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Arthur Porcari  

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  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    Ezra, You said:

    "That is an absurdly unnecessary number of degrees. It doesn't make any sense why someone would begin an UNDERGRADUATE degree program AFTER having completed both an undergraduate degree and MBA."

    That is a stupid statement: I can have an undergraduate degree with one major from one University and then add another degree from a second, but I certainly don't have to take over all my courses in the second University. This is done all the time. In fact, My Daughter did it. She got her first degree at Univ. of Houston, then went back to school eight years later and got her second undergraduate degree from Univ. of Colorado. She did not have to take all the pre-requisite course over again.

    This whole round of educational attack obfuscation is beyond ludicrous and only shows how desperate and low dishonest investors will stoop to scam out innocent investors, now that all of their arguments against the Company have been blown away.
    Mar 27, 2015. 09:24 AM | 3 Likes Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    Sure you can. You can do it like he did by replacing it with a Masters of Law. You obviously don't have a clue about what is involved regarding DD and vetting of a prospective Officer of a NASDAQ Company.

    The "prospect" is sent what is called a Directors & Officers Questionnaire which asks just about any imaginable question short of what color underwear he prefers. This completed and signed document then goes to Company Counsel who will usually retain an outside investigator to verify all the info is accurate. This is not the "old days" anymore. The SEC and NASDAQ take it seriously that a reporting officer is who and what he claims to be.

    Can it be circumvented? Sure it can, just like any Officer or Employee can create a scam, at least for a while, but seriously, what upside do you see for any Company to hire the second most important position in a listed public company without checking every "i" is dotted and "t" crossed?
    Mar 27, 2015. 09:10 AM | 2 Likes Like |Link to Comment
  • Kandi Technologies hires investor relations firm [View news story]
    Not that I needed any confirmation, but I did share the ludicrous accusation that Bad Sailor has been spreading about the education background of KNDI's new CFO, with the Company. The response was exactly as I described above.

    "Wang got his First Undergraduate degree in Finance. Then got his MBA, then went for a second undergraduate degree in Law at Shanghai JiaoTong followed by his Masters in Law at Renmin."

    No wonder Mr. Hu liked him for the CFO position. Very impressive for a 41 year old.
    Mar 26, 2015. 01:12 PM | 1 Like Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    Not that I needed any confirmation, but I did share the ludicrous accusation that Bad Sailor has been spreading about the education background of KNDI's new CFO, with the Company. The response was exactly as I described above.

    "Wang got his First Undergraduate degree in Finance. Then got his MBA, then went for a second undergraduate degree in Law at Shanghai JiaoTong followed by his Masters in Law at Renmin."

    No wonder Mr. Hu liked him. Very impressive for a 41 year old.
    Mar 26, 2015. 01:08 PM | 3 Likes Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    SB-Since you repeated about Wangs Education again, let me repeat why your attempt at distortion is ill founded. (I posted this on his first attack above, so if you read it there, no need to read it again)

    There you go again, shooting yourself with your own "smoking gun", but I will give you some credit for somewhat masterfully creating another errant distortion.

    While I did bring up your post above to KNDI IR, late yesterday, I have not heard back yet, but I will be willing to bet I already know the answer. Lets see if you agree.

    There doesn't seem to be any problem with "tracking" his MBA from Hong Kong Open, so lets look at his law degree.

    Personally, I don't know what a "Bachelor of Law Degree" is unless it is a Bachelor of Arts-Law degree, at least in US schools. (good chance China might do it differently). But sticking to the US way, I assume Wang just put generically a "Bachelor's degree" on his early bios which he may have had for years, but after he attained his Bachelors of Law Degree, he decided to legitimately add "Law" to the Bachelor's degree.

    It would be like me putting out a bio that says "I have a Bachelors Degree from the University of Southern Mississippi. And leave it like that, which would be correct. Or I could expand by saying;

    "I have a Bachelor's Degree (Major) in Psychology from the University of Southern Mississippi", Which would be true, or I could also say:

    "I have a Bachelor's Degree (Major) in Geography from the University of Southern Mississippi" Which would also be true."

    In Wang's case, since it seems he was working during this time, he is probably an "intellectual" who was taking Correspondence "courses". So likely he got his basic Bachelor's degree from Wuhan who knows how many years before. After this took enough correspondence courses from Shanghai JiaoTong to add a Law Major, ergo Bachelors of Law, he changed his bio to reflect. He then added an LL.M Degree (Masters of Law). Which, BTW, if he was in the US, could have a Master of Laws (LL.M.) degree from Harvard in just one year. So I see no reason he couldn't get it in China just as fast.

    Until you are actually awarded the next degree, you still should only be reporting the prior degree. It would have made no difference if he reported a Bachelors of Law on a report and a Masters of Law on a subsequent report just one week later, if he received the Masters during the week between.

    From the Harvard Law website regarding Masters of Law Degree LL.M

    "The LL.M. (Master of Laws) program is a one-year degree program that typically includes 180 students from more than 70 countries. The Graduate Program is interested in attracting intellectually curious and thoughtful candidates from a variety of legal systems and backgrounds and with various career plans. Harvard's LL.M. students include lawyers working in firms, government officials, law professors, judges, diplomats, human rights activists, doctoral students, business men and women, and others. The diversity of the participants in the LL.M. program contributes significantly to the educational experience of all students at the School"

    http://bit.ly/1E3U2En
    Mar 26, 2015. 08:40 AM | 2 Likes Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    There you go again, shooting yourself with your own "smoking gun", but I will give you some credit for somewhat masterfully creating another errant distortion. Notice even Serrco hasn't jumped on your band wagon for as a Law student himself, he knows Wang's educational "track" is not that out of the ordinary.

    Let me give you the bullet.

    There doesn't seem to be any problem with "tracking" his MBA from Hong Kong Open, so lets look at his law degree.

    Personally, I don't know what a "Bachelor of Law Degree" is unless it is a Bachelor of Arts-Law degree, at least in US schools. (good chance China might do it differently). But sticking to the US way, I assume Wang just put generically a "Bachelor's degree" on his early bios which he may have had for years, but after he attained his Bachelors of Law Degree, he decided to legitimately add "Law" to the Bachelor's degree.

    It would be like me putting out a bio that says "I have a Bachelors Degree from the University of Southern Mississippi. And leave it like that, which would be correct. Or I could expand by saying;

    "I have a Bachelor's Degree (Major) in Psychology from the University of Southern Mississippi", Which would be true, or I could also say:

    "I have a Bachelor's Degree (Major) in Geography from the University of Southern Mississippi" Which would also be true."

    In Wang's case, since it seems, as you agree, he was working during this time, and he is probably an "intellectual" who was taking Correspondence "courses". So likely he got his basic Bachelor's degree from Wuhan who knows how many years before. After this took enough correspondence courses from Shanghai JiaoTong to add a Law Major, ergo Bachelors of Law, he changed his bio to reflect. He then added an LL.M Degree (Masters of Law). Which, (BTW, if he was in the US, could have a Master of Laws (LL.M.) degree from Harvard in just one year. So I see no reason he couldn't get it in China just as fast.)

    Until you are actually awarded the next degree, you still should only be reporting the prior degree. It would have made no difference if he reported a Bachelors of Law on a report and a Masters of Law on a subsequent report just one week later, if he received the Masters during the week between.

    From the Harvard Law website regarding Masters of Law Degree LL.M

    "The LL.M. (Master of Laws) program is a one-year degree program that typically includes 180 students from more than 70 countries. The Graduate Program is interested in attracting intellectually curious and thoughtful candidates from a variety of legal systems and backgrounds and with various career plans. Harvard's LL.M. students include lawyers working in firms, government officials, law professors, judges, diplomats, human rights activists, doctoral students, business men and women, and others. The diversity of the participants in the LL.M. program contributes significantly to the educational experience of all students at the School"

    http://bit.ly/1E3U2En
    Mar 26, 2015. 08:34 AM | 3 Likes Like |Link to Comment
  • Kandi Technologies hires investor relations firm [View news story]
    There you go again, shooting yourself with your own "smoking gun", but I will give you some credit for somewhat masterfully creating annother errant distortion.

    While I did bring up your post above to KNDI IR, late yesterday, I have not heard back yet, but I will be willing to bet I already know the answer. Lets see if you agree.

    There doesn't seem to be any problem with "tracking" his MBA from Hong Kong Open, so lets look at his law degree.

    Personally, I don't know what a "Bachelor of Law Degree" is unless it is a Bachelor of Arts-Law degree, at least in US schools. (good chance China might do it differently). But sticking to the US way, I assume Wang just put generically a "Bachelor's degree" on his early bios which he may have had for years, but after he attained his Bachelors of Law Degree, he decided to legitimately add "Law" to the Bachelor's degree.

    It would be like me putting out a bio that says "I have a Bachelors Degree from the University of Southern Mississippi. And leave it like that, which would be correct. Or I could expand by saying;

    "I have a Bachelor's Degree (Major) in Psychology from the University of Southern Mississippi", Which would be true, or I could also say:

    "I have a Bachelor's Degree (Major) in Geography from the University of Southern Mississippi" Which would also be true."

    In Wang's case, since it seems he was working during this time, he is probably an "intellectual" who was taking Correspondence "courses". So likely he got his basic Bachelor's degree from Wuhan who knows how many years before. After this took enough correspondence courses from Shanghai JiaoTong to add a Law Major, ergo Bachelors of Law, he changed his bio to reflect. He then added an LL.M Degree (Masters of Law). Which, BTW, if he was in the US, could have a Master of Laws (LL.M.) degree from Harvard in just one year. So I see no reason he couldn't get it in China just as fast.

    Until you are actually awarded the next degree, you still should only be reporting the prior degree. It would have made no difference if he reported a Bachelors of Law on a report and a Masters of Law on a subsequent report just one week later, if he received the Masters during the week between.

    From the Harvard Law website regarding Masters of Law Degree LL.M

    "The LL.M. (Master of Laws) program is a one-year degree program that typically includes 180 students from more than 70 countries. The Graduate Program is interested in attracting intellectually curious and thoughtful candidates from a variety of legal systems and backgrounds and with various career plans. Harvard's LL.M. students include lawyers working in firms, government officials, law professors, judges, diplomats, human rights activists, doctoral students, business men and women, and others. The diversity of the participants in the LL.M. program contributes significantly to the educational experience of all students at the School"

    http://bit.ly/1E3U2En


    Mar 26, 2015. 08:27 AM | Likes Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    The full article came back on-line Tuesday evening around 7pm ET.
    Mar 25, 2015. 06:21 AM | 1 Like Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    amp- There was an almost equally large Put open interest as well in that series. The reason that expiration had such a massive open interest is that March expiration was a "leap" expiration that was formed almost a year and a half ago when the stock was trading in the single digits.

    From my perspective watching the trading last week, it appeared to me that there was a lot of short covering, but we won't know that for two weeks when the next short interest comes out reflecting that time frame. My guess is that the SI will drop to around the 6 million share level at that time.

    It has been my feeling that the hard core short is around that 6 million level. What I mean by hard core is a small group of deep pocket shorts working together hold about that many shares short. The rest have been smaller independents that have been piggybacking the big shorts. Sort of the "low hanging fruit". Most of those, due to relatively small short positions will have found a way out during this low volume period. But the bigger shorts have don't have the luxury to try to cover while the volume is low. If they do, they risk starting their own short squeeze. But just like there is "no honor among thieves", at a point, there is also no honor amount short sellers. As soon as one of the main "group" gets caught "peeing in the pool", you could see a mad rush by other of the group not wanting to be the last short bagholder.

    A short (pardon the pun) story; A couple of years ago when I last visited the Company, I was contacted by one of the most notorious China stock short sellers and attack writers. When it became public that I was going to visit the Company with a few investors, he contacted me and asked if I would allow him to have two of his China based analysts join my group.

    I asked him what his motivation was since I had not heard his name mentioned around KNDI before. He gave me a "story" that in earlier years he was bullish on China Companies and actually helped a number come public in the US. But only became a short-seller a few years later when a number of the Companies were trading at stupid high prices. He also told me that he was "persona non grata" in the PRC (would get arrested if he tried to enter the country) but he really did love China and would like to one day get back. So his thought was maybe by doing a positive story on KNDI, it might help his anti-China stock reputation in the PRC. Since I knew he had put out a blog a few months before "warning against "blanket" short-selling of China stocks now that most of the bad had been weeded out", I was willing to keep the dialog open.

    So, I agreed to speak with his "analysts", one a Chinese National, the other a US expat, both CFA's. With their assurance that their goal was not to attack KNDI, but to possibly do something positive with the stock, after a half hour, they convinced me that they would be objective, so I invited them to join us.

    They did join us for two days and you can actually see them in shots on Aaron Rockets viral Youtube documentary on KNDI; The Kandi Machine. As we parted after the second day, they both told me how impressed they were with both the Company and Mr. Hu, but it was up to their benefactor as to whether he wanted them to write up the Company.

    When I got back, I spoke with the "short seller" who reiterated to me how impressed his analysts were. I asked him if he was going to have them write up KNDI. He told me that was his goal, but first he needed to take a significant long position in the stock. I asked him how soon did he think it would be. He responded by telling me that most of his liquid capital was currently tied up in two major short positions that he was confident would soon be "halted" due to the reams of info he and his short friends had sent to the SEC (sound familiar?). Both stocks at the time were trading in the mid to upper $2 level and he told me his short basis was in the $5 to $6 level. But he expected shortly after the two stocks were halted, he would be quite liquid to initiate a large position.

    I suggested to him that maybe he cover a few hundred thousand shares and use that liquidity to buy some KNDI in the $6 level where it was trading. His response was; (and this is what ties into your question) I wouldn't mind doing that, but he felt that a few of his "kindred spirited" short "friends" would not be happy if they caught him "breaking ranks" so he felt he should wait.

    Long story short. two and three months later, first one, then the other stock was halted. So I called him back and congratulated him. While he was happy with the halt, he also was concerned since not long before they were halted, the short borrowing rate had escalated to above 40%. Since the stocks were not trading, he and his friends were locked into having to pay that borrowing rate until the stock started trading again in the pink sheet market. Something that he thought would only take a month or two. As it turned out, both took over six months before they started trading. This means that in spite of being correct, he and his cohorts lost over 20% of the value of their short position by having to pay cash for the "borrow" that whole time.

    When the two stocks finally started trading again, KNDI stock had skyrocketed to over $20 or more than tripled from the $6 price that he wanted to pay. Due to subsequent SEC investigations against short sellers who were also attack writers that I was and still am aware of, I have not "reached back out to him", but I did see him make a few "cryptic" "tweets" chiding some irritated short sellers right after KNDI was cleared by the SEC, so I know he is still at least looking at KNDI.
    Mar 25, 2015. 05:18 AM | 4 Likes Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    RD- Get serious. ZZY is 81% owned and controlled by a private companyr. If you were they, would you want someone else publicly reporting your business details if it was not required? Of course not.
    Mar 25, 2015. 04:11 AM | 3 Likes Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    II- Shame on you for trying to mislead investors by taking "out of context" a single line from the KNDI 10K. You said; "...explicitly states in the 10K "All land in the PRC is owned by the government and cannot be sold or transferred by or to any individual or private entity." Did you really think no one would look up what was actually reported?

    Below is the whole section referring to this from the 10K which starts with your above sentence, but read on:

    Page 24 from the 10K

    "All land in the PRC is owned by the government and cannot be sold or transferred by or to any individual or private entity. Instead, the government grants or allocates landholders a “land use right.” There are four methods to acquire land use rights:

    grant of the right to use land;
    assignment of the right to use land;
    lease of the right to use land; and
    allocated land use rights.

    In comparison with Western common law concepts, granted land use rights are similar to life estates and allocated land use rights are in some ways similar to leaseholds.

    Granted land use rights are provided by the government in exchange for a grant fee and carry the rights to pledge, mortgage, lease, and transfer during the term of the grant. Land is granted for a fixed term, which is generally 70 years for residential use, 50 years for industrial use, and 40 years for commercial or other use. The term is renewable in theory. Granted land must be used for the specific purpose for which it was granted."

    http://1.usa.gov/1CsiJdD

    Do your realize how dumb your comment is? Of course all the land both public and private is owned by the PRC under long term "land use rights", but just like many of the buildings in major cities like NY, the underlying land is on long term leases, but that doesn't mean the property and buildings cannot be sold form hundreds of millions, even a billion or more dollars.

    The reason KNDI only shows $15 million on their books is because the only property they own is the Jinhua Facility which was bought in 2002 as a shut down plant from Wanxiang for around $12 million and the Yongkang Scrou facility for around $10 million in 2012 with around $3 million of the 10 tacked to the Property and Plant. In 2010 when I first visited the Company in China I asked Mr. Hu what he felt the plant and property value of the Jinhua facility would have appreciated to at that time. He told me around $80 million. Add the Younkang Scrou property and a bit more appreciation over the past five years and you get over $100 million.

    The other properties are on the books of the JV
    Mar 25, 2015. 04:05 AM | 4 Likes Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    dE- they both show up on all the Global top ten EV lists together.

    The ten year projection of where either company will be is simple your opinion based on absolutely no knowledge about KNDI and its business.

    My article gives no opinion as to where either Company might be in ten years, only where both are today with their reported numbers along with the ridiculous disparity in market valuation
    Mar 25, 2015. 03:34 AM | 2 Likes Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    PV- You bring up very good points that should give KNDI shareholders some extra comfort. KNDI and Geely working together with banks have been able to develop a new concept that has been praised by all levels of Government and vault the JV to the #1 pure EV position in China and #4 Worldwide; leaping from no revenues in 2013 to $215 million a year later and profitable and did it with minimum dilution and not yet even tapping the long term debt or mortgage market.

    This is EXACTLY why investors should feel much comfort that their KNDi investment should grow dramatically.

    (BTW, I am sure you also noted that KNDI's Chairman Hu, has since start of trading in 2007 up to and including this latest report, been a personal guarantor of most of KNDI's bank debt. Not because he has to, but to quote him from several years ago, "because we get a lower interest rate if I guarantee debt". Aside from KNDI's value Hu has and has had a personal net worth well into the nine digits)
    Mar 25, 2015. 03:25 AM | 2 Likes Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    MC- But since you brought the subject up about analysts, me and the SEC, lets talk more about these subjects.

    MC- Yes, I do find it very interesting that no analyst to date has researched KNDI. That is EXACTLY why I like it right now. However, if they had coverage and the stock was still trading at this level, it is not likely I would own any.

    My niche in investing is to research the hell out of interesting companies with great potential that no-one has yet uncovered. Once Wall Street is in love with a stock, I lose my advantage and move on. That is not to say that those stocks cannot go much higher. Just to say I lose my interest in issues that everyone loves. For example TSLA. While I never did own the stock (mainly because it had a dozen analyst on day one), I sure would not initiate a position in it today.

    Re. Your comment about my past personal dealing with the SEC, I am glad you brought this up. It should give comfort and confirmation to anyone reading my article that I know what I am talking about in this article regarding short sellers AND the SEC.

    But as you also well know as I have responded to your same SEC comment against me a half dozen times. Yes, I did have my own personal run-in with the SEC 25 years ago where some disgruntled short sellers complained that I cost them millions of dollars by supposidly orchestrating a "short squeeze". As I told the SEC back then, "I didn't tell the short to get trapped, it was their own obstinate greed that did it"

    After arguing with them for five years and wasting $50,000 in my own legal fees and I am sure several hundred thousand taxpayer money on the other side, I made them an offer they did not refuse. Here is the Charge and resolution SEC PR:

    "..the commission accepted Porcari's Offer of Settlement in
    which he consented, without admitting or denying the commission's
    findings, to the entry of a cease and desist order against further
    violations of these statutory provisions. The commission further
    ordered that, for a period of three years from the date of the
    institution of these proceedings, Porcari provide a copy of the order
    to certain parties including, for example, any public company which has
    retained Porcari to engage in financial public relations activities.

    Among other things, the Commission found that in or about September
    1989, Porcari was retained by The Cedar Group, Inc. to engage in
    financial public relations activities. The Commission further found
    that, in connection with his efforts to bring about a short squeeze in
    Cedar's securities, Porcari made predictions, without a reasonable
    basis, to registered representatives that Cedar's stock price would rise
    to specified levels within specified periods of time. Also, the
    Commission found that Porcari advised groups of registered
    representatives to purchase specified amounts of Cedar's securities
    simultaneously in order to raise the market price of those securities.
    (Rels. 33-7064; 34-34171)"


    Notice, there was no fine, no industry bar, only an agreement that if I was hired by some company for a three year period I would have to let them know about the SEC settlement. The only reason I even agreed to the three year notification portion was because at that time, I was totally un-involved in the stock market due to being a co-developer/investor in an early private internet software company.

    If anyone cares, here is a link to the SEC website which show the specific SEC PR confirming my statement.

    http://1.usa.gov/14hOKWx
    Mar 25, 2015. 03:06 AM | 1 Like Like |Link to Comment
  • Kandi Delivers A Sweet Year But Stock Goes 'Sour', Tesla Shocks On Downside, But That's 'OK'? [View article]
    MC- If you would have read this article, you would have found the answer to your question
    Mar 25, 2015. 02:25 AM | 1 Like Like |Link to Comment
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