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Kandi Technologies Group, Inc. Message Board

sailbad2011 16 posts  |  Last Activity: Sep 23, 2016 9:52 AM Member since: Jan 31, 2011
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  • Reply to

    New masculine and feminin cars?

    by financestar88 Jul 8, 2016 9:23 AM
    sailbad2011 sailbad2011 Jul 8, 2016 9:38 AM Flag

    They are also doing a Gaymobile in rainbow colours. 100 million gays in China. 10 million want the new Kandi Gaymobile.

  • Reply to

    Good time to invest in KNDI. I explain...

    by financestar88 Jul 5, 2016 10:06 AM
    sailbad2011 sailbad2011 Jul 5, 2016 10:20 AM Flag

    The market is open, KNDI is trading, what other reason do you need to buy?

  • Reply to

    Crooked politicians in China go to jail...

    by lylearonson Jul 5, 2016 11:30 PM
    sailbad2011 sailbad2011 Jul 6, 2016 9:44 AM Flag

    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

  • Reply to

    More Unusual Option Activity

    by gpls72 Jul 7, 2016 12:59 PM
    sailbad2011 sailbad2011 Jul 7, 2016 4:36 PM Flag

    What you should have learned a long time ago was the story about putting lipstick on a pig.

  • Reply to

    Crooked politicians in China go to jail...

    by lylearonson Jul 5, 2016 11:30 PM
    sailbad2011 sailbad2011 Jul 6, 2016 9:49 AM Flag

    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.

  • Reply to

    SEC should close

    by chinaisaskunk99 Jul 11, 2016 9:42 AM
    sailbad2011 sailbad2011 Jul 11, 2016 3:48 PM Flag

    Kandi can only offer them Notes Receivable for bribes.

  • Reply to

    Good time to invest in KNDI. I explain...

    by financestar88 Jul 5, 2016 10:06 AM
    sailbad2011 sailbad2011 Jul 5, 2016 12:39 PM Flag

    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.

  • Reply to

    Kandi Panda sold more than 2600 alone in May!

    by financestar88 Jul 11, 2016 7:19 AM
    sailbad2011 sailbad2011 Jul 11, 2016 9:14 AM Flag

    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.

  • sailbad2011 sailbad2011 Sep 7, 2016 4:38 PM Flag

    If they haven't covered for the last three years, then why would they bother to do so anytime soon? And you should hope that they never cover since they have made you so rich. Remember this? By my rough calculations you would have collected over $300K from the "shorts" over the last 30+ months

    by azbo2803 • Jan 8, 2014 5:37 PM Flag

    Yesterday I was approached by Fidelity (my broker company) if I would be willing to sign a "Securities Lending Agreement" which would allow them to borrow the shares in my portfolio from me in order to sell it to other shareholders. For this agreement they would pay me interest. They were specifically interested in KNDI and they would pay me 50% interest annualized. Lets say I own 20,000 shares of KNDI at a price of $13.50 that would be a total value of $270,000. 50% of that would be $135,000 annualized, divided by 360 would be $375 per day. The interest will be adjusted every day depending on supply and demand of the stock. The interest accrues daily and is added to the portfolio every month. The calculations are based on the respective closing price per day. I remain owner of the stock and can trade it anytime. I just "rent" it to them.
    I signed the contract. For every stock they have different interest rates depending on supply and demand of the stock.
    Two conclusions here:
    - The fact that they pay 50% interest for KNDI is remarkable and tells me that they do not have access to enough shares to satisfy the demand.
    - Based on that, there is a highest probability that KNDI is moving up.

    In general you should ask your broker if they have similar agreements. Participating banks are: Bank of America, Wells Fargo, and Fidelity

  • Reply to

    More Unusual Option Activity

    by gpls72 Jul 7, 2016 12:59 PM
    sailbad2011 sailbad2011 Jul 7, 2016 1:12 PM Flag

    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?

  • Reply to

    Hi everybody

    by wingtipvortex Sep 22, 2016 2:10 PM
    sailbad2011 sailbad2011 Sep 23, 2016 9:49 AM Flag

    Kandi's only business is with and through the JV setup with Geely. Instead of asking message board posters, why don't you read what their partner Geely filed with the Hong Kong Stock Exchange?

    The Company would like to highlight that the impact of policies affecting the electric vehicle industry in the PRC may not have been fully reflected in the profit or loss statement of the Kandi JV for 1H2016 as the drop in net profit was primarily due to the drop in gross profit margin for 1H2016 as compared to 1H2015 as explained above. Shareholders should, instead, take note of the cash flow statement of the Kandi JV for 1H2016 as the negative cash flows from operating activities clearly show that the ongoing delay and uncertainties surrounding subsidy payments from the PRC government authorities have begun to put a strain on the Kandi JV’s operating cash flows in 2016. The management of the Company expects this trend will continue throughout the remaining period of 2016 and in the foreseeable future, and the profit or loss statements of the Kandi JV are expected to gradually reflect the impact of such policies as the Kandi JV may not be able to sell its electric vehicles at competitive prices due to less subsidies being received (which will hurt demand from consumers) and may need to finance its operations by obtaining more short-term loans (which will increase leverage and overall finance costs) in the foreseeable future.
    http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0922/LTN20160922346.pdf

  • Reply to

    Driverless Cars in China coming

    by gpls72 Jul 12, 2016 9:39 AM
    sailbad2011 sailbad2011 Jul 12, 2016 10:40 AM Flag

    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.

  • Reply to

    Just added to my position

    by azbo2803 Sep 9, 2016 8:21 AM
    sailbad2011 sailbad2011 Sep 13, 2016 11:10 AM Flag

    Two trading days later and opportunity is once again knocking at your door!

  • sailbad2011 sailbad2011 Sep 8, 2016 9:17 AM Flag

    Yes, I do realize that 20K shares is an old number, but does it really matter since they are all made up anyway?

    However, it does seem odd that you would only have 20K shares one Jan, 8, 2014 when you purchased 30K shares on a single day in November 2013, but I guess when you throw half a million here and half a million there it becomes quite difficult to keep track of all of the Kandi shares that you have purchased. Here is your post from November 2013.

    azbo2803 • Nov 7, 2013 11:09 AM Flag

    I agree, Barth, I picked up another 30,000 the day before yesterday. I had a hunch that this would be a good idea.

    Isn't it about time that you file a Form 13 with the SEC to declare yourself a 5% owner of Kandi stock?

  • sailbad2011 sailbad2011 Sep 9, 2016 12:17 PM Flag

    I think the plan was to pretend to ship 60,000 cars and split the subsidy check.

  • Reply to

    Hi everybody

    by wingtipvortex Sep 22, 2016 2:10 PM
    sailbad2011 sailbad2011 Sep 23, 2016 9:52 AM Flag

    Here are some numbers for the Kandi JV provided courtesy of their partner Geely. Enjoy.

    JV revenue for full year of 2015 is RMB 1,818,376,000
    JV revenue for six months 2016 is RMB 738,947,000
    Total revenue over the last 18 months ending June 30, 2016 is RMB 2,557.3 million.
    Accounts receivable ending June 30, 2016 is RMB 2,448.8 million.
    So in the last 18 months, this very "profitable" JV has only managed to collect RMB 108.5 million or 4.24% of their revenue.
    In summary, Kandi the Nasdaq listed company is "profitable", but that profit depends on collecting US$123 million owed to them by the JV, as well as another US$40 million owed by subsidiaries of the JV.
    The JV is "profitable", and would like to pay Kandi the $123 million they owe them, but their profit depends on collecting the US$390 million that their subsidiaries owe them.
    The ZZY service company is profitable, but that's only because they haven't paid anyone for the cars or batteries they received, and with the few EV that they do rent out at $3 per hour, they can't afford to pay anymore than 4% of what something costs.
    The real reason for the service company was to defraud the Chinese government of the subsidy money, so with that loophole closed it's hard to see where this scam can go from here.

KNDI
5.490.00(0.00%)Sep 30 4:00 PMEDT