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Posted by cashmoney on Jan 07, 2011 /

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WOLDUMAR   Friday, 01/07/11 03:01:07 PM
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Posted by cashmoney on Jan 07, 2011 | No comment

ZAP (OTC: ZAAP) develops and commercializes electric vehicles and is also engaged in the development and acquisition of electric vehicle power systems. The company is mainly operational in the United States, offering on-campus vans and trucks to various organizations such as Government outfits.

ZAP in December announced commencement of its Shanghai project for development of a Green City Zone. The company has entered into collaboration with the government of Yangpu District of Shanghai, a research and University hub with more than 1.24 million inhabitants. Per the agreement, the company will work in collaboration with the local government for the utilization of electric vehicles for the purpose of public transportation.

In the fall of 2010, ZAP agreed to buy a 51% stake in Jonway Automibile Co., a subsidiary of Jonway Group, for approximately $29.03 million in cash. The company also has formed a joint venture with Holley Group.

ZAP reported $985,000 in revenue for the quarter ended on Sep. 30, 2010, while its net income from continuing operations stood at $(1.887) million. The company valued its total assets as on the end of the quarter at $22.422 million and its total liabilities were valued at $8.117 million. ZAP stock has traded in the range of $0.26 and $1.86 during the last 52 weeks. The company’s EPS is stated at ($0.10). ZAP commands a market cap of $255.92 million.

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