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They stopped trading for different reasons. The one I find most troubling is JGBO, as I had been watching it for a year or more Tempted to buy in, but never quite did), and I did not see any typical warning signs, other than a steady sell off of a profitable reporting company. The others (17) that I checked out, had long standing major issues, but I did not take the time to check them all out. Some had PRs that differed from 8-Ks, and pump and dump PRs, with no 8-K back ups I think. Big no-no. But the SEC has given no public, detailed reason for stopping the trading of JGBO, which tells me a trading halt can happen unexpectedly on any stock, so I am taking extra care to be sure what I trade and hold long now. I knew there were issues with CBEH (short article atacks, fired auditors...), but I did not expect a trading halt on it either (maybe I should have on that one).
I played one successfully in 09-10, that went to the pink sheets because they fired the auditors and started over from scratch with a top 4 firm (Deloite IIRC), but the new auditor went back 2 years to restate old earnings so the stock dropped 80% for a year, while the new auditor took 12 months to redo 3 years of reports. IN the end the old reports under reported by earnings by about 5%, so it was lll to do about nothing, LOL. I bought the slide and bottom on that one as others panicked in several MM raids, and I held, and made a tidy sum off of that one and sold the last highs. But it was a varifiable brick and mortar company, 200 engineers, firm designing and building waste heat to energy recovery systems for chemical plants, with orders in house, reporting small net losses, but building a 5X larger plant for new orders.....CGYV.
Wish I knew more, and could tell more.
While most of what you posted is correct, but they do have two kinds of preferred shares they can sell to accredited investors, that do not affect the retail common share market (OS, AS and float). If you look back, the last SEC report showed some preferred shares sold to raise a little cash, which I suspect was used to pay for filing the last 10-K, paying the accountant, and covering the last trade show exhibit costs.
I can't help but wonder why they have not raised the AS, and diluted further, or done a RS already. Perhaps they are trying something different, like letting the company grow organically, now that they have a product, and inventory. I think most of the money they raised went into the product development and inventory. IIRC, they never really raised a lot of money, before the stock price collapsed anyway. I am still hoping for extra innings here and a hail mary pass. All they need is one good solid contract with a name like Walmart to stock the product.
I must admit, it would be nice to see some kind of PR, saying they are working some kind of plan. For now the web sites selling the product will have to do as evidence they are even still in business. I am curious as to how many repeat customers they have now? Even if it is only a few hundred or thousand? Are sales increasing at all?
I can still find no NASDAQ info on why they pulled the plug or when or if those 2 China stocks will ever trade again on Nasdaq. Seems NASDAQ is killing any news or release of info from both sides, until NASDAQ gets their answers from the companies.
At least the 17 OTC stocks the SEC halted, look like they will be allowed to trade again on June 21, if they comply with SEC demands by then.
From what I have seen, some of the China stocks that got hit, looked like they would be far easier to scam auditors (for example the media-advertising one), then say this one, or ABAT. Brick and mortar, and batteries are little harder to scam inventory, and manufacturing capacity. It was nice to see today's PR list major customers!!!!
None of those 17 OTC companies were Chinese, they were Houston, Austin-TX, Florida, NY, NV, Washington, and California companies!
http://www.futuresmag.com/News/2011/6/Pages/SEC-suspends-trading-in-17-microcap-stocks-to-fight-fraud.aspx
All were being pumped, and were way behind on SEC reports, and or the SEC reports differed greatly from the PR pump news.
Some examples of the promotions are as follows:
* Calypso Wireless Inc. has not filed periodic reports since February 2008, when it filed a report for the period ending Sept. 30, 2007. Despite that, the company’s share price rose from 4 cents on Sept. 21, 2011 to an intra-day high of 17 cents on Sept. 24, 2011. Over the same period, trading volume jumped to nearly six million shares, up from 376,000 shares. On Sept. 24, 2011, a stock-promoting website encouraged investors to continue buying Calypso Wireless shares (PINK: CLYW, CLYW message board), stating, in part, “Over the week, CLYW stock has been running wild … This CLYW stock rush happened just like that, on no company’s news and on old, well known SEC filings, done for the investment community.”
* Shares in Kore Nutrition Inc. began to spike on Aug. 31, 2010, following the release of a company-paid research report setting a target price of $10.50. Moreover, on Sept. 1 and 8, 2010, the company issued press releases announcing new distribution agreements to market its energy drinks. The research report and distribution agreement claims were reiterated on numerous stock-promotion websites, touting Kore Nutrition as a “winner.” Kore Nutrition’s quarterly report for the period ending Sept. 30, 2010, filed with the SEC on Nov. 15, 2010, made no mention of the announced distribution agreements.
* Montvale Technologies Inc. announced the dissolution of the company on Feb. 12, 2010, and last filed financial statements with the SEC for the third quarter of 2009. The company’s shares have nonetheless continued to trade, and to be promoted. On Dec. 22, 2010, a website recommended a “closer look” at Montvale Technologies, claiming it “has the potential to do very well in the short term.” That day, the share price rose 75 percent from 12 cents to 20 cents, and trading volume soared 500 percent over the prior day.
The Microcap Fraud Working Group is a joint initiative of the SEC’s Division of Enforcement and Office of Compliance Inspections and Examinations. The Working Group is pursuing a strategic approach to combating microcap fraud by focusing on recidivists and insiders, and on the attorneys, auditors, broker-dealers, transfer agents and other gatekeepers that facilitate a large volume of the fraud in this sector. The Working Group is comprised of staff from the SEC’s headquarters in Washington D.C., each of its 11 regional offices, and from the Office of Market Intelligence, Division of Corporation Finance, Division of Risk, Strategy, and Financial Innovation, Office of General Counsel, Division of Trading and Markets, and the Division of Investment Management.
---------------
Note there is some kind of date error in the news report on the first one, listing Sept 2011 as the day......The other look like SEC was 6-12 months late to the party, LOL! They were probably too busy watching porn.
"I haven't seen any small Chinese firms hire serious audit firms. Can you cite an example please."
CGYV hired the top dog 2 years ago (Deloitte SP?), and they went back to restate the prior two years financials, which in the end, changed very little, but they were a year late with the 2009 10-K, because it took a year to redo the prior 2 years financials. During that time the stock took a beating (and I bought the crash during the crash in 2009-2010 , and during the last MM/short raid), and I made a 400% profit a year and a half later on the rally when the financials came rolling in. My only real clue that it was not a fraud was the $5 million dollar signature loan (no collateral) personally guaranteed by the CEO that was signed and used to build their new plant.
Let me take a counter position here. Would it not be more telling, if they were pumping the stock with PRs, and or selling shares at these cheap prices to raise cash for dubious purposes, with the current financials they have been reporting? Small companies like this one, are not wall street pros, on the contrary most have a tough time just making a dollar. But one thing I have noticed, is the PRs, pumps, and big long rallies in a stock are usually followed by fund raising and dilution!!!!
ABAT is a good example of one in the low end EV market, e-bikes, e-scooters, and China hybrid buses using the ABAT batteries, and ABAT is reporting exceptional profits similar to CSGH, partly because of vertical integration into making E-bikes and E-scooters (from a customer they bought 2 years ago), as well as niche markets for li-ion bateries. I think it is great to see a contract announced between these two. ABAT is in the middle of major expansion of its battery capacity, that will double their volume in 6-9 months, which explains the large orders from ABAT to CSGH.
Makes one wonder why they made the payment in stock, when they paid in stock instead of cash, with so much cash on hand, and no debt. I read last week that was one of the early fraud warning signs on a stock I nearly invested in recently, JGBO, a pharmaceutical China stock, that had great financials to (but it was paying off debt with stock, when it was reporting that it was flush with cash), but trading was halted by NASDAQ on that one 1-2 weeks ago, and now everyone there is saying the fraud warnings were there 1-2 years ago......
ABAT was actually attacked twice now by shorts and short articles, but I bought the $2 lows anyway, as the short attack articles were wrong, and lied in a number of statements. That has not, however helped the stock price (YET). DEER is one that has sued the shorts, and recovered some, but not all!!!!
The trick is going to be to find the real non-fraud companies in the sector, with good management. But I have narrowed my China stock search to alt-energy and battery tech. I am looking for low downside risk, beat up stocks, with great up side potential over 1-3 years.
I did catch something about "consulting", so now I know what to look for, thanks.
My biggest fear, is sudden, unexpected trade halts like NASDAQ pulled with CBEH and JGBO recently, and we have no idea if or when those stocks will trade again. Maybe a good thing this one is not NASDAQ listed!
Do they have plant expansion plans that they need the cash for? I do recall their saying they were planning to start actually making li-ion batteries next, that would take a cash hoard to expand into or to buy a cheap competitor? If the consultants sold their shares during the low volume, that would explain part of the low prices too.
I am heavy into the international battery sector stocks, have been for some time now, so I was pleasantly surprised to re-find this one that had fallen off my radar, as I see it and China battery stocks poised to kick ass, while they control the price and availability of some of the rare earth metals used in these batteries, they have a clear labor and natural resource input advantage over Japan and the US right now.
Do you have any idea why the general and administrative costs jumped up from $500,000 to 2.5 million this year? Is it increased depreciation on new plant equipment, officers lining their pockets, or what? That is the only number I see in the financials that I can not justify, as the % increase dwarfs the increase in revenue?
I am already invested in CBAK, ABAT, AXPW, BCON and follow them very closely. I also follow JCI, XIDE, and a few others.
Does any one think we will retest the all time lows here this summer, for CSGH?
From what I have read lately, respected auditors are no help anymore. They have scr*wed the Pooch too many times as well.
And there was news in a new article in Seeking Alpha this weekend about GS IPO china stock from a few years ago, that is now under scrutiny for fraud as well.
That said, I had this one on my radar a while back, and forgot what it was, then today's news in ABAT / CSGH (which I bought at recent fire sales, as it had been on my buy the bottom list for 2 years!), got my attention. Other than the risk of small cap China stocks, this one looks extremely undervalued value now.
Any know any real reason why this may be a fraud?
I am placing my share orders here today.
News of new directors:
http://ih.advfn.com/p.php?pid=nmona&article=47939697
It is always darkest just before dawn!!!
Check out today's news. Two BOD directors replaced. Their pay rate of $25,000/month seems very high to me if they are just independent directors.
Rally time news!
LOS ANGELES--(BUSINESS WIRE)-- CytRx Corporation , a biopharmaceutical company specializing in oncology, today announced that preliminary results from its ENABLE Phase 2 proof-of-concept trial demonstrated that bafetinib, the Company’s Bcr-Abl, Lyn and Fyn kinase inhibitor, was clinically active in a group of patients with relapsed or refractory B-cell chronic lymphocytic leukemia (B-CLL) who have failed several other treatments for their cancer. Based on this indication of clinical activity and the low incidence of adverse events, additional patients enrolled in the ENABLE Phase 2 clinical trial will receive bafetinib as a single agent at a higher dose.
“We are highly optimistic about bafetinib’s prospects based on the preliminary results, which provide an initial indication that this drug candidate’s unique kinase inhibition could be efficacious in treating B-CLL and other cancers where approved therapies have failed,” said CytRx President and CEO Steven A. Kriegsman. “Due to the low incidence of adverse events, we are now able to increase the dose of bafetinib administered to newly enrolled patients, thus increasing the potential for greater efficacy.”
Of the 16 patients enrolled in the ENABLE Phase 2 clinical trial, 11 patients were evaluable for tumor response (patients who have received both baseline and follow-up tumor assessments). At the time of evaluation, the median duration of treatment for all patients was two months, and five of these 11 patients had received three to five months of bafetinib therapy; five patients either did not receive baseline or follow-up assessments. The median number of prior therapies for the full group is three, with a range between one and five prior therapies, and nine of 12 patients demonstrated unfavorable cytogenetics (del 17p; 13). This subgroup of patients typically has fast disease progression and shorter median overall survival.
All 11 evaluable patients demonstrated =50% elevation in their lymphocyte counts during the first two months of treatment, similar to other kinase inhibitors being tested in B-CLL patients. Six demonstrated >50% shrinkage in their lymph nodes and/or spleen, two patients had stable disease and three patients had progressive disease at their initial assessments. Lymph node softening also was noted in these patients. Only one grade 3 or 4 adverse event (grade 3 elevated liver enzymes) was noted, which resolved when bafetinib administration was ceased. Grade 1 and 2 adverse events included elevated liver enzymes with normal bilirubin, fatigue and gastrointestinal symptoms.
“These favorable initial Phase 2 clinical trial results of bafetinib’s activity and safety mark an important step in our goal to become a leading oncology therapeutics company. Further, we were able to obtain these results quickly after initiating enrollment in this clinical trial, validating our strategy to rapidly and cost-effectively conduct proof-of-concept trials in patients with advanced-stage cancers prior to moving into larger clinical trials,” Mr. Kriegsman added.
The ENABLE Phase 2 clinical trial, which is expected to enroll a total of 30 patients, is being performed at M.D. Anderson Cancer Center, City of Hope Medical Center and Cancer Care Centers of Texas. Patients self-administer bafetinib twice daily every day and continue treatment as long as their cancer is controlled and no intolerable side effects occur. The trial’s objectives are to assess preliminary efficacy of administration of bafetinib in B-CLL patients and evaluate its safety in this patient population.
“These results are very encouraging,” said Daniel Levitt, M.D., PhD, Chief Medical Officer at CytRx . “Lyn kinase, a primary target of bafetinib, is important to the activation and growth of B cells. It is upstream from both PI3kinase delta and Bruton’s tyrosine kinase in B-CLL and may regulate the activity of these other kinases in B cell malignancies.”
B-CLL is the most common form of leukemia in adults in Western countries. More than 17,000 new cases of B-CLL are reported in the U.S. each year; however up to an estimated 40% of cases may not be reported due to under-diagnosis and lack of placement in cancer registries. Virtually all patients are older than 55 years at presentation, with an average age of 70 years. Patients in the high-risk B-CLL have a median overall survival of one to five years.
About Bafetinib
CytRx holds rights to bafetinib (formerly known as INNO-406) in all territories except Japan. Bafetinib is a potent, orally available, rationally designed, Bcr-Abl, Lyn and Fyn kinase inhibitor, which was being developed as a third-line treatment for patients with CML and certain forms of acute myeloid leukemia (AML) that are refractory or intolerant of other approved treatments. In November 2008, CytRx announced that bafetinib demonstrated clinical responses in patients with CML in an international, open-label Phase 1 dose-ranging clinical trial conducted in patients with CML and other leukemias that have a certain mutation called the Philadelphia Chromosome (Ph+) and are intolerant of or resistant to Gleevec® and, in some cases, second-line tyrosine kinase inhibitors such as dasatinib and nilotinib. In April 2010, the Company announced that bafetinib had received official notification from the Committee for Orphan Medicinal Products (COMP) of the European Medicines Agency (EMEA) that a positive opinion was made regarding the application for orphan medicinal product status for the treatment of chronic myeloid leukemia (CML). Bafetinib also has been granted Orphan Drug Status for the treatment of Ph+ CML by the U.S. Food and Drug Administration (FDA).
CYTR is a biopharmaceutical research and development oncology company engaged in the development of high-value human therapeutics. The CytRx oncology pipeline includes three programs in clinical development for cancer indications: bafetinib, tamibarotene and INNO-206. The Company is evaluating bafetinib in the ENABLE Phase 2 clinical trial in high-risk B-cell chronic lymphocytic leukemia (B-CLL) and the PROACT Phase 2 clinical trial in advanced prostate cancer, and is conducting a pharmacokinetic clinical trial in brain cancer. With its tumor-targeting oncology candidate INNO-206, CytRx plans to initiate a Phase 2 clinical trial as a treatment for soft tissue sarcomas, following a dose escalation safety trial. CytRx's pipeline also includes tamibarotene, which it is testing in a double-blind placebo-controlled Phase 2 clinical trial in patients with non-small-cell lung cancer, and which is in a registration clinical trial as a treatment for acute promyelocytic leukemia (APL). For more information on the Company, visit http://www.cytrx.com.
DALIAN, China, June 13, 2011 /PRNewswire-Asia/ -- China Sun Group High-Tech Co. ("China Sun" or the "Company"), a vertically integrated supplier of raw materials for rechargeable Lithium–ion (Li-ion) batteries in China, today provided an update for investors regarding its production operations and the status of a new supply agreement.
New Agreement
The Company has signed a new agreement with Advanced Battery Technologies, Inc. for the supply of Lithium Ion Phosphate (LIP). Pursuant to the agreement, China Sun will deliver a total of 170 tons of LIP to ABAT between April 2011 and December 2011. China Sun has delivered 8.5 tons to ABAT and will ship a further 23 ton average per month between June and December 2011.
Delivery Volumes – LIP
The Company has delivered to customers the following volumes of LIP: (See the actual article for the formatted data table, the data does not format well in Ihub, copy and paste)
.......................................
Currently, the top three customers for LIP are Sai Er New Energy, Beijing Shuangsheng Sci-Tech Co., Ltd and Shangdong Shengong Battery New Technology Co., Ltd.
Delivery Volumes – Cobaltosic Oxide
The Company has delivered to customers the following volumes of Cobaltosic Oxide:
Currently, the top three customers for Cobaltosic Oxide are Dahua International Trade Co., Ltd., Tianjin B&M Science and Technology Joint-Stock, Ltd. and Beijing Easpring Material Technology Co., Ltd.
Production Lines
China Sun is to complete three new LIP production lines at the end of June 2011. The Company will then have six LIP production lines in total with an annual production capacity of 700 tons. The design phase for the three additional lines began in November 2010, the necessary equipments were completely manufactured in April 2011, and assembly and testing began in May with completion to production standard in June.
"We are very glad to be able to make this progress report to our shareholders. These are tangible signs of growing cooperation with China's Lithium-Ion battery manufacturers and our increasing ability to supply them with the volumes that they need," said Mr. Guosheng Fu, CEO of China Sun. "While we are pleased with our increased output we will now move forward to improve still further. We are currently doing the research and working on new solutions, to improve the chemical manufacturing process with the goals of increasing its efficiency, reducing production time and saving cost."
"We are confident that the LIP market is continuing to grow and in order to ensure our place in that market, we want to build on the reputation we have for high quality product. In order to continue to receive excellent feedback from our clients, China Sun will keep on working hard to build strategic partnerships with them. Through those efforts we also expect to build value for China Sun's shareholders," continued Mr. Fu., founded in September 2002, develops, manufactures and distributes rechargeable Polymer Lithium-Ion (PLI) batteries. The Company's products include rechargeable PLI batteries for electric automobiles, motorcycles, mine-use lamps, notebook computers, walkie-talkies and other electronic devices. ABAT's batteries combine high-energy chemistry with state-of-the-art polymer technology to overcome many of the shortcomings associated with other types of rechargeable batteries.
About China Sun Group High-Tech Co. (CSGH)
China Sun Group High-Tech Co. produces anode materials used in lithium ion batteries. Through its wholly-owned operating subsidiary, Dalian Xinyang High-Tech Development Co. Ltd ("DLX"), the Company primarily produces cobaltosic oxide and lithium ion phosphate. According to the China Battery Industry Association, DLX has the second largest cobalt series production capacity in the People's Republic of China. Through its research and development division, DLX owns a proprietary series of nanometer technologies that supply state-of-the-art components for advanced lithium ion batteries. Leveraging its state-of-the-art technology, high-quality product line and scalable production capacity, the Company diversified into the manufacture of LIP and plans to forward integrate to manufacture power Li-ion batteries. For more information, visit http://www.china-sun.cn.
I am waiting for the body count to pile up higher right now, and it to become obvious which ones are not scams, and for signs of a real bottom. I am already bleeding from holding too much equity the last 8 weeks, including China small caps. I hope this recent crash bottoms this week. Two China small caps I nearly bought the last 6 weeks have stopped trading, which has me even more nervous now. I am fighting the urge to buy more ABAT and CBAK, Li-ion China stocks I already hold, that are now selling for half of book value. This China small stock sell off is taking NO PRISONERS!!
I will be watching this one from now on. I am already in 4 other battery stocks, and following 6 others. Early DD shows this one selling for less than book value with a positive, low PE (like many others in the china small cap sector). Question is, which ones are not scams, and when will they bottom and turn up?
ABAT is now selling for 44% of book value:
http://www.fixyou.co.uk/tracker_bookvalue.php
I was just looking here, and I am shocked at seeing BVPS (book value per share) on many of the china stocks at 10 to 20 times the stock price!!!!
http://www.fixyou.co.uk/tracker_bookvalue.php
Something is terribly wrong here (by here, I mean the entire sector).
Tianyin announced a share buyback June 3rd:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63846234
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64139134
A good read, and a positive, bullish article for once on small cap China stocks!
Your definition of commercial scale is not even close to my definition.
Cart before the horse. A plant (no matter who builds it)must be designed, permitted, funded, ordered, constructed and completed before a commercial operation would need commercial quantities of the catalyst. Perhaps they are expecting demand for samples of the catalyst for pilot plant trials?
EFT will want more money to do this: "
Working with the GTL experts at our engineering firm, Emerging Fuels Technology, we also plan to demonstrate an end-to-end process that will produce samples of diesel fuel that can be used by existing diesel vehicles.
I'm not sure if anyone remembers exact dates that Byron mentioned about a year ago as to when cars in this country could be running on gas from their technology, but I believe he said end of 2012 or early 2013.
OK, you said I am hopeless, in response to my question "how do you know the Shell engineer is still part of the team"?
I had good reason to ask that question. The Shell Chem. Eng. has not been mentioned in the PR's since the November fiasco, the fisaco where they announced the prior catalyst they had created and were so proud of was not patentable after all. Then wham bam a month later they license a similar catalyst technology from a Canadian University, then for the last 4 months we hear nothing more about the Canadian University, but we are told we have hired a new team to test the catalyst. And the prior Chemical Engineer (Aslam?, catalyst/process inventor) was run off in November last year, still for reasons unknown?
Here is one more example of where we were and what we were told 2 years ago, that has it seems now gone by the wayside:
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=25728656
As for the latest gadget, I am a chemical engineer, and I still can not figure out exactly what catalyst they are using, and what IP protection, if any, it might someday have?
Show me an SEC filling that shows a public document with a current patent application number, or a license for a patented catalyst that has a trail back to CABN, and a link that confirms one of those is what we are even testing in the lab?
Read this 2 year old PR and tell me why I should believe CABN has made any real progress the last 2 years? Use that PR for reference in your explanation.
http://www.carbonsciences.com/01/view_news.php?id=42
This was a PR in June 17, 2009:
Carbon Sciences Achieves Breakthrough in Biocatalyst Design Novel Enzyme Encapsulation Technology Significantly Increases Functional Life of Key Enzymes and Speeds Commercialization of CO2 to Fuel Process
SANTA BARBARA, CA, Jun 17, 2009 (MARKETWIRE via COMTEX) -- Carbon Sciences Inc. (OTCBB: CABN), the developer of a breakthrough technology to recycle carbon dioxide (CO2) emissions into gasoline and other fuels, announced a significant technical development in increasing the functional life of key enzymes used in the company's biocatalytic CO2 to fuel process. This development not only accelerates the pace of commercialization, but also will result in lower cost fuel.
In most biocatalytic processes, the key component is the active organic enzymes that catalyze specific reactions. Enzymes are very expensive, and the commercial viability of any biocatalytic process is dependent on the number of cycles the enzymes can perform before they must be replaced. This is known in the industry as the Total Turnover Number (TTN) of a biocatalytic process. A higher process TTN means that more products can be produced with the same fixed cost of enzymes -- thereby lowering the cost per unit of product. For Carbon Sciences, a higher TTN in its biocatalytic CO2 to fuel process directly translates to a lower cost per gallon of gasoline and other fuels.
Carbon Sciences' chief technology officer, Dr. Naveed Aslam, commented on this breakthrough, "We continue to increase the TTN of our CO2 to fuel process through a proprietary technology that encapsulates the enzymes in a protective shell. This protective shell significantly increases the activity and functional life of the enzymes. Our enzyme encapsulation technology gives us great confidence in the cost effectiveness of our CO2 to fuel process and moves us closer to commercial viability. The implication of a significantly higher TTN is profound."
Dr. Aslam was recently featured in a cover page story entitled, "Catalyst - Seeking the Next Big Thing," in the Chemical Week magazine, the world's leading source of news and analysis for key professionals concerned with the chemical, petrochemical, specialty chemicals and related industries.
I have gotten neck deep in a number of similar stocks the last 3 years that are in various stages of development, and I have gotten burned as far back as the 1980's when I first got into stocks, so I am NOT new at this. When I see stocks like BCON, AXPW, COIN, FCEL, RTK, which all have key patents issued and new product sales already (CABN has no sellable product or sales yet), and they all have already lost 50 to 100 million dollars of investor cash over the last 10 plus years to get where they are now, and yet non of them have made a profit yet, then yes, I see a lot more potential down side than up side in CABN's closing price on Friday, and a lot more future cash burn in CABN based on their history so far.
That is not correct. Last news was December 2010. This is June 2011. Not sure how you get a year out of that. I get 6 months.
We may have a short term low here. Form 4 filed with CEO just buying 1000 shares in retail market!
How do you know the Shell engineer is still part of the team?
I will go with fireworks on July 4th!
Nite is dangling that .07 ask candy again, 70,000 shares at .07 on the offer!!! Git them while you can!!!
That must be it!!!!
LOL
Optimus, I can not fault anything you said. I see eye on eye on that with you.
I think what worries me most right now, is the fact they are claiming to be moving to a higher exchange, and saying that is partly why they took 40 of our shares away in exchange for 1 new share. First off, 95% of R/S split shareholders that hold after a R/S, end up with a large net loss shortly after the R/S. The last 4 R/S stocks I held are down 50 plus % (I have learned that lesson the hard way!!!). But here is my biggest concern.
Either they are lying about the move to a larger exchange like NASDAQ (which means we can no longer trust what they tell us), or they are omitting the fact that moving to those exchanges requires a large amount of stock holder equity, and they have negative to zero equity right now, so the only way they can raise significant equity (like $5 million dollars minimum I believe) is to sell a lot of shares dirt cheap, or take on convertible debt (which I think is unlikely, but can not rule out), which would eventually turn into dilution shares anyway.
Two years ago the PR's led me to believe they had the technology ready to go, and just needed an Exxon to sign on for building a pilot plant. It turned out they miss led us that time as well.
Why have they not explained the move from gasoline to diesel fuel? Why have they not named the exchange they want to move to and explained how they expect to get there? Why have they not clarified which catalyst they are using, and its exact, current patent or license status? Why has Byron still not returned any of my phone calls from 6 months ago, when I did own shares?
Take a look at the commercialization info here:
http://en.wikipedia.org/wiki/Fischer-Tropsch_process
Solid counter rally here while most stocks are getting clobbered. Any idea why? Even more interesting is two of the flim flam outfits downgraded BCON to a sell just before the rally, LOL.
I see an SEC notice of a stock holders meeting, and proxy, but nothing in it I see would cause a rally. This is the second large bounce in a week now I think? Perhaps $1 support is trying to hold here?
My problem is that I do not hear or see anything that Byron is saying, that he has not been saying for 2 years. There is a lack of clarity and detail in his PRs, that is typical of his PR fluff style. It is what he does not say that bothers me most.
No one has asked yet why the latest PR says they are going to make diesel fuel instead of gasoline. They have claiming the target was gasoline for 18 months now. Now all of of sudden it is diesel?
Why diesel? They are not telling us something, again!
I am digesting this story right now:
http://www.fool.com/investing/general/2011/05/24/waving-the-white-flag-on-chinese-small-caps.aspx
CaptainCanada,
I am reading this right now.
http://www.fool.com/investing/general/2011/05/24/waving-the-white-flag-on-chinese-small-caps.aspx
I am still in two China stocks, ABAT being one of them, and CGYV (I made good money on the panic bottom of CGYV last year) (and TTEG is in the middle of a 10 year old US Tech company innovation start up, now merging with a China Auto parts company based on year old news....., but it has been hosed by MM raids) and I have been following about 10 others (one more was haulted yesterday, JGBO, a biotech-Pharma company, with no warning that I saw, other than the stock price dropping to the 2.0 PE range) another about 10 trading days ago, CBEH, Biodiesel production and gas station operator) but as I read about the dominos falling, and then add the market conditions world wide right now, and the US Congress locked in a dangerous battle over the debt limit, that could lead to a one day market crash like we saw in 1987 and 2008, I must admit I am finally worried, and wishing in Hind sight that I had moved all to cash 6 weeks ago. I have taken a real hosing the last 4-6 weeks, not in ABAT, as I don't have a lot of cash in it, yet, but I did get in at $2.xx, but even US stocks are turning out to be wholesale scams (COIN is one I am finally giving up on, as the CEO is incompetent at best, and does not care about retail investors), but lets read this together, and have a heart to heart chat today about ABAT, and the entire picture as I am already in intensive care at the local hospital from recent Bear attacks!!! (LOL)
Not sure how competitive $80/barrel really is. Saudi cost of production was about $10/barrel not too many years ago. Makes me wonder what the average cost of oil production really is these days. $35/barrel perhaps? Natural gas is 1/4th of its 2008 high, what happens if it goes back to there or just doubles?
Latest news is they are "going to order a larger lot of catalyst manufactured, large enough to create a sample (?) of diesel fuel for further tests.
MORE TESTs!!!!
No, they have been quite lately.
110 million now, little to no real equity (the equity they show is an accounting mirage from all the shares they used to buy a BK Terra), which is about to turn into 500 million with all the coming dilution from the second round of debt conversion, then a R/S to clean up the mess so they can do it again.
I had not seen this link before on the Mantra website.
http://www.fawoo.com/light_en/index.asp
The outfit they have an LED lamp deal with.
It is a messy moving target (variable debt conversion based on share price pending, Terra sales targets if reached trip more dilution), and it is huge and getting larger. Current shareholders are about get another 700% dilution hit from a second wave of debt conversion, which is one of the reasons the stock has gotten so badly hammered.