Kandi Technolgies Corp (KNDI)

[silencedogood2011]

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.