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Advanced Battery Technologies, Inc. Message Board

  • jimsutter10 jimsutter10 Mar 8, 2013 2:30 PM Flag

    My Gut Says:


    Based on the following of what we know:
    1. Letter 11/23/2012 to reward loyal shareholders
    2. One 8-k filed a year ago
    3. Jimmy comes out of the woodwork late last summer voicing support for the company and the benefit of holding on to shares
    4. No earnings reports.
    5. No SEC filings at all.
    6. An unofficial website
    7. An unofficial website with a PR piece saying that they have a New BOD, New management, and are doing an internal Audit.
    8. A notice that we will receive the results of the internal Audit.

    So they are ignoring shareholders. They are blowing off the SEC. They formed a new BOD. Made all these changes and did so by pronouncing them on an unofficial web site. Hmmm.

    Does that smell like a going private deal? Nothing they are doing says that they give a hoot about the SEC.

    My bet is they will go private or announce such long before and ASM.

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    • I said it once before, but my gut tells me they are going to react to the forced shareholder meeting by announcing an intent to pursue the option to go private. It will be very vague and won't mention a single bank or private capital fund. Everybody will get all excited before they realize it is just talk and meant to get them to back down on forcing transparency.

      NEWN announced a buyout of $1.30 and it is trading in the .50s just like I predicted. No substance to the offer and it is not believed. SCEI rumored their buyout with no substance. Look at the volume. Somebody had to go all the way to .20 to sell less than 10K shares this week. The spread there is about 25% to 30% now to sell any volume. These bogus intent of privatization notices from known scams don't do much without any details. I also predict ABAT never files an 8-K for this "intent". It goes out in a rambling letter on their Chinese website. We'll see. Mark this post.

      • 1 Reply to lbcb321
      • " I said it once before, but my gut tells me they are going to react to the forced shareholder meeting by announcing an intent to pursue the option to go private."

        I was on board for a meeting and relayed this to the investor making the proposal. My comment, "Increased communication is a good thing". When the meeting morphed into an attack, then to legal action, is when I withdrew interest.
        We have word directly from ABAT that an internal audit (communication) is to be released. China policy states companies must provide a yearly audit, for tax purpose, by the end of April. If extension is needed it can be applied for. It would not be wise for ABAT to request extension. Investors expect audit results within 7 weeks.
        On the question of privatization, if ABAT has the rumored military contract, and is meeting e-bike sales estimates, taking the company private makes sence. But first Pomerantz issues will be settled. Noone should be surprised when this happens, it is presented to us in a roll out over 16 months. Shorts will continue to bash saying the deal should have been sweeter being ABAT has all that cash.

        Sentiment: Strong Buy

    • =Nothing they are doing says that they give a hoot about the SEC.

      Just the opposite. They are COUNTING on the SEC to revoke their registration. That way it isn't "their fault" shareholders got wiped out and there won't be any nasty lawsuits to have to wade through. They are taking every step possible to make the SEC take action against them. You just admitted many of the 8-K triggering events they failed to disclose.

      • 1 Reply to lbcb321
      • Taking all you listed into consideration. It appears ABAT wishes to preserve the current per share price. This is probably related to settlement of current litigation. What do I mean by this? I mean that it is much easier to argue "value or worth" of a company when share price remains relatively unchanged. ABAT is presenting in front of the Judge and the Judge wants to hear facts to make her decision. ABAT can state, "Our company is valued at XXX dollars as displayed by our current share price stability".

        I feel posters here on the YAHOO message board are digging unnecessarily deep into the reasons why. As far as the actions of Jimmy are concerned. it's my understanding that Jimmy is a secretary at ABAT. And anything he said, or may have said in private, to a caller is simply hearsay. I never heard a word from Jimmy and wouldn't know if a phone call to someone supposedly named Jimmy or representing himself as Jimmy was actually he.

        Sentiment: Strong Buy

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