looking forward to a productive discusssion. as others contribute our collective due diligence will grow. i am only making a brief initial response on your 5 points to be analyzed as the week progresses and as time allows . . . some of this has already been addressed by the company itself. . .
1 Q:)Abat is serial issuer of shares. ABAT's response if one assumes reporting is accurate which I do.
from their formal rebuttal. . .
A) During the past three years ABAT has more than tripled its revenues and increased its net income by 350%. To fund that expansion, it has issued equity for cash. 90% of the equity offerings were made at or above the contemporaneous market price. Approximately 10% were made at 95% of the contemporaneous market price. We are proud of our success in accessing the capital markets to fund our growth.
2)q: Mr. Fu has had a lot of shares issued to him and resold to the company. not one word of that. A: Can you show where Mr. Fu resold shares to the company. He seems to be still holding his shares according to what I remember reading. (more later)
3)Origins of the reverse merger and how the deal was done. (not sure how or why this is relevant as it was perfectly legal and was not seen in a negative light when it happened. Yes, there have been reverse merger frauds but being a reverse merger does not necessarily make a company a fraud.) 4)Size of ABAT. The company is a small company and no way could they have produce the amount they claim.
Not sure why you say that. 90,000 scooters and bikes in 2010 on 3 upgraded assembly lines and one with a uncertain status is not unreasonable. That is only 300 per day for 300 days and 75-100 per line/day. 10/hour. They have the labor force to do this easily and I saw them working very efficiently and energetically. + the size is there. the facilities are quite large.
http://hrb.zqpt.com/en/Company/Company_Browse.aspx?id=9 (More later on the battery side, running out of time.)
5) Experience of Mr.FU and Abat management team in making batteries.