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The problem is perception. If people have the belief it is a scam then it does not matter if it is or is not, no one will buy, everyone will short, until the stock is worth nothing and is forced to the grays. It's like CSGH. ABAT mentioned a deal with them and now they are at 22 cents. No one has ever accused China Sun of anything, but just being in the same sentence with ABAT has drove them to a five year low.
I apologize, I thought I had read it, but when I looked it up it was an opinion piece. They believe there will be massive by back or a privatization of the company in the coming months because of the letter by Fu, the entire situation being much like Harbin Electric.
"But I remain committed to our shareholders. I believe that their faith in our company should be rewarded. So I write this letter to promise our shareholders that in the coming months I will take the actions that I believe are necessary to reward the loyalty of our shareholders.”
Sure $3 a share for the few stragglers that hold on, everyone else is gettin' 40 cents, like the 3 million shares today. A couple of weeks of this and there will only be a few hold outs left. He can afford to buy them out at a premium.
He has already stated that he is taking the company private.
The company is not a total scam, they have a very profitable scooter business.
The scam part is that the way they are evasive about showing NASDAQ their books (the 100 million raised by printing stock) this is a way to cause uncertainty among investors and ultimately from the NASDAQ which he knew would delist them.
Then, by allowing the stock to open on the grays was genius. It allows millions of shares to be sold by panicking investors. Fu minions can gobble them up for pennies on the dollar and put Fu in a perfect position as the leader of a majority of the shares. The buy out then easily gets the go ahead and he pockets $100 million, but he is not going to pay more than a buck a share, because he knows how to play the game.
I do think he will continue to accumulate until it hits about 75 cents. Then I am sure we will hear more timely "bad" news of some sort so he can get the rest he needs for the coup.
I've been telling people to sell this stock for a while now, others know this.
I do think this is the first time I would say to buy it, but I would not pay over 75 cents.
I do think Fu will end up paying about a dollar a share for the hold outs, but Fu's not dumb and he will gobble up most of it in the next weeks to come and probably officially offer a buy out in January. Let the west cash in their worthless stockies for pennies to buy Holiday gifties for the urchins and then buy the rest next year at about a buck a share.
$10 to $24 is about the same as 40 cents to a buck.
The ones that bought at $4 are the ones that really got screwed, not those that buy now and get a doubler, but I don't see anything over a dollar here.
This is all part of the master plan.
Take 20 million dollar company public
Print Stock and lotsies of it - about 100 million (on books company now worth $120m)
Hide Cash so auditors, short sellers and NASDAQ get suspicious
When NASDAQ wants proof act incompetent
Release grand press releases, but do nothing
Stock price plummets from $4 to $1
Stock goes to grey sheets drops another 60%
Silence from company
Ultimately Buy Company back for $20 million
Keep $100 million
its the old harbin HRBN scam with a different wrapper except
now its Mr. Fu instead of Mr. Xu
He let it go to the greys so he and his other cronies could slowly buy it back for pennies on the dollar, go private and keep the loot from their massive stock printings. Stick a fork in ABAT, cuz she's done and look for it to go private when all the duped sell back their $4 shares for less than a buck and all that's left is the die hards who will be forced to sell back at a buck a share cuz that will be the final offer and "the shareholder" will agree because Fu will be the only one. And he will painful talk how he regrets the US losses because of evil short sellers, but taking the company private was the only thing he could do. It's the Harbin scam all over again.
its 1:35pm and Im not seeing any trading. = /
Sooooo.... when is the buy back >u<
ABAT's shell is collapsing. I hope your reeeeeaaaaallllll loooonnnngggggg on abat cuz it's taking on water now, and fast, that ship is sinking and headed for the bottom. The shorts will start buying when it opens at a nickel. The NASDAQ is finally starting to do the right thing and checking into numbers that make absolutely no sense. If everything abat is claiming was true, their stock price would be $3.50 at least.
Well, it was just a hunch, but 99% of Chinese stocks in my opinion are taboo right now, until we get some integrity from these companies like NEWN. I bought and sold this when it was CHID or something like that. You rarely find a Spreadtrum (SPRD) three years ago it opened at 80 cents. >u<
I would tell people look at the price.... it was $4 now it's 95¢ ... look at the price to earnings... they "say" they are making so much earnings, that their PE is 1.7, hmmmm, I wonder why it's so low? There total assets are $227 million yet they have a market cap of $72 million. Why wouldn't someone buy them and make $150 million in quick profit? hmmm... why are there over $6 million shares being shorted? Hmmmm... lemme guess... because the whole thing is a Ponzi scheme, the company is a shell. When they start printing stock, so they can have $500 million in cash and assets, telling everyone, they need to stay liquid, I will still be selling this hydrogen blimp short, short, SHORT!
Ok, that still leaves them with $40 million, why borrow $6 million and pay interest when you have $40. They wouldn't be liquid with $34 million? If there books were legit, why would the stock have a P/E of less than 2 and have a 10% short interest?
I'll tell you why... Zhiguo Fu is lining his pockets... all ABAT has to do now is print more stock and that should finish her.
And just because APRW stock jumped one day on news it wasn't a total transparent fraud, lets see what it does tomorrow and if it ever gets back on the NASDAQ. The NASDAQ at least is kicking these scams off their legitimate exchange and banishing them to the pinkies, hopefully never to be heard from again like CNOA and JADA trading at 2¢ a share.
Yah, I think when they have $100 million in cash, they should keep the fact that they need to borrow $6 million under wraps. Simply put - It don't add up >u< This baby is headed for zero, SHORTS! INCREASE YOUR POSITION! Shorting this stock is like printing money. XD
I hate to say it but I think NEWN is headed for about 6 bits, right behind ABAT and CSGH. Everybody is out of those now, and NEWN is the next one. Most have bailed, just a few die hard fans hoping for a miracle, but I see this stock hitting 80¢ and getting kicked to over the counter, not doubling.
I think Besties is gonna get kicked off the NASDAQ for such a low stock price, I got a "shiner" from Shiner. I've done nothing but lose money on this one.
That article was over 6 months ago. That stock has traded about 100 shares this week. China Stocks will never recover or it will be years and years. CSGH used to be a $2 dollar stock and now its worthless. ABAT, BEST, NEWN they are all about to fall off the NASDAQ and end up right were CSGH is at .25¢ a share.
Almost all American investors are sooooo out of Chinese reverse merger stocks and it will be a long time before they recover, and my thoughts are never or close to it.
LOL! No kidding, you are so right, this thing could go either way, however, ABAT has to want the price to stay over $1 or they will eventually get booted off the Nasdaq. So, IMHO, there will be pressure for ABAT to buy back when the price dips under $1, if for no other reason, to keep the stock on the Nasdaq exchange.
ABAT IS NOT A SCAM, STAY THE COURSE.
It was my understanding and I am no inside expert, but they sold almost all of their batteries to Wuxi Angel and when Wuxi was having problems paying, they simply bought Wuxi, because they believed it the product and their batteries. Many thought this a huge mistake, because I believe they felt, what does a batterie producer actually know about selling the products that their batteries go it. I think this risky purchase was the beginning of the short selling.
Only one problem, ABAT made it work and started raking in money and this alone would have squeezed shorts out, but ABAT wanted to also expand into the large battery electric car market and started printing stock to raise money for this very thing. They have raised about 100 million and I believe about 80 million is ear marked for two acquisitions for factories for this very purpose.
The short sellers keep waiting for ABAT to fail or do something stupid and it has not really happened, so now I believe this hit piece, timed very suspiciously to help shorts cover a developing short squeeze. Those at Seeking Alpha should be liable for slander. They have done this exact same thing to a number of chinese companies. Just google "seeking alpha hit piece" and you can take your pick as to who they are bashing today. They recently did a bash piece on yongye (YONG), Yongye responded and now some at Motley Fool ask, "Is this the perfect stock?"
http://finance.yahoo.com/news/Yongye-International-Responds-prnews-2944223270.html?x=0&.v=1
http://www.fool.com/investing/international/2011/03/29/is-yongye-international-the-perfect-stock.aspx
The lawyers always swoop in regardless of facts. This was an email someone received and posted on the china growth stock board:
Post-it
Share
Wednesday, March 30, 2011 11:03:27 AM
Re: RabidTiger post# 76922 Post # of 77001
ABAT - got this in my inbox just now
March 30, 2011
Action to take: Sell Advanced Battery Technologies Inc. (NasdaqCM:ABAT) at market.
Sell ABAT at Market Immediately
by Keith Fitz-Gerald
Email - 34
This morning, ABAT joined the list of Chinese small caps under attack from self-motivated short sellers out to enrich themselves while devastating other shareholders. I could go on about why this is simply wrong, why I've heard the tactic is under investigation by the SEC (because it's a pump and dump in reverse), or even why this is part of the game... but none of that matters.
The damage is done. And I don't want to risk further exposure or wait around to weather the storm while forensic accountants fight it out.
Action to take: Sell Advanced Battery Technologies Inc. (NasdaqCM:ABAT) at market immediately.
We'll have a replacement and further details in next week's update.
Best regards for great trading,
I have been following this stock for too long and have done too much research on it to not know this guy is doing a convoluted hit piece with a few charts to confuse the issue and help him out of his short squeeze. Let him rant. Earnings drive stock prices, bottom line, not hit pieces. For its size, ABAT is making more money than almost every other lithium battery stock out there. In my opinion, it is the best lithium battery electric bike / car / vehicle stock to invest in.
The Street.com and Ford Equity Research rate ABAT STOCK at a BUY RATING, even Research Team (a coalition of five independent research groups) rate it at a HOLD. I find it hard to believe, no, impossible to believe that this obscure short seller has access to any information that they have not formally examined.
This is the first time seeking alpha has done me a favor. I just bought a bunch. The only thing I do not like about this stock is their printing shares to finance the two new acquisitions they intend, this kept the stock in the $3.50 range, when it really should be higher. Now, they have about $227 million in assets and a market cap of $150 million. This stock is worth $3.25 on book value alone, and when they purchase the two acquisitions and get them up and running, who knows?
What is so funny about the hit piece, is it makes a big deal about them selling bikes and scooters, like it's a secret and they were saying they were selling cars. I have been following this stock for over two years and they have always proudly stated that they are in bikes and scooters, but are looking to expand into larger vehicles and this is part of their acquisition strategy.
He tries to paint ABAT as a chinese reverse merger over the counter stock. It's headquarters are in New York and it is on the NASDAQ. Has the person that wrote this article been shorting the stock for a while and now getting margin calls? Are they worried they are about to lose their a** after seeing the earnings report?
I think I see something though in their 2011 projected earnings. They have lowered them from 27¢ to 17¢, I think that is what has people bailing on their stock. I like a stock better when it is projecting 40% growth and not break even growth. Although, they could beat those numbers for a pleasant surprise or people could focus on the 2012 projection, which is 29¢ a share, so even with a P.E. of 7 (average for rubber and plastic is about 10), it is conservatively a $2 dollar stock in 2012.
I think I have, but it won't let me post :(
I think I need a suped up account or something and I don't really have the money for an upgrade ;-;
(That's a little face crying for those that do not speak iconese) >u<
(and that is a little face with scrunched eyes and a smile)
I better post something about BEST though... so, I think they should release a PR statement, anything at all that puts them in the news. I think this company is a very good investment, but it is so far off everyones radar that the volume is so low that the people that are in it are bored with it and selling it just to get into something that is moving and more exciting. =O (Oh nooooooo)
China small caps have been hit hard lately. Well, I think I am going to take your advice, scrape up some "powder", buy more, shut my eyes and go long >u<
The financials seem ok and they are projected to keep doing better, why has there been such a dip in their stock price over the past few weeks? Is there something wrong with their books? Did someone do a hit piece on them that I missed? The price to book and p/e ratio make it look like a buy to me... what am I missing?
Does anyone know why they have not released their earnings report?
I agree. I'm long in CNOA and while I have more than I should in my portfolio, at these prices I am thinking of adding more.
Go Michael!!! Good job. I think your positive info will help me add to my position today :3
Well, no one is shorting it. It has 7,300 shares shorted, so at least no one is putting money on it going down from here. I'm going to add a little today. This stock is my lottery ticket. =)
I agree. I am long on lotus as well. I think they are legit. They are building a new corporate headquarters that is like an 8 story building, they have over 200 employees and growing with new deals all the time. They are signing new distribution deals with Chinese Hospitals. I think this company will grow by leaps and bounds in the next few years. LTUS's problem is that they do not understand the value of well worded and timely PR. I hope their silence doesn't bite them by letting their stock price dip below $2. They may however have an institutional investor waiting to step in and buy a large chunk and they are purposely letting the stock price fall to make that deal happen. The volume is next to nil. It's like all the buyers and sellers are waiting for LTUS to make their next move.
I think reverse splits spook investors. Also, they have talked a lot about moving to a major exchange, but will they? I think that is the big hammer. If they do move to a major exchange I think this stock will take off, but if they do not, I think their debt will keep them meandering in the fields.
No, there is some concern over some land they bought and now may sell.
Some think that the land deal is not being disclosed properly and that the property may not be worth as much as stated. There is a lot of money wrapped up in it and if they lose that money it could put the company in financial trouble. Others think, they simply decided not to use the property and are now going to sell it and recoup the money and maybe even a profit.
Here are some posts from Investorshub:China Growth Stocks: LTUS - I've been looking into industrial land values in China and I'm sure having problems seeing how the appraiser came up with such a low land value for the inner mongolia property. According to Maj, the appraiser said the value of the property when LTUS made the purchase was 60rmb/mtr and at current values is about 70/ mtr.
In China, these land prices are set by the chinese government, specifically the Ministry of Land and Resources. Now, here is a link to an article that says back in 2007, China's ministry of land and rescources mandated that the absolute minimum price of industrial land was set at 60rmb/ mtr and that was only for a few isolated counties in the Xinjian province in northwest china up to 840rmb/mtr for property in the suburbs of Shanghai. The average price paid for land rights in all of China was 721rmb/ mtr. LTUS paid 218 million rmb for the land or about 326rmb/mtr. That is less than half of the average price paid for land rights and certainly doesn't seem out of line for an industrial park located 2 1/2 hours drive time from Beijing.
There is no way I can see that this property should or even could have been valued at the absolute minimum price for industrial land in all of China. The price actually paid for the property seems well within reason to me. This appears to be a bad appraisal report that was given to Maj. With the chinese economy booming again, LTUS could well be able to sell the property for a tidy profit too. LTUS land is 2.5 hours from Beijing. Here's the link: http://www.chinadaily.com.cn/china/2009-05/14/content_7778667.htm
Inner Mongolia is huge, but there is a piece of it very close to Beijing, which is where LTUS bought the land. http://www.thefreelibrary.com/Lotus+Pharmaceuticals,+Inc.+Purchases+Land+Use+Rights+to+Grow+its...-a0193131593
About the Chahaer Industrial Park
Creation of the Chahaer Industrial Park was approved by the State Council in 2003 as an important means of assisting the under-developed western regions. It consists of 10.41 square kilometers of land located in the county of Chayouqian of Wulanchabu City in Inner Mongolia, around two hours and thirty minutes driving time from Beijing. A number of the Chinese government's preferential tax and operating subsidy policies automatically cover companies located in the park. About one third of the park is currently occupied. Information about Chahaer Industrial Park is available at: http://www.cyqq.gov.cn/ .
LTUS The land in question is practically Beijing suburbs.
geography of china is very easy to find on google, if you know anything about chinese characters. i found the area on the first try, 250 km from Beijing on the way to Hohhot. DLouis' info is accurate.
I've been to almost every province in China. Xinjiang is mostly desert, several days worth of driving away from any major population area to the east. It would make no sense for land 2.5 hours outside of Beijing to go for the same price as the cheapest land in Xinjiang. The land is also very close to Hohhot, the capital of Inner Mongolia. The land is located in a corn belt, making it a prime location for processing corn starch, which has many industrial uses. LTUS planned to use it to make IV solution. The corn industry is tightly regulated, and very few new starch projects are being approved at present. I came across this info researching ABC. This may be part of the reason LTUS is scrapping the project.
Why did it take such a hit yesterday???
I hope they stay over a dollar and make a move to get on one of the major exchanges... I think that would cause their stock to soar.
They just got a CFO... so that Eberhard Schoneburg CEO, can work new deals. A recent article quotes Schoneburg as saying, "Mr. Namyslik's assignment allows myself to take better care of strategic partnerships and deals, new product developments and corporate acquisitions. We will be working closely together to further strengthen Artificial Life's leading role in the mobile content space."
And the new CFO Namyslik states,"I am very excited about this opportunity and I am honored to be selected for this post. I will work hard to get Artificial Life to the next level and will make sure we have the financial resources and means to keep growing at the current pace. My key goal, however is to enhance shareholder value and to achieve a better and more appropriate market cap for our equity as soon as possible," said Frank Namyslik, CFO, Artificial Life, Inc.
Right away they released a statement to the press sharing ALIF phenomenal 2010 growth "The total number of iPhone/iPad game downloads generated during the first 6 months of 2010 was approximately 7.4 million in total compared to approximately 8 million for the whole fiscal year of 2009." Which essentially means this year they have doubled their business. With Christmas coming and millions of IPads being opened and downloading in 2011 there will be another growth spurt early 2011.
Slowly acquire this stock on days the market is down, because soon this thing will grow like sea monkeys. This summer they just moved onto Germany's major stock exchange, my guess is that soon because of volume and price they will move onto the AMEX or NASDAQ, that is when the real fun will begin.... Yippee!!! ^u^
3M paid $1 a share, so I think anything below that is a bargain. If it breaks one dollar I would wait until the 2Q earnings before I would buy more than 10K. If your looking for less volume, even $1.10 isn't bad, because it is not that much money to have tied up and in a year or two when it is at $2.50 per share you will still have a 2 bagger. I bought more this morning and am going to keep buying small chunks until it hits $1.10, then I'm gonna sit back and wait till it hits $2.20 and pull the trigger GAME, SET, MATCH =D
They usually release about six weeks after the quarter ends, so they should tell us sometime around Aug 15th, but they have not stated a release date. Paige
@ THESTRONG
I think so, too. I have heard the CEO just increased his position and promised cash if the company so needed. They also just hired someone for mergers and acquisitions and that may be what the silence is about. Also, and this is what I am banking on... the IPad. All IPhone applications are just a tweak away for working on the IPad. It runs on essentially the same architecture. With many colleges announcing they are moving from textbooks to IPads, so students have the entire library at their finger tips, how many of these IPads will want applications. ALIF is in a perfect position to provide them. They have already announced that their sales in the first four months of 2010 have equaled the first six months of 2009. All that being said, if you are looking for sure quick money, then ALIF may not be your best bet, but if you are able to hold on to this stock for one, two, three, or even five years. WATCH OUT, cuz uuuuu gonna make shum moneh... =)