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  • bookvalueup bookvalueup Jun 7, 2013 3:05 PM Flag

    ABAT;s Book Value

    is $3.50. Can anyone explain to me how a company that makes 30 million dollars a year in profit and has equipment worth triple that and has just spent 100 million + on expansion only has a market cap of 17 million. Is it the threat of losing a lawsuit?

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    • We don't know the book value.
      The audit results were to let shareholders know that 'ops' were in good shape.
      The problem is that they never disclosed where the cash is as there is no way they could have spent $100m in 5 months on a plant that was partically complete.
      I assume they considered cash as some on the inventory so as not to disclose how healthy they were and then have to pay Pom's legal fees.
      So on the surface 'ops' looks good but return on capital is a disaster.

      Sentiment: Strong Buy

    • "Is it the threat of losing a lawsuit?"

      No. You can throw a lot into the mix here, like lack of confidence in the numbers. ABAT is not reporting etc. But the one real material threat is that a lot of these companies go dark. You basically lose your investment when that happens. I don't think ABAT will go dark. Foo made a promise twice and why would they present the 2012 numbers if they were planning to go dark? You would have to have some nerve as CEO/Chairman to abandon the shareholders now. Not to mention that he would victimize his son, who is now CEO.

    • It's simple...they forge the numbers to make an illusion that they are financially making all what they claim they are. However, they haven't been able to produce any independently audited and verified financial reports/statements in over 2 years to back up their claim.

      ABAT has been great in making all kinds of claims, however when asked to prove it, the CEO becomes sick, gets frustrated with these mandatory requests and the CFO also suddenly becomes sick and resigns.

      • 1 Reply to bnymk
      • Dear Sirs,

        Yes. Mr Fuzzy had hard time verifying any one thing. China government is suspectful of ABAT is lying about the making of 30 milliion dollars profit. Now our leaders are meeting and seeing they both are spies. The case of ABAT should be brought up to the government. Chinese companies should no be allowed to lie and say "hey we making 30 million dollars a year when they making zero in profits. This no right.

        Please call Mr. Obama Husein Obama and Mr. Xi Jinping and advice.

        To press point home. But if ABAT innocent, then who did the wrong.

        Wang PRC

    • It is rather simple really.
      Sum up all of the cash ABAT accumulated via all of the many stock issuances.
      Add that to all of the reported profits.
      Add that to the total loan amounts.

      Once you have that number, subtract the reported amounts spent for buildings and improvements (do NOT include land costs, because.the land is not owned by ABAT; it is owned by the government).

      What is the resulting number you come up with?

    • Hi BookValueUp, you might try reading the earlier thread "When the dust settles, this will be over $2.50" and in particular the first post by jimsutter10. Jim has been following ABAT for a long time now and he has consulted attorneys about the matter as well as performed a great deal of research on ABAT. Also, if TwistNRev replies to this thread he also is highly knowledgeable about ABAT. Best wishes for all success to you. $3.50 is a valid benchmark.

      Sentiment: Buy

      • 1 Reply to kc79acres
      • Hi bookval... ABAT must work their way through legal issues which they have done successfully in the past. Settlement will kick off a return to the normal pattern of news releases. ABAT may continue trading on pink sheet. Or list on an Asian exchange. Or take the buy-out route and offer cash for shares. Several investors are petitioning for a dividend. There is a chance of the BOD approving this after settlement. Since ABAT is willing to defend against Pomerantz for 20 months it's clear they are sticking with the statement of no wrong doing. One requirement to list in China is that there has been no serious wrong doing for a number of years. The CEO may have relist in mind as he uses the words 'no wrong doing' in response to the 12 allegations presented by the anonymous short seller Variant View Research. My guess is final settlement will include V V R and an agreement to not file suit against them for damages. If this is included it verifies V V R as causation of steep share price. If it's not included ABAT will most likely seek reimbursement of damages from them. In the recent letters from the CEO to shareholders he has reaffirmed ABAT's integrity and intent to rebuild value. Investors may simply see a continuance of operations and value building. I am adding shares as I feel the long target is North of $2 and as much as $4. Depends on the direction ABAT pursues after settlement. Investors have been on a rollercoaster ride here with ABAT. We are sticking it out and buying low to cost average. The 2012 internal audit is released and if accurate shows ABAT as being fiscally stable and well positioned going forward. I have reason to believe the audit is accurate as anything less would be counter productive to the goal of returning to normalcy. I have added about 80,000 shares in the last six months at an average cost of $.25 per share.

        Sentiment: Strong Buy

    • is 0 this why it in pinks lol...

0.0410.000(0.00%)Dec 30 3:47 PMEST