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Advanced Battery Technologies, Inc. Message Board

  • lbcb321 lbcb321 Feb 8, 2013 2:44 PM Flag

    I believe Foo himself purchased ABAT shares at near $3.

    Not exactly. He purchased the shares of somebody else as a condition to buying a subsidiary ABAT already owned. It was just shoveling money from one pocket to another. It is amazing you think Foo cares about what happens to his 10% of the outstanding shares when he does nothing and owns 100% of the company. You are misrepresenting what actually happened to imply he took his own cash and went out into the market to buy stock. That isn't what happened and the circumstances have been clearly documented. Why do you persist in making this look like a pump & dump scam?

    Did Joel and others tell you to tone it down so you had to create many new aliases? You aren't fooling anybody, twisty. Not only are you going to lose all your money, but you may have other consequences from your fraudulent manipulation.

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    • Qiang is not his son. The name Qiang amperex does not refer to his son, furthermore Foo from CLTT is not his son. Nothing is proven. About Foo's house being rented out, this is not proven either.

      The transaction with the 2million no 3 million shares is not proven too. This is the 5% left over VVR #$%$ that still is left up in the air after the 95% steaming pile has been proven utter lies. This is what LB is clinging too.

      Even if all this left over #$%$ were proven true, obviously it has not been of very much detriment. ABAT has a really impressive new facility actually more like a campus including apartment buildings.
      If a significant amount of money was stolen these successes would not of been realized. Foo's annual Salary is 250k which by western standards is probably on the lower end and is quite in line with what it should be.

      Coupled with their move into Spain with goals of 1800 ABAT Connection retail stores and the, development of new products is a sign of expansion.

      I know as a short seller you are programmed by certain timelines and figures to make a determination statistically but in this case this one will pull through.

      • 1 Reply to goalis100000in1year
      • Wow, therealfacts... this is one of your more delusional aliases:

        =Qiang is not his son.

        Proven from CLTT filings. project just gave the proof.

        =About Foo's house being rented out, this is not proven either.

        That one was the only related party transaction ABAT actually DID disclose. From their last 10-Q:

        15. RELATED PARTY TRANSACTIONS

        In July 2009, the Company signed a lease agreement with the Chairman of the Company, Mr. Zhiguo #$%$, to lease a house owned by Mr. #$%$ for the purpose of accommodating the frequent travel lodging needs for the Company’s employees in China traveling to the U.S. The monthly rent is $4,000 and the lease will expire in three years.

        Here is another related party transaction:

        The Company also loaned $19,355 to RDX Holdings Limited. The entire amount is expected to be paid back in May 2009 without interest. The loan is still outstanding and past due as of the date of this report. Zhiguo #$%$, the Company’s Chief Executive Officer, is a member of the Board of Directors of the parent of RDX Holdings Limited.

        How come they are giving out interest free loans to companies Foo has an interest in and not listing them under "Related Party Transactions"? All kinds of improper things like this pop up when you actually read their past filings.

        =The transaction with the 2million no 3 million shares is not proven too.

        I gave you two of the filings it was verified in and I'm sure it would have appeared in subsequent 10-Qs and 10-Ks.

        The purchase price of Wuxi was also a lie. They claimed it was different things. From $9M to the $12M range. It was at least $20M and probably more by the time they finished paying all the Wuxi debt they took on:

        Fair value of common stock issued 9,870,000

        Short-term bank loans 7,328,112

        Accounts payable 5,285,072

        Other liabilities 7,881,006

        It is unclear just what the true value of the assets was at the time of the purchase. This was a very convoluted process where they claimed to own 100% back in 2007 and then "purchased" the assets again a couple years later:

        Effective May 4, 2007, the Company, through its wholly-owned subsidiary, Cashtech, Inc., completed the acquisition of 100% ownership interest of Wuxi Angell Autocycle Co., Ltd., now known as Wuxi Zhongqiang Autocycle Co., Ltd. (“Wuxi ZQ”).

        This reference was just misleading and not fraudulent. It didn't say they acquired 100% of the CAPITAL STOCK like other references did only to see them purchase it again at a later date.

        There are so many red flags in their filings that it is incredulous the delusional here still think Foo's Poo doesn't stink when the actual filings show an amazing level of self-dealing.

    • So your opinion is 3 million shares issued for this transaction. Twist found and SEC filing that says 1 million purchased. 1 million transfered for operating costs. Your OPINION is 3 million issued and NONE purchased at market prices. That is your interpretation.

      The 3 million vs 2 million (1.8M + 0.2M) is up for debate. Personally it looks like a typo on the 3 million since 1.8M + 0.2M is crystal clear 2M. Either way it is the transaction for operating costs and transfer of ownership.

      You are hung up on this 1M shares which you are SURE is Foo stealing. That is your OPINION and not a FACT you can PROVE no matter how many more word you throw at this OLD ARGUMENT from YEARS AGO. You looking for loose threads to pull apart the sweater and maybe you found 1M shares. That is less than 1% and from years ago. Find something new. Oh you can't. According to you they are getting revoked by the (wait for it...) SEC! We know you opinions and what you call FACTS in your crazy world. You were just busted by me on 2 more lies so what is more, right?

      • 3 Replies to anotherlbcbalias
      • =Twist found and SEC filing that says 1 million purchased. 1 million transfered for operating costs.

        This really gets confusing when you refer to your other aliases in the third person. Why don't you pick one of your aliases to back this up. Tell us what day the filing was made on and show us that only 1 million shares were transferred and there was a purchase of 1 million shares. I showed you exactly how to look up the filing that clearly stated 3 million shares were issued and gave you the exact quote from the 8-K issued 05/04/2009:

        "In addition, Advanced Battery Technologies, Inc. issued three million shares of its common stock to the sellers."

        Wow... just wow. In the face of the PROOF, you still mumble about lies and conspiracies and that somehow by pointing out your lies and showing the PROOF you are being "threatened".

        Seek help, David. You have completely lost it.

      • =So your opinion is 3 million shares issued for this transaction.

        No you D-F... it isn't my opinion. It says that in the 8-K. Why don't you learn how to read.

        "In addition, Advanced Battery Technologies, Inc. issued three million shares of its common stock to the sellers."

        Which of those words are too hard for you to understand? I typed them really slow this time so maybe you can understand them this time. Wow twist... this alias is even denser than the rest. You really follow through on your delusions and psychoses and go all out to give them distinct personalities. Must have learned that one from realdunce.

      • 1.3% to be more specific

    • It was 05/04/09
      1,000,000 shares ABAT purchased at $2.65 by CEO

      This is public record so no need to distort what I am saying and threaten me with consequences. Last month the CEO posted an upbeat letter to investors on a public access webpage. Things are looking up for 2013.

      Sentiment: Accumulate

      • 3 Replies to twist.nrev
      • This lbcb character is unbelievable! Here is some text from the counter to VVR (anonymous shorters who cut and ran) allegations:

        " The Variant View report notes that our Chairman, #$%$ Zhiguo, is identified as an officer and legal representative of Shenzhen ZQ in that company's government registration. That is correct. In order to register the acquisition of Shenzhen ZQ by Harbin ZQPT with the provincial government, Mr. Wang, the seller, gave Mr. #$%$ a power of attorney to represent the company before the government. This was solely an administrative convenience, as the purchase of Chinese companies cannot be completed without government registration performed in person.

        Allegation 8: ABAT spent $22 million or 7x sales to acquire a failing and possible related company.

        The Facts: Once again, Variant View simply has its facts wrong. The purchase price paid by ABAT for Wuxi ZQ was $12.87 million (cf: ABAT 2009 10-K, Note 3 to the Financial Statements), not $22 million. Variant View addresses Wuxi ZQ's sales in the period before we obtained it, but they neglect to tell you how the subsidiary fared after the acquisition. In 2010 Wuxi ZQ had pretax net income of $15.7 million (cf: ABAT 2010 10-K, Note 22 to the Financial Statements). In other words, we recovered our investment in less than one year! Frankly, we have a hard time being less than proud of this acquisition.

        We purchased Wuxi ZQ from Bao Jin and Wuxi Baoshiyun Autocycle Co., Ltd. The only relationship between them and our management before the acquisition was as customers - Wuxi ZQ purchased batteries from Heilongjiang ZQPT. Bao Jin became a major shareholder by reason of the one million shares he acquired in the acquisition - not prior to it."

        Transfer of shares made to Foo and Cashtech, not just Foo you Basher!
        200,000 shares previously transfered OUT and 1.8 million more transfered OUT.
        YOU ARE PSYCHO AND YOUR AGENDA IS OBVIOUS LBCB.
        Go correct yourself again.

      • Look you lying POS... here is the exact agreement:

        EX-10.B 2 abat8ka200905041ex10-b.htm SHARE PURCHASE SUPPLEMENTAL AGREEMENT DATED APRIL 28 2009 AMONG WUXI BAOSHIYUN AUTOCYCLE CO., LTD., BAO JIN, CASHTECH INVESTMENT LIMITED AND ADVANCED BATTERY TECHNOLOGIES, INC.

        --------------------------------------------------------------------------------

        --------------------------------------------------------------------------------

        SHARE PURCHASE AGREEMENT SUPPLEMENTAL AGREEMENT (“Supplemental Agreement”)

        PURSUANT TO THE SHARE PURCHASE AGREEMENT dated April 27, 2009 (the “Share Purchase Agreement”) by and among WUXI BAOSHIYUN AUTOCYCLE CO., LTD. (“Baoshiyun”) and MR. BAO JIN. ID. Number 320202195808054011 (hereinafter referred to collectively as the “Selling Shareholders”); CASHTECH INVESTMENT LIMITED, a company organized under the International Business Companies Act of the British Virgin Island with the register number of 578455 (hereinafter referred to as “Cashtech”); and ADVANCED BATTERY TECHNOLOGIES, INC., a corporation organized under the laws of the State of Delaware (hereinafter referred to as “ABAT”), Cashtech and the Selling Shareholders hereby agree to enter into the following Supplemental Agreement:

        Article I. Parties agree to supplement section 2b of the Share Purchase Agreement with the following:

        The consideration for Cashtech to acquire the Selling Shareholders’ ownership of the registered capital of Wuxi Angell shall include:

        i. Three million six hundred and forty thousand U.S. Dollars ($3,640,000);

        ii. Seventy million Renminbi (70,000,000 RMB); and

        iii. Three million (3,000,000) shares of the common stock of ABAT (the “ABAT Shares”),

        $3,640,000, 70,000,000 RMB, and 1,000,000 shares of common stock of ABAT shall be designated to repay the debt Wuxi Angel still owes as a result of operation prior to the acquisition. In consideration, Wuxi Angel shall release the Selling Shareholders from any of its current or potential debts and liabilities, and the Selling Shareholders shall surrender to Cashtech any claims or rights relevant to Wuxi Angel’s operation.

        The Selling Shareholders shall transfer the 1,000,000 shares of common stock of ABAT to Mr. #$%$ Zhiguo, the Chief Executive Officer and President of ABAT and Cashtech based on the market price. The Selling shareholders shall enter into a stock transfer agreement with Mr. #$%$ Zhiguo to effectuate such a transfer (By nature, the transfer is not purchase and sell of stocks. The purpose of the transfer is to authorize ABAT the right to use the 1,000,000 shares.)

        Article II. The Selling Shareholders shall be entitled to the 2,000,000 shares of common stock of ABAT, 200,000 shares of which was delivered on January, 2009, with 1,800,000 shares to be paid in lump sum by ABAT or its controlling shareholder. The terms of transfer are set forth in Article III hereafter.

        Article III. Cashtech shall acquire 100% of the registered capital of Wuxi Angel, of which Baoshiyun owned 60% and Mr. Baojin owned 40% respectively prior to the acquisition. Therefore, Baoshiyun shall be entitled to 1,200,000 shares of common stock of ABAT and Mr. Baojin shall be entitled to 800,000 shares of common stock of ABAT, as a result of acquisition.

        Article IV. All parties to the Share Purchase Agreement hereby agree to amend the agreement as the following:



        --------------------------------------------------------------------------------



        1. Amend section 3k of the Share Purchase Agreement to the following: “Each Shareholder is acquiring the ABAT Shares for its own account or the designated account by the Shareholder. Each Shareholder has the right to freely dispose of, including but not limited to, resell the shares.”

        2. Delete section 5b regarding the right of rescission.

        3. Amend section 6 to the following : “The ABAT Shares to be issued by ABAT to the Selling Shareholders will be registered under the Securities Act of 1933, or the securities laws of any state, and can be transferred, hypothecated, sold or otherwise disposed of within the United States of America”.

        4. Regarding 3b of the Share Purchase Agreement, Wuxi Angell’s registered capital has not yet been fully paid, and the Selling Shareholders are on notice of and agree on this fact.

        Article V. The Supplemental Agreement shall be governed by the laws of People’s Republic of China. Any dispute arising under or in connection with Supplemental Agreement shall be settled at first through friendly consultation between the parties hereto. In case no settlement can be reached through consultation, each party shall have the right to submit such disputes to China International Economic and Trade Arbitration Commission.

        Article VI. This Supplemental Agreement shall be effective upon the execution by all parties. In time of conflicts, the terms in this Supplemental Agreement shall supersede the Share Purchase Agreement.

        The Supplemental Agreement may be executed in three facsimile counterparts. Each of the counterparts shall be deemed an original, and together they shall constitute one and the same binding agreement, with one counterpart being delivered to each party hereto.

        IN WITNESS WHEREOF, the parties hereto have set their hands as of the date and year written on the last page.

        WUXI BAOSHIYUN AUTOCYCLE CO., LTD.

        By: /s/ ________________

        MR. BAO, JIN.

        By: /s/ Bao Jin

        CASHTECH INVESTMENT LIMITED

        By: /s/ #$%$ Zhiguo
        #$%$, Zhiguo, Chairman
        Date: April 28, 2009

        READ THIS CAREFULLY:

        The Selling Shareholders shall transfer the 1,000,000 shares of common stock of ABAT to Mr. #$%$ Zhiguo, the Chief Executive Officer and President of ABAT and Cashtech based on the market price. The Selling shareholders shall enter into a stock transfer agreement with Mr. #$%$ Zhiguo to effectuate such a transfer (By nature, the transfer is not purchase and sell of stocks. The purpose of the transfer is to authorize ABAT the right to use the 1,000,000 shares.)

        Foo DID NOT take his own money and buy 1,000,000 ABAT shares on the open market. It was yet another shady deal where a million shares ended up in his name when the CLEAR INTENT of the agreement was... "The purpose of the transfer is to authorize ABAT the right to use the 1,000,000 shares."

        Lie all you want to these people, but the PROOF is here of what actually hapened. Don't claim to be victimized and threatened. You are a nut-case that has gone off the deep end. Now what do you say about his "purchase" of a million shares now that you have the PROOF of what happened and he wasn't even entitled to have them in his name. He STOLE shares that were meant to be used by ABAT.

      • Here is the English translation of the CEO's 2013 letter:

        Dear all loyal ABAT shareholders:

        I hope this letter finds you well. First of all, on behalf of the ABAT Board of Directors, I would like to express deep gratitude for your loyalty, care and long standing support for the development of the company. Rather than being intimidated by the malicious attacks in 2011, ABAT’s board and management team have become even more determined and confident to thrive and grow our business.

        Following this strategic guidance and under the strong leadership of the Board of Directors, the Company is accomplishing a healthy and steady development. In 2012, the Company integrated its resources, marketing and technology, completed the acquisition of Shenzhen ZQ which was subsequently merged with Dongguan Qianqqiang. The strengthened Dongguan Qianqqiang has gained rapid growth. We had a good performance in 2012, which will be presented in the internal audit report to shareholders.

        ABAT will be adjusting its organizational structure and will be introducing new talent to the Board of Directors in 2013. These are outstanding, talented management candidates who are vibrant, knowledgeable, and experienced. We have begun new intitiatives for the coming year. The first initiative will be to elect a new Board of Directors. Secondly, we adjusted the management team. Thirdly, we have reinforced our technical strength by bringing in a large number of new technical personnel. Our fourth intitiative is to strengthen market awareness and to capitalize on our intended market. Thus, we have formed a product marketing center. They will work tirelessly to achieve the company's set targets.

        Thank you for your long standing support and patience. I will live up to all your expectations and work hard with all the staff to achieve the Company's targets. I assure you that I have the ability to lead ABAT to its brilliance once again.

        Happy New Year/Chinese New Year to everyone!!!

    • I believe Foo' is enjoying shareholder's money and laughing saying ... How easy is to pull a scam to Americans

      Sentiment: Strong Sell

      • 1 Reply to lilbit1632
      • The 1,000,000 share purchase of ABAT stock and 2013 CEO letter shed light on intent and action. Yes, this is a 2009 stock purchase.

        Truth is ABAT would be trading over $3 per share today, perhaps even $5 per share, if the March 2011 self confessed short attack had not been initiated.

        The allegation that ABAT somehow damaged shareholders is false and without merit. It has been nearly two dozen months since the list of anonymous V V R allegations. ABAT has bounced off the 52 week low and is reaching higher as the Court case winds down.

        Sentiment: Buy

 
ABAT
0.342-0.003(-0.84%)Apr 17 3:42 PMEDT