Wrong puppy, the model comes with various options with lithium-ion batteries or lead acid. It comes with a seat or without a seat. It comes with the basket or without the basket. Call them and ask them which battery it comes with. These are also selling in India. Some places say 35 kg, some say 38 kg. some say 45 kg. Some say 48 kg. Anyway, these models are selling all over the place and ABAT supplies the batteries and the REPLACEMENT batteries!
You know the catalogue that hundreds of thousands of flyers around the world see every day.
Just google SKU: 28022GRP and ZQDH-3QP. They sell about 30,000 of these a year in various countries.
Plus they sell the batteries to similar models.
ABAT will go back to $2.00. Do not sell.
Fou is preparing the filings!!!!
and only 2 days affter the Judge signed off on the class settlement????
Because they knew their case was week and the auditors woudn't even settle with them for ANY additional money. They didn't want to waste any more money pursuing a bogus case. The defense wanted to let them off the hook but even the plaintiffs said that there were "arguably" good defenses and they may not have succeeded in trial.
Look for filing and updates with the SEC shortly and then followed by final dismissal of bogus derviate case. Stock will go again above $1.00 in two days like it did last month.
Mark this post.
No objectors. 14 opt outs. Everyone was notified. It will go through for $275,000. This will be an enormous burden off the company. Should occur in the next 2 weeks.
ABAT will go back to about 95 cents.
Pomerantz doesn't think so LBCB. They seem to agree more with Twisty. . .
"While Lead Counsel believes, based on their investigation, that Lead Plaintiff’s claims against the ABAT Defendants have merit, they also recognize that they would face substantial hurdles. Defendants have articulated arguably credible defenses that could be accepted by the Court or jury."
The problem with you is that you see the world black and white, while twist, the Judge, ABAT and even Pomerantz see the shades of gray.
Heck if people listened to you, they may have sold all their shares for a loss at 30 cents, while if they listened to Twist, they would have been able to successfully average down and recoup their losses if not profit outright.
Dude, your self-righteousness is a little nauseating to tell you the truth. . .
Only $275,000. Judge indicated she would approve.
ABAT should hit 95 cents this week!!!
Remember Mr. Fououou's letter. This will add some light to the discussion. . .
Did Longtop commit fraud or not? According to the SEC, everything is honky dory.. .
From January 2014 Reuters
Jan 27 (Reuters) - U.S. regulators and Deloitte's Chinese unit have resolved a legal dispute over access to audit work papers related to a fraud investigation into Longtop Financial Technologies, a Chinese company.
The Securities and Exchange Commission and Deloitte Touche Tohmatsu CPA Ltd on Monday filed a joint motion to have the lawsuit, which was more than two years old, dismissed in U.S. District Court for the District of Columbia.
The SEC told the court that Chinese regulators have since turned over many of the documents being sought.
"In light of the substantial volume of documents produced ... the SEC, at present, does not believe that there is a need for judicial relief," the motion said.
The SEC's case against Deloitte is one of two enforcement matters the agency has been pursuing in its quest to obtain the audit documents of Chinese companies listed in U.S. markets.
Very strong close. This stock is heading to $1.20 in the short term. Short squeeze is happening and privatization talks have been ongoing now for 3 years (Fouo's first letter). Do not use stop losses. Set your sites higher!!!
ABAT's book value is $3.00. We are going up. volume is building.
Plug Power, Ballard Power, FuelCell soar after Telsa Europe expansion news • 2:37 PM
The biggest beneficiaries from news of Tesla's expansion in Europe and big move in batteries via its Gigafactory plans are fuel cell makers like Plug Power (PLUG +11.6%), Ballard Power (BLDP +18.6%) and FuelCell Systems (FCEL +20.1%); shares of each are surging past 52-week highs (again).
Fuel cell makers also have been on a tear since PLUG announced last week a deal with six Wal-Mart distribution centers, and investors are betting that PLUG's success will lead to similar performance from its peers.
Also: ZBB +49.9%, ABAT +9.8%, ENS +3.4%, ULBI +2.8%.
Reasons I am Long ABAT
ABAT to $1.00 and back on the Nasdaq!!!!!!
Making electric bikes and electric scooters in an expanding market
Selling lithium-ion batteries in China Russia, Europe and other places for electronics and power tools
About to Settle Legal Issues
2 Huge days and is a momentum play!!!!
ABAT to 80 cents tomorrow. Up, up, up we go!!!!!
The electric bicycle market remains sharply divided between China and everywhere else. While 9 of every 10 e-bicycle sales still occur in China, elsewhere the market has matured over the last couple of years, resulting in expected sales of 2.6 million e-bicycles in 2013. New, well-established manufacturers are entering the market, either as vehicle manufacturers or industry suppliers.
However, the e-bicycle market is in a state of change. Western Europe’s market is growing increasingly crowded with competitors and now accounts for more than 20% of global e-bicycle revenue annually. Meanwhile, North American players are finding new, younger e-bicycle consumers among those who ride for transportation rather than entertainment. Even the massive 28 million unit Chinese market is in a state of change as the government considers changes to the rules governing the market and consumers begin to recognize the value of lithium ion over lead-acid batteries. Navigant Research forecasts that annual sales of e-bicycles will grow from 31 million in 2013 to nearly 38 million in 2020.
Class action is very likely to settle in the next few days with a final order coming from the Judge. As ABAT's last reported book value is $3.50, if there were a buyout possibility once that weight is lifted, such a possibility is much much more likely.
I believe a buyout offer in the $1.50 -$2.50 range is in the works.
I am long ABAT.
that's old news man. . .
they have the ability and the space and the inclination and the MARKET to make them and they have. no huge sales yet, but it is a possibility. they are the basic generic electric cars that some small city in china would enjoy. even a small contract to manufacture 3000 of them in 2014 or 2015 would be a nice addition. they have been manufactured there (not in 2010 or 2011), but more recently. that is all that is being said here.
ABAT has prototypes and some limited sales on electric cars. They are also now selling mobility scooters for the elderly population. This is going to be huge.
ABAT to $1.00
Check Ecobahn 690. Russians had the 690 on sale for 59,000 Rubles about $1650 US dollars.. Guess they ship them up to Harbin for a battery installation and then ship them over to Russia. For people that are on their keyboard day and night (hint hint), they may not be aware that Russia has become a huge importer of electric bikes and scooters and low shipping costs and the new trade agreements between Russia and China have created a ripe market for ABAT's products.
NEW YORK, Dec. 14, 2011 (GLOBE NEWSWIRE) -- Advanced Battery Technologies, Inc. (Pink Sheets:ABAT) ("ABAT"), a leading developer, manufacturer and distributor of rechargeable Polymer Lithium-Ion (PLI) batteries as well as a manufacturer of electric vehicles, today announced the grand opening of its new polymer lithium-ion battery production facility in Dongguan City, Guangdong Province, P. R. of China.
On December 10, 2011, Dongguan Qiang Qiang Amperex Tech. Co. Ltd, a wholly owned subsidiary of ABAT, opened the facility to the public with a grand ceremony. Officials from the central government as well as local Dongguan City government officials and guests witnessed this event.
Mr. Zhiguo #$%$, the chairman of ABAT, addressed the more than 600 guests and expressed a warm welcome and appreciation for the good wishes and congratulations he had received for ABAT's achievements. He stated, "In this facility we will work to maintain the Company's dedication to quality and customer satisfaction, as we continue to expand our position in the competitive market."
The new Dongguan Qiang Qiang facility is the third battery manufacturing facility developed by ABAT in mainland China to meet the increasing demands of the Polymer Lithium-Ion (PLI) battery market. The Company's total investment in this new facility has been approximately $83.30 Million (US). The facility has an aggregate floor space of 50,000 square meters, including an R&D center of 5,000 square meters. The designed production capacity of this factory is 800,000 Ah daily.
The new Dongguan facility will be primarily used to manufacture small capacity batteries. ABAT's small capacity battery products are used in a broad range of electronic devices. ABAT also manufactures medium capacity batteries for use in larger electronic devices and large capacity batteries for use in electric vehicles.
Forget all the bashers. ABAT has already agreed to make necessary changes and they will make a few more and the Settlement will go through and make everyone happy. We will see $1.00 soon.
ABAT has already agreed to the following, now they have iron out a few missing aspects from the Settlement and then go forward. This is normal negotiation and should have a favorable outcome.
A. Advanced Battery and the Individual Defendants shall establish a Financial Reconciliation Committee whose function is to oversee and establish rules to ensure that the Company’s year-end,publicly filed financial statements, whether filed with regulators in the U.S. or China, are consistent with one another to the extent required under applicable accounting rules and regulations and/or identify any material discrepancies among such filings with sufficient information to determine the basis for such discrepancies.
B. Advanced Battery and the Individual Defendants shal lestablish a Related Transactions Committee to oversee and establish rules to ensure that any Company transaction is properly vetted for the purpose of identifying and disclosing any related parties.
C. Advanced Battery and the Individual Defendants shall adopt a policy that requires the Company’s substantive press releases to be reviewed by: (a) the Company’s CEO or the CEO’s designee, and; (b)the Company’s general counsel or outside counsel to the extent any
person holds such position(s). Case 1:11-cv-04383-CM Document 10 Filed 10/16/13 Page 9 of 19
D. All material litigation, SEC or government investigations, government enforcement actions, or threatened government enforcement actions involving the Company, its directors or officers, will be publicly disclosed within seven (7) days.
E. Advanced Battery and the Individual Defendants will set up a toll free voice mail box for anonymous complaints or comments from employees. The Company’s counsel shall monitor the mail box and report monthly, in writing, to the independent directors the substance of the messages and the status of the investigation of such messages.
ABAT has apparently agreed to the above principles and acknowledged th