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Arthur Porcari  

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  • Kandi Technologies: A Significant Obstacle Has Been Hurdled [View article]
    They also hold calls on 650 thousand shares and 540,000 shares outright. Also, Group One Trading (which is owned by Susquehanna) is KNDI's DPM (Designated Primary Options Market Maker or Specialist). You would expect them to have significant option positions under any circumstance.
    Feb 24, 2015. 06:33 AM | 3 Likes Like |Link to Comment
  • Kandi Technologies: A Significant Obstacle Has Been Hurdled [View article]
    Bad Sailor- The Company has filed KNDI has filed 7 10K's and 20 10Q's since it started trading in the US. EVERY one of those files had the same statement, "The Company believes that its cash flows generated internally may NOT be sufficient to support the growth of future operations and to repay short-term bank loans for the next twelve (12) months, if needed.."

    However, you will also find this statement in all of those filings which you either didn't see, or didn't care about sharing:

    "The Company has historically financed its operations through short-term commercial bank loans from PRC banks. The term of these loans is typically for one year, and upon the payment of all outstanding principal and interest in a particular loan, the banks have typically rolled over the loan for an additional one-year terms, with adjustments made to the interest rate to reflect prevailing market rates. The Company believes this situation has not changed and that short-term bank loans will be available on normal trade terms if needed."

    pg10 Q3 10Q
    Feb 24, 2015. 06:17 AM | 5 Likes Like |Link to Comment
  • Kandi Technologies: A Significant Obstacle Has Been Hurdled [View article]
    Ezra- There you go again. Obfuscating instead of answering my simple questions. So I will ask again:

    "Without the "cloud" of the SEC investigation to fall back on, no active warrants outstanding until you get to 750,000 at $21.5 and no need for the Company to raise money, what do you see as a "trigger" or "triggers" that will cause the stock to collapse to a point from this level that will allow the short sellers to profit?

    and; Do you think the reduction in volume is a good or bad thing for the 7.3 million share short?

    I think these are important questions if you want any new short sellers to join your cause.
    Feb 22, 2015. 10:26 AM | 5 Likes Like |Link to Comment
  • Kandi Technologies: A Significant Obstacle Has Been Hurdled [View article]
    Rich Dude- You are wrong. The two SEC Divisions do track each other. Clear evidence of this in KNDI's case can be seen when the Corp Fin Division held up KNDI's clearance for its Oct. 2013 S3 seven months until April of 2014, AFTER the Company filed both its 2013 10K and Q1 2014 10Q. Historically and since it has taken less than four weeks for "Effective" notices to issued by the Commission.

    Obviously the Corp Fin side held up allowing more shares to be registered until it was satisfied that there were no significant accounting or filing disclosure irregularities. The two primary areas that Attack Writers went hard after prior to the initiation of the investigation since serious violations found in either are the cause of 99% of Regulatory Stock Halts.

    Re. the more recent spate of attack articles on the Company's disclosures on production and sales and even more recent attempt of "face saving" attacks through the Social Media claiming that the Commission "did not look" at these events is ludicrous. Particularly while an "Investigation" is open, all written public comments by any legitimate company is funneled through its Securities Counsel who you can bet demands solid back-up to claims made before allowing release.

    Before a "No-Action" letter is released, it must be approved from the highest level of the Commission. There is no "feather in the cap" awarded by initiating an investigation with all the costs in time and taxpayer money involved, just to admit no findings of wrong-doing. Since there is really no requirement for the Commission to ever close out an investigation, you can bet somebody at the Commission checked out all claims made by the Company right until the date of the release letter. Even today there are numerous cases open going back to the time of the 2008 Financial crisis.

    Feb 22, 2015. 10:22 AM | 6 Likes Like |Link to Comment
  • Kandi Technologies: A Significant Obstacle Has Been Hurdled [View article]
    Got a question for you Ezra since you seem to have anointed yourself as the Social Media spokesperson for the KNDI Short Sellers.

    Without the "cloud" of the SEC investigation to fall back on, no active warrants outstanding until you get to 750,000 at $21.5 and no need for the Company to raise money, what do you see as a "trigger" or "triggers" that will cause the stock to collapse to a point from this level that will allow the short sellers to profit?

    and; Do you think the reduction in volume is a good or bad thing for the 7.3 million share short?

    I think these are important questions if you want any new short sellers to join your cause.
    Feb 21, 2015. 09:36 AM | 12 Likes Like |Link to Comment
  • Kandi Technologies: A Significant Obstacle Has Been Hurdled [View article]
    OK, Ezra. It is time you took your Securities courses over. Even a First year law student should know that a Company or individual that in a "Non-Public" Formal SEC Investigation (which is what the Company said it was served with), the "Formal Order" as per Rule 7(a) of the Commission's Rules of Investigations is not allowed to be made public. As you should know, the "Formal Order" is what outlines the alleged charges and is what you are asking for.

    Now do yourself a favor and either go back and read the rules yourself, or ask one of your Prof's. You are really not doing either yourself or Harvard a favor going around spouting incorrect information. Makes the school look like they will take any student who can come up with the tuition. (Or is that the case for you?)

    You know, you should have read my comment above to Illuminati and you could have save the time you wasted in this last comment. I clearly blew away with fact, everything you wasted time on with this comment.
    Feb 21, 2015. 09:15 AM | 9 Likes Like |Link to Comment
  • Kandi Technologies: A Significant Obstacle Has Been Hurdled [View article]
    I got to hand it to you Ezra. Your gones are definitely bigger than your brains. If you really are a third year Law student, you cannot be so brain damaged to think that all of your insults against the SEC that you have put in writing are not being sent to the SEC. Can you?

    I am sure you are aware there is an ever-growing "School of thought" that gives you and your ludicrous attack article headline;

    "Kandi Crushed: Mary Jo White's "Broken Windows" Policy Makes An SEC Enforcement Action Inevitable"

    was likely the reason the Company got the No-action letter from the SEC rather then just let this linger on as in most cases.

    So think about it. You have become a hero for KNDI longs. Both your articles woke up the stock and brought a whole new audience for KNDI to "strut its stuff to" and you ended up torpedoing your short selling buddies with a public exoneration.

    I know it is probably too much to ask, but do you think you could put something else out before the numbers are reported? We need as big an audience as possible to get the best impact out of the great quarter and year about to be reported.
    Feb 20, 2015. 05:39 PM | 12 Likes Like |Link to Comment
  • Kandi Technologies: A Significant Obstacle Has Been Hurdled [View article]
    Bad sailor- read my comment to illuminati above.
    Feb 20, 2015. 05:24 PM | 6 Likes Like |Link to Comment
  • Kandi Technologies: A Significant Obstacle Has Been Hurdled [View article]
    Illuminati- Declare Victory? There is nothing to declare victory over. The SEC came, they looked, they investigated, they spent a lot of taxpayer money, the Company spent a lot of shareholder money, and in spite of this, the SEC, (as expected by KNDI CEO or I doubt he would have felt so confident to announce the investigation last March even though there was no requirement to do so-- the SEC found nothing wrong). The only "Victory" is for the shareholders is that they now don't have to be concerned about whether their Company is being run honestly with this SEC back up confirmation. Shareholders now only need concentrate on the growth of this fantastic company and its incredible business.

    In other words: Thanks to the shorts and their attack writers forgetting about the old adage "Be careful of what you wish for, you might get it", they have now "hoisted themselves on their own petard"

    But, you are totally wrong if you think the investigation had only to do with some outside stock manipulation. KNDI was not a named "Party" in that "Kelly" action.

    I think if you try hard enough you will find that the Fact Finding investigation against KNDI was a totally different action focusing on reporting, both financial and PR's permeated by a barrage of bogus allegations sent to the SEC by half a dozen attack writers and short sellers.

    The fact that the Kelly "stock promotion" action is still not resolved by at least two of the defendants, and the KNDI action is should easily tell you their were two different actions.

    http://1.usa.gov/1t5zgtS

    http://1.usa.gov/1DBRVHr

    (BTW, KNDI CEO told all shareholders in attendance at the November meeting in San Francisco that the alleged share give-a-way to Tazbaz and Lockhart never happened. I guess the Commission figured that out as well or they would either added KNDI to the Kelly action, or not ended the separate action. )

    As much as Carey at ShareSleuth would like to make you believe, to quote him on Twitter that this is not over or some sort of travesty of justice against short sellers:

    Chris Carey @sharesleuth · Feb 19
    "Without knowing more about the nature and focus of the SEC's investigation into $KNDI, it's impossible to say what the outcome means."

    and

    Chris Carey @sharesleuth · Feb 17
    "We can only assume the SEC's probe into $KNDI focused on a limited set of issues surrounding its reverse merger, and not more recent events."

    and

    Chris Carey @sharesleuth · Feb 17
    "$KNDI says SEC has ended current investigation and does not intend to bring enforcement action. Utterly incomprehensible."

    He did his job so well supplying bogus info that he likely forced the SEC to investigate everything but the "tires" (and I suppose the Commission kicked those too) on each of KNDI's EV's.

    For anyone to think the SEC would spend a few million dollars to open up a separate action from the Kelly stock promotion to cover the same issue or some other issue exclusive of thorough coverage of reporting would be ridiculous.

    Also, it is obvious that you have never been part of an SEC action (I have, but you probably know that since a half dozen attack writers have felt I was important enough to attack me personally by name and my 1988 run in with the SEC in their articles when they ran out of thing to make up against the company). As long as a company, or Individual is given a "No Action Letter", they are not allowed to disclose what was covered in the "Formal Order". If you don't believe me, ask any Securities Attorney.

    A message to the shorts; "Wish in one hand, cover with other, see which makes you more money?"
    Feb 20, 2015. 05:10 PM | 9 Likes Like |Link to Comment
  • Kandi Technologies: A Significant Obstacle Has Been Hurdled [View article]
    Kumquat- Don't read anything into yesterday's trading. As an old Market maker who worked closely with short sellers in the distant past, it is imperative for a short to go "scorched earth" if necessary to kill momentum.

    According to shortvolume.com Gross shorting on Tuesday was 42% and 37% yesterday. (above 30% usually indicates net shorting for the day). Pair that with hot money traders that got trapped on Tuesday exiting yesterday and you got a 1/3 correction on Tuesday's move.

    One thing for sure. No sane long term KNDI holder that was hanging on last week before the SEC announcement, when the average volume dropped to under 450,000 shares, (next NASDAQ short report should show an incredible hedge fund eye-catching 15 days to cover) is going to sell now before exceptionally strong Q4 and YE numbers are released in a few weeks. So either the stock goes higher or the short gets bigger.

    Both intermediate and long term Wins for KNDI holders.
    Feb 19, 2015. 09:19 AM | 14 Likes Like |Link to Comment
  • Kandi Technologies: A Significant Obstacle Has Been Hurdled [View article]
    Institutional ownership jumped 15% to 3,165,284 at year end 2014 in spite of the SEC investigation. And led by the likes of JP Morgan Chase, Morgan Stanley, Goldman Sachs etc.

    http://bit.ly/1ohN0yj

    Considering the Company does not do Conference Calls or issue guidance, YET, I would say the very strong Q4 and full year numbers coming out in the next few weeks should cause a marked increase in both Institutional holdings and share price.
    Feb 19, 2015. 09:07 AM | 11 Likes Like |Link to Comment
  • A "Non-Event" Jan. 30th That Could Quickly Spell Bad News For Kandi Technologies Short Sellers. [View instapost]
    Rich Dude- If you read my article, you would realize I was talking about their 1st 2010 convertible financing as being "Toxic". Not the following Units offerings. Those were all done at attractive prices considering the state of the Company at that time.

    If you read the last 10Q closely you would have noticed that while showing a 46 million negative cash flow from operations, they also made a $50 million prepayment for equipment in their new Wanning facility in Haiku. Without that charge they would have been cash flow positive.

    Quite a noteworthy task since they went from 0 cars made and sold in January of last year to over 11000 the following eight months. And #1 in pure ev's in China.

    Don't believe everything you hear. Take a few minutes to do your own DD so you don't look so bias in your comments. And it might also help you to remain a Rich Dude.

    http://1.usa.gov/1yfmflb
    Feb 9, 2015. 10:01 AM | 1 Like Like |Link to Comment
  • A "Non-Event" Jan. 30th That Could Quickly Spell Bad News For Kandi Technologies Short Sellers. [View instapost]
    Since all of your questions here have been asked and answered by either me or others multiple times and since you can't seem to accept anyone's answer, and since I do have a life other than babysitting your rants, I am going to answer your questions one last time. But you might not like the answers I give.

    I am also going to cut off any further comments from you to include a response to this comment. You refuse to accept rational answers and since you have not come up with one additional new point forces me to respect my readers to be intelligent enough to discern your motives and I I refuse to insult them further by letting you and your childish rants go on ad infinitum.

    If you don't like the answers, get with your short selling constituents and write another article.

    My final answers

    1. I could care less how the lease is structured. It makes no difference to KNDI or the 50% ownership of Geely KNDI JV company that I am invested in, not ZZY. KNDI only sell parts and are paid when they sell the parts and if there is a profit, the JV gets half.

    2. It is described as a "Group Lease" because some cohesive group such as an enterprise or Home Owners Association commits to be responsible for the lease payments.

    3. I don't care "how many cars are on the road" or "in a Garage" or "on a parking lot" in Hangzhou. I only care that KNDI sold the parts to the Geely KNDI JV and both were paid according to normal business practices. Re. the JV, it does not report the cars as delivered (sold) until the new owner paid for them and has taken over the "registration" of the cars and put them in their name.

    4. Answered above.

    5. I don't know or care how ZZY is paying for the cars just as long as they pay for them. It is their money and they can come up with it any way they desire. Besides, I doubt they would share that info with me anyway.

    6. I never said the E-Kingo was the Chendu lease operator and neither did the Company. In fact it makes little sense for a Auto-dealer to be its own lease operator when they can contract it out to people like ZZY who knows that part of the business best. IMO, if I were E-Kingo,, a Company that has been in the top ten auto dealers in China for the past 9 years, I would want to be the local sponsor of this deal even if I had to do it for free. It is great publicity for their their auto business and it gets them lots of "brownie points" from both the National and Local Government

    7. KNDI has made it quite clear that their CarShare program included both long lease options and hourly rental. If it was my Company, I might split the two up into two different types of programs, but then I am not Chinese and don't do business in China. It is YOUR OPINION that KNDI is misrepresenting, not mine nor the Company.

    Again Serra- No more comments on this board. A third of the comment, all the same on this board is enough. Since you have not come up with anything but irrelevant accusations that are nothing more than a figment of your imagination which even if true, has nothing to do with the fact that Geely KNDI JV has been proclaimed by both private and Government sources as #1 in EV's in China and after almost 8 years of following the Company and knowing the CEO, I know this is just the beginning.

    FYI, If you want to see your past posts remain on this board, respect my request to move on. Don't test me on this. You know I have no problem removing your comments since this is MY BLOG and you are a guest here.
    Feb 4, 2015. 01:00 PM | 8 Likes Like |Link to Comment
  • A "Non-Event" Jan. 30th That Could Quickly Spell Bad News For Kandi Technologies Short Sellers. [View instapost]
    Serrco- Since you asked; Yes I can "explain to everyone" about my discussion with Kewa Luo about you and "your" supposed self written articles.

    We discussed several things.

    Aside from what I already said about the disbelief that both Company SEC counsel and I have about "your" two articles written and researched by the same person, we went on to discuss:

    She mentioned how pleased she and Mr. Hu were that investors could see through and reject your desperate attempt to confuse with ignorant accusations against the JV and Mr. Hu while totally ignoring that fact that Geely and its CEO Li Shufu is a 50% partner. This confirmed by the strong stock performance after each each article.

    I agreed and reminded her what the real goal of "attack articles" were and that is to try to create selling from less knowledgeable investors or bring in new hot money short sellers so the author and friends could use the drop to try to cover their shorts.

    I reminded her that the reason we have seen such a recent pick-up in these articles is based on all of the now obvious Government support of KNDI. Short sellers now realize that they miscalculated how an obscure "go-cart" manufacturer could so quickly jump to its public uncontested #1 position in China EVs and enamor the highest level of Government Officials in CHINA to not only support KNDI's business models, but also endorse it to local Governments along with all its 1.3 billion people. For you to try to convince intelligent investors that Hu and Shufu are running a scam against their own National Government, a Government that has been know to execute fraudulent CEO's is farcical to say the least.

    I further told her that no matter what these attack writers try to say in their articles, they made an early speculative bet against the company and they now know full well that were wrong. Of all Countries, YOU DON't BET AGAINST THE WILL AND SUPPORT OF THE PRC GOVERNMENT.

    I told her there is an old adage in the market; "You make a stock look weaker if you want to Buy and stronger if you want to sell". Something Jim Cramer revealed in a TV interview titled;

    "Jim Cramer reveals dirty tricks short sellers use to manipulate stock prices down"
    http://bit.ly/1nMb9U1


    We also discussed how surprising it was that a third year law student could find the time to spend 20 hours a day monitoring, contributing and insistently commenting with the same debunked unfounded allegations on any Social Media Venue accessible and still manage to maintain you studies.

    I told her since your ranting has become so humorous that as long as you were not being disrespectful, I was leaving your comments up on this blog to show investors how silly you have become. But I also reminded her that "desperate people take desperate measures" when they are trapped.

    I also told her that for your sake, I hoped, if you managed to make it into legal practice that you not choose any business related specialty because all of your articles and rants will remain on the Internet forever. Any big ticket prospective client will easily find what you have been recently wasting your time on 20 hours a day and the very poor arguments you have made trying to defend your position. This will particularly be exacerbated in a few years when KNDI will be a Wall Street darling with $10+ billion market cap company.

    Judgement is EVERYTHING in the selection process for a lawyer and at least with KNDI shareholders, already you have been "weighed measured and found lacking"


    BTW, I am not a lawyer, but even I know that a good lawyer NEVER asks a "witness" an open ended question in public unless he knows what that witness is going to say. If what I am saying here offends you, you have only yourself to blame for asking me:

    "Please, Arthur, can you explain to everyone the context of the conversation between you and Kandi IR, Kewa Luo?"
    Feb 4, 2015. 08:19 AM | 7 Likes Like |Link to Comment
  • A "Non-Event" Jan. 30th That Could Quickly Spell Bad News For Kandi Technologies Short Sellers. [View instapost]
    toonies- actually since this is my blog, it is up to my decision as to when to cut off or remove comments. Hard to believe we are approaching 100 on a "blog" and that is AFTER I took off a dozen or so of Serra's earliest.

    If you noticed above, I told him I was going to keep chopping off his comments until he answered my question as to whether he felt Li Shufu of Geely was equally complicit in the proposed fraud he was insinuating. Once he responded "probably", I figured that anyone with a lick of sense would consider any further comments by him as ludicrous.

    But since I have better things to do with my time than regurgitate the same valid response to his rants, I am about to cut off further comments.
    Feb 3, 2015. 03:33 PM | 4 Likes Like |Link to Comment
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