Kandi Technolgies Corp (KNDI)

[silencedogood2011]

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.