CC,
I'm not an expert on this stock, but I do hold 200K shares. Essentially, Ener1 lent THINK a large sum of money to keep it afloat. THINK went bankrupt and Ener1 realized it was going to have to restate earnings to reflect the loss. Ener1 missed a filings deadline and was delisted. The stock has been going backwards ever since...
Ener1 is also the target of multiple class-action suits. In a filing this fall, they used some very broad language to warn investors that the company was unsure of its future. I'm confident the language was simply to insulate them from further suits, however, I think the language may have spooked the market.
We are awaiting for Ener1 to restate past earnings and come current with its filings. Once that occurs, hopefully there will be an outline of a plan to get the company relisted. THINK is scheduled to a rebirth in March...
Other thoughts on the subject?
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