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  • discountbrains discountbrains Apr 11, 2014 12:41 PM Flag

    The statement yesterday that ABAT has no intentions of becomming current

    sounds to me like its coming from the plaintive and is a conclusion on their part and wouldn't be admissible in court and shouldn't be taken as a statement from ABAT. Just wanted to set that straight. I'm no legal scholar though. If #$%$ says they will announce what they're going to do when they make a decision sounds very much like dragging their feet and the classic 'stalling tactic' where they might completely close up shop in the middle of the night.

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    • Absolutely agree.

      Sentiment: Buy

    • dirk, sell your shares NOW!!!!!
      You are a such a pest....

    • yes the statemant comes from the plaintiff , from ABAT no statemant is necessary anymore , since more than 3 years they had could give an statemant , but they don`t , that`s statemant enough . the whole thing seems like an big bluff , Look , first allegations come out , than a class action and lawsuit which was long drawn out , than C.Braun claims 95ent per share , FUFUF refuses but 2,5 week later the stock climbed 1,10 , now Brauns lawyers saying " FUFU is in china , the compamy has no money , it`s difficult to act " , Pommerantz is saying nothing , abat is saying nothing .If you look from where abat is come from , first they bought a small company to comes to stockexchange , than the stockprice rose from below one dollar up to more than four . later mr.changg dang sold his stock short before the shortseller attac had taken place , after that untill now nothing happend to push the shareholdervalue , the last weeks after the settlement each day the stock is losing 1 ,2 or 3 cents . I think it`s over .

      • 1 Reply to dirk01199
      • =than C.Braun claims 95ent per share

        Just to clear one thing up. It was a different shareholder that objected to the settlement and asked for .95 to remove his objection. It wasn't the Plaintiff, Braun. It only matters because it is still up to Braun if he wants to pursue the case or have it dismissed. The other shareholder indicated on this board he sold his shares during the last rise and is done with them.

        = I think it`s over

        I think you're right. They would have filed an 8-K announcing the end of the other lawsuit if they were still on a path to coming current with the SEC.

    • =sounds to me like its coming from the plaintive and is a conclusion on their part and wouldn't be admissible in court and shouldn't be taken as a statement from ABAT.

      I agree and made sure I dug further and got it clarified it was from the attorney representing the Plaintiff and not from ABAT. What is important is that this was signed by THE attorney who was actually involved in the negotiations and not a flippant comment from some assistant that might not be up to speed on all the details.

      Everybody needs to understand that this is the law firm representing the Plaintiff in the derivative action that has said, "ABAT has made clear that it has no intention of getting current with its SEC filings." This is the attorney that was responsible for negotiating with ABAT. For her to say ABAT has made it clear they have no intention of getting current with the SEC is incredible.

      Other comments she made:

      "The Company has no money, which is why the securities fraud case settled for $275,000, so that is not a likely option."

      She saw the disclosures made by ABAT as to their financial condition and she said they have no money.

      "No judge or court can make ABAT get current with its SEC filings. Only the SEC, itself, can do that. At the settlement hearing, the judge said she had a good mind to call the SEC right up and tell them."

      I'm surprised there wasn't more selling. I don't expect this to hold .50 much longer. Guess this discussion got buried and not many people saw it. ABAT told the attorney they have no intention of coming into compliance with the SEC and that is big news. This is toast. If the judge did call the SEC and proceedings began, we could be seeing the suspension/revocation soon. Usually the company is given so many days to reply and then a default ruling is made.

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