I take it you're speaking about the multinational private-board conglomerate Bemos, Marva, & White3k?
Old scamming securities recidivist never give up do they? Here are some facts to reconcile.
1. Kandi said the JV received the money, that is not a subsidy check to Kandi.
2. Geely owns 50% of the JV, is traded on the Honk Kong Exchange, but Geely issued no PR.
3. We have to assume that Warren Buffet's BYD did not receive any subsidy as it was not announced.
4. In fact, Kandi's JV appears to be the only EV manufacture in China to receive the subsidy.
5. $10,000 is much larger than the $5,789 maximum per vehicle announce back in January.
6. In Kandi's 10-K the JV revenue for 2013 was $15 million, but they get $30+ million in subsidies?
Will Kandi come to an end before the World Cup does?
Looks like the SEC were asking the same questions as Sailbad:
In addition, so that we may better understand your business, please supplementally provide us your intended disclosure regarding the dependence of your business or reportable segments upon a single customer, or a few customers, the loss of any one or more of which would have a material adverse effect on your business or reportable segments. Please tell us the name of any customer and its relationship, if any, with you or your subsidiaries if sales to the customer by one or more segments are made in an aggregate amount equal to 10 percent or more of your consolidated revenues and the loss of such customer would have a material adverse effect on you and your subsidiaries taken as a whole. Please note that a group of customers under common control or customers that are affiliates of each other should be regarded as a single customer.
Just a bit of clarification here, this correspondence is NOT related to the investigation being conducted by the Denver office of the SEC that Kandi reported in their 10-K.
All of the just released correspondence is with the New York office of the SEC and simply reiterates many of the questions that individuals like myself and anyone else not drinking the Kandi Kool-Aide have been asking for some time.
We still have to wait to see the letter from the Denver office of the SEC.
Try reading ALL of the correspondence and you can see that the SEC has major concerns, especially with Related Party Transactions that Kandi has been trying to deny as "Related".
It doesn't exactly say ALL CLEAR.
Dear Mr. Hu:
We have completed our review of your filings. We remind you that our comments or
changes to disclosure in response to our comments do not foreclose the Commission from taking
any action with respect to the company or the filings and the company may not assert staff
comments as a defense in any proceeding initiated by the Commission or any person under the
federal securities laws of the United States. We urge all persons who are responsible for the
accuracy and adequacy of the disclosure in the filings to be certain that the filings include the
information the Securities Exchange Act of 1934 and all applicable rules require.
Hangshou mayor also announced that he expects to get telephone service before the end of the year so he can just call the factories instead of having to visit.
Maybe you read the cash flow statement from an imaginary company. The cash flow statement that Kandi filed with the SEC shows a cash loss of $21 million from operations and $26 million income from the sale of shares.
How much did you have to pay your lawyer to convince you that adding more shares to the outstanding is not dilution?
They need the money to purchase their own products, which nobody else seems interested in purchasing. All sales so far have been to related parties, so their only source of cash has been the sale of shares.
The people shorting the stock are the same people purchasing the S-3 shares from the company to cover the short. Ask someone to read the filings with the SEC and explain it to you.
You must be desperate for news when you celebrate dilution of your own stock. The SEC just said that it's OK to issue another million shares.
Three and a half years ago they had a Sales Model selling 20 EV per day. In reality, Kandi only has two products; stock sales and press releases.
JINHUA, CHINA--(Marketwire - December 1, 2010) - Kandi Technologies, Corp.(NASDAQ: KNDI) ("Kandi" or the "Company"), today reported that, on the heels of the grand opening last week of Jinhua City's first "Battery Charging Farm" and "Express Change" battery station, consumer sales of Kandi's pure EVs have now begun. At a launch ceremony for the Company's new energy vehicles held in the People's Square on November 26, well attended by a highly enthusiastic crowd of local citizens, government officials and news media, Kandi reported that with a low base price of RMB 39,500 (US$5,918) excluding batteries and anticipated local subsidies, the Company immediately sold out the first 20 Kandi EVs available.
The Chinese government is not only making Kandi EV free to everyone in Hangzhou, in addition, every household with a free Kandi EV will be entitled to have 5 more kids to fill up that vehicle.