I like to see that the light electric vehicle segment is 40% of revenue in 2012. Also, the new small capacity battery segment is 29%. Together that is over 2/3 of revenue for 2012. China labor costs have risen so it is good to see the newest Dongguan facility with modern machines doing well.
Once the settlement, voluntarily entered by both parties, is done with and funds transfered out of escrow are paid (not even 1/2 cent per share!) we will see what ABAT does next. We didn't even make it to pre-trial discovery so Pomerantz knew they had no chance of a judgement, just the appearance of wrong doing by a sophisticated short attack. GLTA longs.
= the release of the promised internal audit data?
They would have been better off to release nothing instead those lies. They even admitted they started with 2011 numbers and then just changed some things. So twisty, did you email them and ask them if they really sold $11.1M in miner's lamps in 2012? How come?
If they really want to give the real numbers to shareholders, why don't they just release their SAT filing so we can see the REAL numbers? Is it because the real numbers would show a loss in 2012? Even someone as delusional as yourself must understand that 37% margin is a blatant lie when you can't show anybody else in their sector even making 10%. CBAK just filed yesterday and showed yet another quarter where they had to sell product below cost. That is the norm.
ABAT is taking on debt and cash decreased to $7M. If that isn't your proof they are losing money, I don't know what is. The whole crux of the small settlement is because they don't have any assets to attach. Read the court docs. The settlement won't happen until they disclose the assets that could be attached. The Wuxi and Harbin land and facilities are now pledged for loans... how much you want to bet Dongguan is taking on debt this year!
For all of you trying to say they have more cash in the holding company... BUNK! They can't keep assets there or the court could have frozen them to pay a judgment. All their cash is with the subsidiaries in China. That you can count on. You can't even make this look real with your lies and twisting of what they reported. If they reported numbers this bad, just imagine what it is really like.