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Monday, April 19, 2021

Technical Insights on Advanced Battery Technologies, Inc. (OTCMKTS:ABAT)

Advanced Battery Technologies, Inc. (OTCMKTS:ABAT) continues to consolidate well and hold its gains after the recent highs of $0.76 were tested. ABAT has been upward bound in recent months since it started slowly moving off its $0.30 base back in October. ABAT has a history of big moves running from $0.40 to $1.10 earlier this year.

ABAT has been around for years and was trading on the NASDAQ stock exchange until November 30, 2011 when the stock was delisted to the OTCBB. Investors love to trade ex NASDAQ while they are on the bb’s for their ability to make parabolic runs.

Advanced Battery Technologies, Inc. (OTCMKTS:ABAT) specializes in the development of rechargeable polymer lithium-ion (PLI) batteries and Light electric vehicles (LEV’s). ABAT has their executive office in Beijing, China and they have three manufacturing subsidiaries in Harbin, Wuxi and Dongguan, China.

ABAT has been putting out some really explosive press in November after months of silence; on November 3 they said they plan to become fully reporting. To this end they retained Paritz & Company, P.A. as its independent auditor to audit the Company’s financial statements for the years ended December 31, 2011, 2012, 2013 and 2014.

Obviously this is huge news and probably the most pressing issue for ABAT as the stock is currently trading under the dreaded skull & crossbones designation from OTCMarkets.com; something sure to scare away any prospective shareholders considering the stock.

2 days later ABAT announced the launch of a superior fast charging nano lithium titanate battery. ABAT and Long Power Systems (Suzhou) Co., Ltd co-developed the new battery technology. The fast charging lithium titanate battery is the first of its kind in the China market. It offers a wide range of usage, excellent performance and superior safety profile.

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Then on November 11 ABAT announced that its wholly owned subsidiary Wuxi Angel has signed two new multi-year distribution contracts to market and sell its newly launched pure lithium battery powered electrical vehicles. Wuxi Angel designed and developed three series of new products: eco-friendly cleaning vehicles, senior scooters and leisure vehicles. These vehicles, all powered by the Company’s new fast charging pure lithium batteries, have zero emission to the environment.

CEO of ABAT Mr. Zhiguo Fu said ”We have signed two agreements with regional distributors to help us market and sell these eco-friendly electric vehicles. These distributors, strategically selected by ABAT, will sell a combined minimum of 13,000 vehicles (in three categories of eco-friendly cleaning vehicles, senior scooters and leisure vehicles) in three years with estimated revenue of more than 150 million RMB. ($25 million us) ABAT is committed to the clean energy industry and will continue to bring new products to the market.”

On November 20, ABAT announced the company and Mr. Zhiguo Fu, Chairman and CEO plan to buy back up to 5 million ABAT common shares over the next 12 months. The common stock to be repurchased would represent 6.6% of the total shares outstanding, which will be purchased from time to time in the open market or in privately negotiated transactions. The planned share buyback requires board approval.

Conclusion: ABAT is upward bound as more positive news continues to flow from the Company. Investors are buying ABAT too and sentiment on this one seems to be highly positive. ABAT is an ex NASDAQ stock and we all know how these can move once on the bb’s.

According to recent press the Company is working hard behind the scenes and has hired an auditor to get their books up to date and become fully reporting once again; this would represent a significant step forward for the Company and do a lot to bring investor confidence and credibility to this story.

There is plenty to get excited about here; ABAT just launched a new product and is estimating revenues of 150 million RMB ($25 million US) over the next 3 years. Another big positive is the recently announced share buy-back program.

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Currently trading at a $35 million market valuation ABAT is on fire and quickly building a loyal shareholder base that swears this one goes way higher. As the great news continues and this story grows ABAT is one penny stock to watch and deserves to be at the top of investors radars.

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Disclosure: we hold no position in ABAT either long or short and we have not been compensated for this article.

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