Kandi produced over 4000 driverless EV last month. In total they have probably produced almost 50,000 driverless EV of some sort in their entire history. Kandi needs to find just one buyer not related to them, and then perhaps if they can get just one driver then things will progress from there.
Sold to whom? A related party that is no longer allowed to collect government subsidies, and has no significant rental income to pay for the Pandas they are taking. Unfortunately, nobody else seems to want to purchase the Pandas so the JV will have to continue sending them to their related party.
Kandi JV not receiving any money, either from Chinese government in the form of subsidies or from their only related-party customer. Therefore Kandi JV cannot pay down anything on the over $150 million they owe Kandi, and Kandi can't pay anything on the over $100 million they owe the battery supplier.
Kandi is a text book case of Chinese reverse merge fraud.
They are also doing a Gaymobile in rainbow colours. 100 million gays in China. 10 million want the new Kandi Gaymobile.
Instead of posting Porcari's red herring #$%$ about Sept 11 Puts, why don't you bring his explanation of what happened to the 700,000 shares that had to be delivered for the June Puts?
If you want to see how bad their auditor was and how crooked Kandi management is, then go read the scathing report that the PCAOB released in May.
He doesn't need an entire book, the SEC makes Kandi puts this important statement in their Annual Report to the SEC:
The audit report included in this Annual Report was prepared by auditors who are not inspected by the Public Company Accounting Oversight Board and, as a result, you are deprived of the benefits of such inspection
The independent registered public accounting firm that issues the audit reports included in our annual reports filed with the SEC, as auditors of companies that are traded publicly in the United States and a firm registered with the Public Company Accounting Oversight Board (United States), or the “PCAOB”, is required by the laws of the United States to undergo regular inspections by the PCAOB to assess its compliance with the laws of the United States and professional standards. Because our auditors are located in Hongkong, a jurisdiction where the PCAOB is currently unable to conduct inspections without the approval of the PRC authorities, our auditors are not currently inspected by the PCAOB.
Inspections of other firms that the PCAOB has conducted outside China have identified deficiencies in those firms' audit procedures and quality control procedures, which may be addressed as part of the inspection process to improve future audit quality. The inability of the PCAOB to conduct inspections in China prevents the PCAOB from regularly evaluating our auditor's statements, audits and quality control procedures. As a result, investors may be deprived of the benefits of PCAOB inspections.
The inability of the PCAOB to conduct inspections of auditors in China makes it more difficult to evaluate the effectiveness of our auditor's quality control and audit procedures as compared to auditors outside of China that are subject to PCAOB inspections. Investors may lose confidence in our reported financial information and procedures and the quality of our financial statement
Financestar keeps his KNDI chart on a wheel. When the stock falls, he turns his wheel anti-clockwise and it looks like it is going up.
I don't know why you bothered to mention Brexit, since your mantra has always been "The markets are open, Kandi is still trading - Buying Opportunity!!!
From D1EV news.
" The new energy strategy Geely itself developed - blue Geely action plan does not contain known beans and Condi joint venture. "We want to concentrate on the blue Geely action plan well, the full implementation of the good. Other new energy automotive business will be spun off."
Porcari has contacted the SEC about the missing 600,000 shares, but the SEC decided instead to issue letters of reprimand to both Porcari and Azbo for not filing a Form SC-13D after purchasing more than 5% of Kandi outstanding shares on the open market.
A preliminary count would indicate that some 75 individuals on the private board each own more than 5% of the company.
No. Puts and Calls have an expiry date. The June Puts have now expired and if there are any that were NOT exercised, then the holder lost their money. Actually, most Calls and Puts expire without being exercised. The reason for that is the person writing the Calls and Puts only do so as a hedge against a rapid rise or fall in the stock price.
The September Puts are a whole new set of bets that the price will fall. Obviously the owner of the underlying shares is hoping that it will not fall and he/she gets to keep the money as the Puts expire without being exercised by the purchaser.
Go back to the kool-aid board and ask Porcari to give you his spin on the following facts:
1. For every Put that exists, the person who wrote the Put owned 100 shares of Kandi.
2. When the purchaser of a Put decides to exercise that Put, the person who owns the underlying stock and who wrote the Put has to deliver the shares.
3. The rules don't change depending on the number of Puts written.
Now maybe Porcari will sing you a tune about shorts writing "naked" Puts, so ask yourself why would someone write naked puts instead of just naked shorting the shares?
I believe it must be some sort of Kandi stock equinox in the part of Texas where the pink sheet pimp Porcari lives.