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There is a EPA certification (Oct 2013) for ATV and Off road vehicles (gas powered) for Kandi USA. Pumpers purported it to be a Cert for the EV's. Once this was found not to be the case, KNDI nose dived back down.
The Fake EPA cetrtification is the last attempt to push the stock. After it was revealed to be a fake, the stock sold off dramatically. This is where I bought the puts at 12.5 Jan and 10 Feb.
Watch for sells going into the weekend due to traders (Some) being duped by the few who pumped it.
I reported individuals were pumping the stock on the company. Just like the fake EPA certification that was sent today
Yes self taught. Went through a period of losing. Consider it college money for an education.
I believe the company is legit but the pumping is not. The valuation for this company is between 4-5 dollars maximum. I believe someone saw an opportunity to hit a low float company on a semi-true campaign. That how you sell it. Place truths in with the lies and its hard to notice except when you read the quarterly statements. The street put out a nice story on dead cat bounce and no real substance to the move the stock except for a few players.
This requirement is for any stock wanting to list with NASDAQ. KNDI is already listed. The NASDAQ Global system is for companies wanting to list shares on NASDAQ boards in other markets, I.E. Canada, and Germany. KNDI will be paying higher fees on every share traded.
This is not a good thing in a sense to the current share holder because, the company is looking to add to their float to place more shares on the market. This will show that KNDI is looking to sell shares not make money through their standard business model.
Yes anyone can get listed on the exchange for a hefty fee and share movement.
l) Net income from Continuing operation page 46 Nov Q Statement
The operating performance of the Company for the three months ended September 30, 2013 reflected a net loss of ($7,763,851), a decrease of $8,358,369 or 1,405.9% from a net income of $594,518 for the same period of last year. This decrease was primarily attributable to the change in the fair value of warrants discussed in (i) above.
Excluding the effects of stock award expense, which was $28,000 and $36,907 for the three months ended September 30, 2013 and 2012 respectively, and the change of the fair value of financial derivatives, which was ($6,864,624) and ($882,731) for the three months ended September 30, 2013 and 2012 respectively, for the three months ended September 30, 2013, the Company’s net loss was ($871,227), significantly changed from a net income of $1,514,156 for the same period of 2012, excluding the same effects. This change is primarily attributable to the increase of general and administrative expense and net interest expense in this reporting period.
I would have to say broke.
Yes and the editor has stated he is long KNDI. So again a fluff piece from a biased investor.
Wrong,
I am in Afghanistan. I work for the U.S Military. I trade options only. I could care less about short positions or long positions.
This story is the same ole story over and over again. A news pump by seeking alpha and Globewire that boosts the stock over 100% in as little as 5 trading sessions and having an RSI of 83%.
This tells me the company is broke, why? You tube videos and seeking alpha as the only source of info with a company at 491M USD market cap. Smells like a stinky pinky.
I could care less of the direction but the SEC has been told. And If you knew anything other than rhetoric and conjecture, you would stop with the personal attacks.
KNDI looking to be a put option dream.
The business model as stated in its press releases are being found to be created by investors who have a vested interest in the stock.
From the You Tube video created by Aaron Rockett (admitted investor in KNDI) to Arthur Pocard who has appeared in the Aaron Rockett video.
KNDI has a mssive debt load with no capital to bring their business model to frutition. They are leveraged to the hilt with more convertable shares getting ready to hit the market at any time.
You mean a you tube video from Aaron Rockett who is a biased investor!
Again, Did you write this fluff piece?
KNDI has proven that it is a company leveraged with debt with no way to pay except issue out more convertible stock.
And with the name calling, just shows that you are pumping the stock with no credible discussion as to the stock itself.
Did you write this? Another fluff piece to add to the pump.
Fact of the matter certain personal are pumping the stock.
This company is full of personal loans and shadow banking practices.
If this comapny was for real, investors in China would be calling on this stock and banks would be willing to loan to the company, not the individual.
Correction: Shanghai Maple a subsidiary of GEELY motors which by the way sells all chassis and frames to Kandi and owns the patent rights to the technology.
KNDI has shown itself time and again to be a pump and dump scheme to defraud investors to pay for bank loans (34M USD) taken out by individuals in the company (pages 26-27 of the last quarterly statement).
The November Quarterly statement also shows that the company is in serious financial trouble and needs capital. How did a company that is negative capital pay over 144M USD this year alone? This is from paqe 36 of the Nov Quarterly statement.
Pursuant to the JV agreement, the Company contributed RMB 500,000,000 (approximately $80,788,464) in the second quarter of 2013 to establish the JV Company. In the third quarter of 2013, in connection with the acquisition of Kandi Changxing, the JV Company paid the Company RMB 400,000,000 (approximately $64,292,970). Because Kandi Changxing did not commence normal manufacturing operation until after it was acquired by, and transferred to, the JV Company, the divestiture of Kandi Changxing had a minor impact on the Company’s profits and losses.
Minor impact! 144M USD paid out. The company never made 144M USD in one year. Where did the money come from? Shares of course. Each time money is needed KNDI puts out false press releases like the one in June 2013 about comparison to Tesla Motors TSLA, that later proved to be false. The company paid spammers to spam about their company like they are now and ran the stock up and dumped it. They made enough capital to buy into the JV with Shanghai Motors.
Thank you for making my point about a hyped up pump and dump scheme. Goldman Sachs has never Initiated any analyst rating or have taken a position in a reverse merger stock scam.
Ridicule and snide remarks are the hallmark of a few individuals pumping a stock without any useful information except for information that cannot be verified and or quantified.
Thank you sir for the kind words.
I trade options not pinks. Second, pump and dumps are against the law.
So you are saying that this is a report only you see and tell the masses. Now who is embarrassing themselves. First you say buy the report now you are saying I cannot buy the report. Again send me the name of the Goldman Sachs advisor, because today I will send Goldman your posts.
Please provide the link to this so called Goldman Sachs report so I can pass it along to the SEC.
to all investors please see below article below and the paragraph in bold. this shows that investors in china do not see any significant improvement in the EV subsidy so are not inclined to entertain the market.
Here is another report from Bloomberg on the EV subsidies. It seems that an electric vehicle maker in china that is supported by Berkshire Hathaway is falling but yet KNDI moves up over 100%.
http://www.bloomberg.com/news/2013-09-17/china-renews-electric-vehicle-subsidies-without-adding-hybrids.html
China Renews Electric Vehicle Subsidies Excluding Hybrids
By Bloomberg News Sep 17, 2013 11:16 PM ET
1 Comment Email Print
China, under pressure to reduce air pollution, renewed a subsidy program for alternative-energy vehicles such as electric cars. One notable exception: hybrids.
The central government will provide as much as 60,000 yuan ($9,800) toward the purchase of an all-electric passenger vehicle and as much as 500,000 yuan for an electric bus, according to a joint statement by the National Development and Reform Commission and finance, science and industry ministries. Fuel-cell vehicles, which are powered by hydrogen, were included for the first time in the plan and will qualify for as much as 500,000 yuan in rebates.
China has lagged behind its own target to have 5 million electric automobiles by 2020 because of high prices of battery-powered models, concerns over safety and a lack of charging stations. By the end of last year, when the previous round of subsidies lapsed, there were only 27,800 EVs in use, prompting Industry Minister Miao Wei to suggest in March the government should consider stepping up its promotion of hybrids and other fuel-efficient vehicles.
“The new policy is basically the same as the previous one and doesn’t really address the underlying problems,” Han Weiqi, an analyst with CSC International Holdings Ltd. in Shanghai, said yesterday in a phone interview. “Unless there are follow-up measures to step up support for hybrids, today’s policy is not expected to spur the EV market.”
Vehicle Subsidies
BYD Co. (1211), the maker of electric vehicles that counts Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) as a shareholder, fell as much as 3 percent as of 11:12 a.m. in Hong Kong trading. SAIC Motor Corp. (600104), which began offering its Roewe E50 electric car in November, slid as much as 1.4 percent in Shanghai.
Hybrid models, which run primarily on a gasoline engine with a backup battery, have lower incentives of 3,000 yuan under a different plan for fuel-efficient vehicles.
Under the new program, the central government will focus on promoting the use of new-energy vehicles in the three regions anchored by Beijing, Shanghai and Guangzhou using subsidies through 2015, according to the statement, which was posted on the finance ministry’s website.
The central government also set targets for local authorities to have at least 30 percent of new-energy vehicles made by automakers based outside of their jurisdictions. It also directed public agencies to take the lead in using alternative-energy autos.
The subsidies for electric passenger vehicles, including plug-in hybrids, will be lowered by 10 percent next year and by 20 percent from this year’s level in 2015, to encourage automakers to lower the costs of such cars, according to Han at CSC International.
“A new subsidy plan has been long awaited,” Ole Hui, Hong Kong-based analyst at Mizuho Financial Group Inc. (8411), wrote in a report today. “This new plans seems less aggressive than earlier targets.”
To contact Bloomberg News staff for this story: Tian Ying in Beijing at ytian@bloomberg.net
To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net
Here is a press release from China Car Times about Kandi.
http://www.chinacartimes.com/2013/06/who-is-kandi-technologies-group/
On June 5 (June 4 in the USA) a Chinese vehicle manufacturer named Kandi Technologies Group, Inc. which is listed on Nasdaq (KNDI) issued a press release announcing that their first pure electric sedan jointly developed by Kandi and Geely had received Chinese government approval and purchasers would be eligible to receive government EV subsidies. Within a week Kandi’s stock price doubled, from $3.73 on June 3 to $7.85 a week later.
All of this started less than a week after Tesla Motors Inc. hit its high of $110 after rising from $38, a nearly 3X increase in less than 2 months. Could Kandi be a case of investors looking for a Chinese version of Tesla?
The press release issued by Kandi was a little misleading. The JL7001BEV listed in the press release is not a sedan in the American use of the word, it is a hatchback . In fact, it is little more than an electric conversion of a Geely Panda, which has been called a copy of a Suzuki Alto and a Toyota Aygo and cannot be sold under the Panda name outside China because it infringes on the Fiat trademark. There is no way the Kandi JL7001BEV will ever be a competitor with Tesla Model S, despite what some KNDI promoters may say.
Who is Kandi Technologies Group, Inc.? They are a shell company purchased in 2007 to take Zhejiang Kandi Vehicles Co., Ltd. public in a reverse takeover merger. Unlike other Chinese reverse takeovers, Zhejiang Kandi Vehicles is a real company manufacturing ATVs, UTVs, Go Karts and the two passenger Coco neighborhood electric vehicle. The Coco is a fiberglass knockoff of the Mercedes Smart car powered by lead acid batteries with a top speed of 50 miles per hour. Kandi Vehicles exports more than 80% of products to the United States and Europe . Their USA distribution network consists of 17 distributors in 12 states.
The JL7001BEV is not manufactured or sold by Kandi Technologies Group, it assembled and sold by Zhejiang Kandi Electric Vehicles Co., Ltd. a 50:50 joint venture between Zhejiang Kandi Vehicles Co., Ltd. and Shanghai Maple Guorun Automobile Co., Ltd. (a 99% owned subsidiary of Geely Automobile Holdings Ltd. (Hong Kong Stock Exchange, Stock Code: 175)). But as noted above the core vehicle technology is ‘owned’ (albeit copied?) by Geely. All Kandi is doing is buying chassis from Geely and converting them to electric vehicles. Kandi Vehicles is based in Jinhua, Zhejiang province, not far from where the headquarters of Geely are located. In other words they are a geographically convenient partner.
Geely makes out great in this joint venture: they profit once when they sell the chassis to Kandi Electric Vehicles and then take half the profits again when Kandi Electric Vehicles sells the vehicle to the customer (government?). So why has Geely’s stock not doubled? In fact Geely started from HK$3.77 on June 3 and fell to HK$3.64 on June 13, losing 3.4% of its value.
And what about this approval the Kandi JL7001BEV received? Well back in 2010 the Ministry of Finance, Ministry of Science, the Ministry of Industry and Information Technology and the National Development and Reform Commission got together to issue the “Notice On The Private Purchase Of New Energy Vehicles Subsidy Pilot” which offered subsidies for new energy vehicles purchased by individuals. Except that this pilot program ended in 2012 and as of today there are no national subsidies to encourage private individuals to purchase electric vehicles in China.
So while Kandi gained approval to be added to a long list (with over 200 vehicles), as of today there are no national government incentives to be had. According to the China Association of Automobile Manufacturers the end of state subsidies has caused sales of electric vehicles to private individuals to almost stop altogether. Another small detail left out of the Kandi Technologies Group press release. And yet somehow the stock doubles in price.
The problem with companies which are taken public by reverse takeover is that they often end up with related party shareholders who were able to buy substantial numbers of shares cheaply ($0.15 six months before the IPO) and promote the stock. When Kandi made their reverse takeover 40% of the stock was owned by Stone Mountain shareholders. This means that a considerable portion of KNDI shareholders never invested in Kandi and their only interest is to sell their shares at the highest price possible for an incredible profit. They are not investors, they are speculators.
While omissions from the June 5th Kandi press release may be innocent, it seems Kandi has a habit of making mistakes And Kandi Vehicles has a USA subsidiary so command of the English language should not be an excuse. These mistakes allow others to take advantage of a misleading press release and promote the stock.
For six months prior to the June 5 press release the market evaluated KNDI and agreed on a rather stable price between $3.50 and $4.00. This despite repeated promotion on SeekingAlpha.com by a shareholder with a vested interest in pumping the price. These ‘articles’ compare Tesla with Kandi, luring the interested Tesla investor and are riddled with glaring mistakes (Geely is nowhere close to the “#1 passenger car position in China”). Wait a few weeks. You should find KNDI trading back around the sub $4.00 range.
SEC Complaint TCR: TCR1388975590627. I will be working with them in regards to the false statements and videos posted. Thank you for the evidence. Stay safe.
Good Luck. I have contacted the SEC in regards to KNDI.
Evening Pennyworld
KNDI has 32M Float as of their last Q. The short interest is rising exponentially to the shares trading.
The Chinese government is not backing KNDI, they are backing a green initiative in which KNDI business model is trying to capitalize on.
looking into their financials will show nothing but as scheme of bank loans and money shuffling, nothing more.
Good luck sir and see you at 4 dollars.
MOMO about over here. Buying puts at the 10 and 7.50 line.
Please read the Quarterly more closely. it reads like a pink stock scam. In two years they show that they have the same exact assets and liabilities for each year. In physics you would call that an aggregious anomoly, meaning it does not compute with what the rest of the statement belays..
This stock will show its true colors once the smoke and mirrors are removed. All this company has is debt and no way of achieving anything other than investors money once the dump starts..
Good luck.
In the end KNDI will prove itself another pump and dump scheme with no real value except for fluff pieces to stir the masses to buy their pipe dream.
KNDI a Pump and Dump?
KNDI has posted spotty Quarterly statments with only one Q reported in 2012 and missing Q statements going back to 2010.
As of March 2013 (last cash flow statement available. Source; Yahoo finance) it is easy to see they are borrowing from peter to pay paul.
Their net borrowing as seen against changes in accounts receivable should warn the investor there is a major problem with this company in terms of negative income flow as opposed to its current market cap of 441.89 million dollars.
I do believe with this stock now in the spot light, the SEC will be looking at it more closely and will be asking for the missing financials in the near term.
KNDI looking like a shooting star formation. Time to buy the 10p.
AMZN on alert.
AMZN has finally met the resistance of all resistances at 405. AMZN is between R1 and the pivot point on the daily scale. With the dark cloud forming on friday, AMZN could see a churn on monday at the 395-398 level. If it cannot break the 400 again, watch for a pullback to the 375-380 area by next friday.
Evening LEGGMASON;
As a trader who has made money fromn BAC option trades in the last three years, I would say hold off until wednesdays FED decision. Volatility will be on monday and tuesday but just enough to lose premium, not make a decent trade.
The MACD and the ADX is still showing a continued fall with stops at the pivot point which BAC is at now and an RSI smoothing out at the 48-50 level. Not enough swing here one way or another until wednesdays decision.
LULU seller almost done. looking for a nice rebound in the 62-62.50 area by Tuesday.
Yesterday the short shares increased by 180%. Watch for a major set back when the financials are released.
TWTR Short alert.
yesterday over 180% of the current short shares were bought sending the stock at one point over 6%. If memory serves me well, FB did the same and fell over 47% before starting its climb back a few months later. This is one for the ages if played right. I will be buying Mar 14 21 Dollar puts when I see the short buying diminish. I do see this getting ugly when they post their first earnings release.
LULU shorts are still in play. Watch for a pop in the coming days.
$COMPQ is holding the line of death at 4000 pretty well. Support is dug in tight. If this holds watch for a good day tomorrow with a 15-17 point jump.
AMZN on watch.
AMZN has been in a holding pattern for 6 sessions and now going into the 7th trading session. If this pattern holds today, AMZN could see a bump back to the 398-400 area if the market starts to recover tomorrow with a big push in the tech ETF sector.
MA huge news.
Today mastercard announced a 10-1 forward split. This will drop mastercard to a price level around 80-83 dollars per share. This is to take place on Jan 21st. Please read below.
http://finance.yahoo.com/news/mastercard-split-stock-raise-dividend-215541043.html
AZO on major alert. De ja vu for the third time maybe?
On May 21 2013, AZO made its Earnings and the volatility that day was unreal. Opened at 413, rose to 435, fell back to 413, then ended the day at 427.
On Sep 25 2013, AZO made its earnings and the volatility that day was open at 416, made a high of 428, fell before lunch to 410 then clawed its way to a 425 close.
Today AZO earnings look eeerily like the last two earnings reports, Beat on EPS tied are very slight below revs.