Advanced Battery (OOTC:ABAT) $1.90 - The GeoTeam took a closer look at the ABAT hit piece published yesterday. While we are not attesting to legitimacy of ABAT operations at this time or all of the reports points, BOB believes that the piece contains errors on the following points:

1. The Chairman appears to have transferred ownership of ABAT’s key subsidiary to himself without explanation or compensation;
2. ABAT leads investors to think that it makes cutting-edge electric cars, when in fact it produces cheap scooters and bicycles.
3. ABAT spent $20 million to acquire a company linked to the Chairman without disclosing the relationship;

More on this later

However,

We are currently waiting on the analysis of numbers contained in SAIC filings, as this will be the driving factor on our investment stance in ABAT shares.