a great little stock with plans to do small electric cars. they are settling their lawsuits with approval from the Judge.
Recently went from 22 cents to 55 cents before settling in at 33 cents. look for another pop soon.
Book value is $3.00
how are you able to post a url? cool!!! i like the corporate governance reforms. shows ABAT is serious. i am so tired of the naysayers on this message board. glass is always half empty with them and not half full.
however abat does need enact these reforms and improve in many areas. they protected themselves from a lawsuit and they get blamed for defending themselves. it is a cruel world.
Advanced Battery Technologies Responds to Allegations by Variant View Research
NEW YORK, April 6, 2011 (GLOBE NEWSWIRE) -- Advanced Battery Technologies, Inc. (Nasdaq:ABAT), a leading developer, manufacturer and distributor of rechargeable polymer lithium-ion batteries as well as a manufacturer of electric vehicles, responded today to the research report published online on March 30, 2011 by a short seller operating under the pseudonym "Variant View Research."
The publication by Variant View was, by its admission, intended to support the short-selling activities of the actual author of the report. ABAT's management carefully reviewed the report when it was first published and determined that it, like other self-serving short seller "reports," consisted of nothing more than innuendo and distortions of the clear facts published in ABAT's reports to the SEC. Some of the Company's shareholders have, however, requested that ABAT respond directly to the allegations, and so below we respond to each of the 14 allegations set forth in the Variant View report.
Allegation 1: The Chairman appears to have transferred ownership of ABAT's key subsidiary to himself without explanation or compensation.
The Facts: Heilongjiang ZQPT, the referenced subsidiary, has been owned by 16 investors, including Chairman #$%$, since it was organized in 2002. In 2004 the owners of Heilongjiang ZQPT transferred all of the benefits and obligations of ownership of Heilongjiang ZQPT to Harbin ZQPT, a subsidiary of ABAT. Under U.S. GAAP, the transfer of those benefits and obligations meant that the balance sheet and financial results of Heilongjiang ZQPT must be consolidated with those of ABAT as if it were a subsidiary. Thus, for accounting purposes, ABAT reported in its SEC filings from 2004 to 2009 that it "owned" Heilongjiang ZQPT. In 2009 ABAT decided that it would be more appropriate to explain the relationship in detail, which accounts for what Variant View mistakenly refers to what "
I am hoping for a buyout of ABAT once they get Final Orders from court. Shareholders got $!#$%! twice, once by the short sellers and once by ABAT. But there is a promise from the Chairman to make things right.
Hopefully he will make good on that promise.
LBCB uses faulty logic all the time. He starts with his assumption and bias and then find material in the world to support it and then distorts that material. But man is he brilliant in what he does.
yeah, that is true, but what blows your theory is that they make batteries for power tools, children's toys, personal play stations and those get used indoors. too bad your understanding of what this company makes isn't so advanced.
LBCB is right. It is a "motion for final approval", but it most likely will get approved. The Judge has to approve it. This is about the derivative case.
Lbcb, you are insane! an individual expressing an opinion on a yahoo message board is not illegal and you are clearly deranged for thinking so. secondly, short selling is not illegal., however defamation is!!!!
stop your intimidation and go see a therapist!!!
I am making decision to buy based on ABAT's internal audit.
Item 3. Assets
The primary assets of our three operating subsidiaries as of December 31, 2012 are included in the following table:
Cash and cash equivalents $ 7,425,400
Accounts receivable(1) 39,410,900
Property & equipment(3) 87,219,000
Construction in progress(4) 75,850,900
Intangible assets(5) 20,708,500
Total assets(6) $ 328,984,600
everything he accuses others off, he on some level is guilty of himself. this is exactly the mentality of vvr and prescience accusing abat of fraud when they were guilty of fraud. it is as insidious in the world as it is in this micro drama.
can't wait for the trial to begin. . . .
hope the defense subpoenas each of the short sellers and their mommies. ( i am sure some of you get the reference)