Not another one....
Oh yeah, another one of those Chinese-style roll-up deals, right? Looks like it:
Advanced Battery Technologies (ABAT) is a $250 million market cap company listed on the Nasdaq. The company originally went public through a reverse merger transaction with a shell company called Buy It Cheap.com in 2004. The company claims to have increased its revenues from $11 thousand to $97 million from 2003 to 2010.
Why do we allow these firms to be listed on US exchanges again, and exactly how many US investors have to lose their shirts before we put a stop to this crap?
Disclosure: No position - I don't buy or short firms with incomprehensible accounting and financials, which includes essentially all "reverse-take-out" types of corporate structures. The risk of this happening, on a historical basis, is simply too high.
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
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