfathered. That changed some in Texas the last 10 years, but Texas and EPA are in court fighting over the rules and jurisdiction right now (especially over integrated refinery and chemical plant complexes), which can slow funding and expansion of any kind. One of the jobs I do (hats I wear), is EPA, TCEQ permitting and environmental reporting.
Not entirely sure how they would treat or permit a mini reactor plant at a well converting NG into oil at the well head. More likely they would build it in Mexico, or offshore (?), or in Canada? Quatar is still part of the equation because they and Shell plan to, and will want to export the final products to places like the USA, with the value added prices, instead of just LNG.
EPA might get arm twisted with DOE help into fast tracking permitting it if converts CO2 into fuel, etc, but the EPA moves like a snail or turtle on new things, so don't expect to see permits issued over night.
When looking at risking hard earned cash, you need to look at potential roadblocks that can derail the train before it gets to its destination.
US military might fund design work and tests on small portable systems for use in the field?
Shell is doing a different reaction. They are using O2 and steam. CABND is using CO2 and is not using steam (water) or O2 and is using a lower temperature.
The pipe line tie in will be in 2 stages (per Gerry-IR now Dir). There is an existing pipeline with existing unused capacity they will be tying into right after the well completion (fracking), stage 1. It will generate revenue this year, baring acts of God, war, US Congress, LOL. They already ordered the equipment and pipe for that connection months ago if I understood what Gerry told me correctly at the time. I know he said they ordered all the long lead time stuff back in February/March, like the special pipe.
But the well can produce far more flow than the existing pipeline can handle. So what you read about is stage #2, the need to size the additional pipeline capacity needed and then JV (or whatever) a deal to fund and build the additional pipeline infrastructure needed to handle the peak well capacity.
Stage one is expected to produce revenue of about $250,000.00 / month.
Or buy Shell stock? I have been quite impressed with many things I have read about Shell this year.
One thing is for sure, if we figure out which one of these will survive and thrive, and time our entry properly, we will make serious money. I have hedged my bets by betting on US Shale NG for instance, while it so cheap. As they will need NG as a feed stock for some of these ideas and processes, and BTU/BTU cost of oil versus NG is about a 5:1 ratio right now. I got into CABN originally because they were going to leap over and skip multiple nasty, hard to control, expensive biomass steps needed to use algae, and they were going the use the Algae-like organic enzymes at near room temperature to convert CO2 into a liquid fuel. I got into MVTG because of the Chemical engineering professor behind their science (also one of the reasons I first got into CABN), and the over all plan to make a liquid (formic acid) that has multiple uses (including fuel for fuel cells in cars) out of CO2, water and electricity, and I have been watching others like the one Kenny posted an article on....like OOIL, that says they have solved one step of the major problems facing Algae oil.....
When CABN was working on the organic enzyme path, it was going to require entire new plants, equipment, processes, major JV partners, and big amounts of capital (so lots of dollars in revenue, and thus large dollar profit potential). This new direction, has the upside of perhaps being a plug and play drop in, but what value would an integrated plant operator like Shell who already has billion dollar plants put on such a new catalyst? What is to stop them from using the formula royalty free in Quatar with no one knowing they are using it (secrecy)? How much can CABND expect to earn as a middle man on a license only deal (no added value from building their own plant) to someone like Shell? There are I think 2 or 3 major firms that make most of the catalysts used in the worlds reactors, and none of them are huge companies, like many expect CABN to turn into.
Then the big, big question is, how easy will it be to engineer around the patent now that it is published, with a nearly as good as catalyst, with out paying a royalty if CABND asks for too much for the royalty prices?
My first read on the patent tells me it had top notch patent (Chemical Engineer patent) attorney's writing it so it may be a huge $$$$$ patent. Time will tell.
But what if all they can earn on licensing the one catalyst is $1 million dollars a year after several years of hard work marketing it?
One ray of light I still see, is if they can build and sell (rent or lease) mini reactors that are shipped to remote NG well sites that have too much CO2 in the well to be profitable to put to any other use, or to package and ship, they could make money that way. If they build, rent or license such beasts, then the well owners could produce a synthetic crude, or perhaps fuel (diesel?) for sale by tanker truck or pipeline from the well heads. I believe there are thousands of wells that have the CO2 problem. Also CO2 could be used to help pressure old wells and extract more CH4 with out CO2 dilution being a problem.
But right now all we hear about is the one catalyst for making syn gas. Perhaps they plan on using existing patents (license), or older GTL technology for the rest of the process, but they will need one more major cog in the wheel, a fabrication, construction, installation, permit engineering firm to complete the final package deal, to design, build, permit install and commission the new mini plants! I hear nothing about that yet.
Since the Shell plant / process has hundreds of integrated steps, and feed back loops, key word being integrated, it would be a very complex 100 plus variable by 100 plus equation matrix (think Matrix algebra, Matrices) to try and calculate the net energy cost difference in swapping out the Syn gas formation step. I doubt Shell would even attempt it in such a new, huge integrated facility that has "thousands of Shell patents and 30 years of work invested in the entire complexes design.
The energy balance in the single syngas formation reactor step, is not as simple as just looking at the operating temperature. It involves backing up and looking at the energy input to make the O2 gas for the Shell reactor first. Making pure O2 is energy intensive itself.
Energy balance in a reactor is calculated this way:
http://www.adeptscience.co.uk/products/mathsim/mathcad/add-ons/free_ebooks/m_e_bal_samp.htm
Pretty simple calculation, LOL.
Take a look at #3, for a simple english version of a non-reactive energy balance just for flow in and out of a system:
http://www.engin.umich.edu/~cre/course/lectures/eight/index.htm#sec2
and
http://en.wikipedia.org/wiki/Mass_balance
http://en.wikipedia.org/wiki/Thermodynamics
One more reason I am so bullish on MNLU NG!
http://www.shell.com/home/content/aboutshell/our_strategy/major_projects_2/pearl/set_for_production/
Until they are converted and issued and registered with the SEC as sellable they are not part of the float (they are trapped), they can not be borrowed to be shorted, and therefore have no effect on the supply-demand price equilibrium day to day. They may have a future discount, baked into the stock price effect, that depresses the stock price based on future expectations of an increased float that can be more easily shorted in the future, etc.
The big question today, is will the cash burn end, at the end of this year as some analysts have predicted? Also, with the huge new plant in NY fully operational for show and tell, will we see a rush of new orders over the next year?
Do some math. If NG is selling at $4, and the big boys like Exxon paid $1.50 to $2 for reserves in the last year buy outs (some still needing additional wells drilled, but a sort of proven reserves basis purchase), when NG was selling at $2.50-$3.50, What does that tell you about the cost to deliver it?
If a well is a dud, or has too much CO2 the cost is infinite, as the denominator goes to zero, cost to produce/actual production goes to infinity as the denominator goes to zero, so with some wells being great wells, and others being duds, there must be a huge spread of examples? I think a well like the new MNLU well could have a cost of $1 with so much gas and pressure?
Everyone was quoting $2.5 as the break even for the lowest cost producer in 2009, KWK.
This showed up on my radar today:
http://www.flowcontrolnetwork.com/applications/energy/article/us-epa-announces-7-case-studies-on-hydraulic-fracturing#en
Last 2-3 minutes were most of the volume on three of my stocks (longs) today, huge volume sell off (most likely short sales and covers all once, or?, IMHO).
HTM US geothermal power company also got hammered in the last 2 minutes, down on huge volume at the close. 98% of the volume was in the last 4 minutes, 1000% of the 90 day average volume traded in last 4 minutes, price was up 7-8% earlier in the day and closed down nearly 15% at a new 52 week low.
ABAT (7.2 million shares, about 5 million in the last 2 minutes)
CBAK was climbing all day, up nearly 10%, back up over $1, only to get hammered down 8.5% in the last 2 minutes, when 80% of the volume went off with about 1.4 million shares in 2 minutes at the close. (obvious game playing, manipulation going on of some sort...so is this still Russel 3000 adjustments for the end of June? If so what does it really mean, did the Russell 3000 add or sell shares to rebalance the fund?, any way to tell for sure?)
I think they all made new 52 week lows as a result.
Last 2-3 minutes were most of the volume on three of my stocks (longs) today, huge volume sell off (most likely short sales and covers all once, or?, IMHO).
CBAK was climbing all day, up nearly 10%, back up over $1, only to get hammered down 8.5% in the last 2 minutes, when 80% of the volume went off with about 1.4 million shares in 2 minutes at the close. (obvious game playing, manipulation going on of some sort...so is this still Russel 3000 adjustments for the end of June? If so what does it really mean, did the Russell 3000 add or sell shares to rebalance the fund?, any way to tell for sure?)
ABAT (7.2 million shares, about 5 million in the last 2 minutes)
HTM US geothermal power company also got hammered in the last 2 minutes, down on huge volume at the close. 98% of the volume was in the last 4 minutes, 1000% of the 90 day average volume traded in last 4 minutes, price was up 7-8% earlier in the day and closed down nearly 15% at a new 52 week low.
I think they all made new 52 week lows as a result.
Last 2-3 minutes were most of the volume on three of my stocks (longs) today, huge volume sell off (most likely short sales and covers all once, or?, IMHO).
ABAT (7.2 million shares, about 5 million in the last 2 minutes)
CBAK was climbing all day, up nearly 10%, back up over $1, only to get hammered down 8.5% in the last 2 minutes, when 80% of the volume went off with about 1.4 million shares in 2 minutes at the close. (obvious game playing, manipulation going on of some sort...so is this still Russel 3000 adjustments for the end of June? If so what does it really mean, did the Russell 3000 add or sell shares to rebalance the fund?, any way to tell for sure?)
HTM US geothermal power company also got hammered in the last 2 minutes, down on huge volume at the close. 98% of the volume was in the last 4 minutes, 1000% of the 90 day average volume traded in last 4 minutes, price was up 7-8% earlier in the day and closed down nearly 15% at a new 52 week low.
I think they all made new 52 week lows as a result.
Nice work. That confirms the kind of felling I got from earlier calls 4-8 weeks. Good to have some one else post phone call results. That reply makes me wonder what type of loan they are seeking. I don't think they would be diluting common shares to borrow money (due to the merger agreement with AEXP).
Could they be seeking a straight up asset loan since they are so far along, I wonder?
Maybe preferred shares, or convertible debt.
I am still holding all the shares I bought, never sold a single share. Why don't you call Walter and ask him what is happening?
Tell him to do something about releasing an update, even if it is just a target date for an update?
I am personally happy to see the new Autism site selling the IFUS products, which was PR'd a long time ago, but is now actually visible on the Autism association web site (Autism site I posted the link to recently). So at least there are some signs of life still.
Actually I was lucky I guess. I got a birds eye view (last 2 years) of what happens when a China/US reverse merger firm changes auditors to a top 4 firm (Deloitte...) and then announces the new auditor is going to redo the prior 2 years reports, because the new auditor "can not rely on the old reports" (OUCH!!!), so it took them 14+ months to redo 2 old annual reports, plus the new one that was already due, and the stock dropped another 80% in that 14 months. The funny part (or sad part) was the reworked, 2 old 10-K annual reports over reported losses, LOL!!!!!!
I bought the falling knife, the bottom and sold about 3-4 months ago (kept some shares) with a nice 400% gain. One of the keys was a 5 million dollar unsecured signature loan signed by the CEO to secure funding needed to secure the construction of their huge new plant they were building (now up and running....), the company was CYGV, which is slowly getting cheap again itself, and may be a buy soon, as they should have positive earnings finally by year end as the new plant has given them a 4x capacity boost, and they already have the 4X increase in orders. It was one of the first firms to go through this auditor swap out mess, which in my opinion has more to do with differences in accounting methods between China and the US (GAAP). These small cap hybrid China/US firms must do dual accounting for dual reports to China banks and Gov. agencies, and the US investors / SEC. It would be real interesting to see what kind of skeletons are rattling around under the rugs of huge international firms like GE with huge operations in China!!!!!
It is all about timing. I knew APWR was going to have huge working capital issues, would need to dilute to raise capital for all the large orders and projects (Texas Windfarm and factory), acquisitions, I new the GE Press was going to be bad (In spite of what I think of GE, which is not good, they are better off with out GE!!), and then with such a nasty chart already, the shorts just piled on. Now they are finally (like most US/China reverse merger small-micro-mid caps) going through the same auditor problems, I expect most of them will go through, which should make a huge value bottom for stocks like this one. They will survive, but the next 6 months will be bloody hell, especially if the Mexican standoff happens in Washington DC this summer over raising the US Debt ceiling, and scares the hell out of investors, yet one more time! Personally I hope Washington is not that stupid, but they proved otherwise in 2008 in their first failed vote on the bail out, after which WS crashed!
But a Phoenix will rise from the ashes, and I believe APWR will be one of them.
Nothing really shady about ABAT, and lights out is not going to happen. This one will survive, and in 5 years prices under $1 will look like the steal of a life time. In the mean time there will be huge volatility once it trades again, between .25 and $2 is even possible for highs and lows, depending on much damage control has been done before it trades again. While they have had huge earning misses, and huge revenue disappoints, like the wind sector, they have also had positive profits. Only question is now is how cheap will the bottom get. I will be a buyer at the bottom.
FWIW, go back and read my old posts here the last 2 years, where I predicted a pull back to under $5 while all the bulls were all giddy at prices between $8 to $20, LOL. I was right then too!
I went through this Auditor & director change panic nonsense before. One with a similar stock last 2 years and made good money buying the panic bottom on it while they cleaned up the prior auditors mess. It was CGYV.
Shame is not still trading, I could be buying sub dollar shares now.
I bet the shorts are unhappy too!!! They can not cover!!!
I have seen too many of them cut the dividend after the stock dropped 50% or more. Earthlink and PRGN to name two.
With the stock halted in trade, I guess right now is a good time for them to clean house and start over, regarding auditors and directors.
This will be interesting to watch!!!!
I bought in at $2, still holding. I am waiting to see if it goes to .50 to buy 500% more shares, if it gets there. I am in for the long haul on this one. Been watching this one for over 3 years. Been wanting shares for 3 years. Now thanks to those nasty shorts they are on a fire sale! This could be a $20 stock in 5 years IMHO.
Hard to say just how insane sellers will get here, before a hedge fund comes in and buys like crazy and runs it back to $3 or higher. We are already down to 1.5 PE ratio at this price.
I still do not believe this one is any kind of a fraud.
http://ir.convertedorganics.com/common/download/download.cfm?companyID=COIN&fileid=S1389445-11-5&filekey=1366340&filename=1389445-11-5.pdf
Another link to the CEO Form 4 showing him putting his own retirement IRA cash where his mouth is, finally!!!