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  • lolita_cachita lolita_cachita Mar 15, 2012 11:40 AM Flag

    If You Think the Chevy Volt Has Problems.....

    " At the end of last year, ZAP announced that it and China Electric Vehicle Corporation (CEVC), an entity affiliated with Cathaya Capital, have agreed to extend the maturity date of a $19 million convertible note held by later until August 12, 2012."

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    • " A quick look at ZAP’s financials reveals that ZAP will probably need another extension as the company has reported revenues of $3,816k (2010), $4,068k (2009) and $7,588k (2008); net losses of $19,018k (2010), $11,276k (2009) and $9,807k (2008); and had $4,817k in cash and $1,426k in short term investments to cover $50,789k in current liabilities and $78,883k in total liabilities. Of course, that’s if you believe any financials reported from what’s effectively a Chinese company listed in the US."
      Capital can exert their rith to convert the $19M debt into 134,265,000 common shares of ZAP.

      Or CEVC,aka,Priscilla Lu,aka Cathaya
      fwiw: Cathaya Capital, L.P., a greater than ten percent beneficial owner of ZAP, is the sole shareholder of China Electric Vehicle Corporation and Priscilla M. Lu, a director of ZAP, is its director. Due to its affiliation with Cathaya Capital, L.P. and Ms. Lu, China Electric Vehicle Corporation is a member of their greater than ten percent beneficial ownership of ZAP reporting group.

      "No , im not going to post any links, no details . You work it yourself...."

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