Blog Blasts China BAK Battery (CBAK), Says Worth Less Than "Zero"
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Seeking Alpha contributor Richard Pearson put out a scathing report on China BAK Battery (Nasdaq: CBAK), saying its "worth is in fact negative, far below zero".
The article calls into question the company's cash position relative to its debts. If true the company will soon be facing insolvency.
"If China BAK ends up filing another quarterly report, its insolvency will become quite plain to see on paper and we will see that the cash is effectively all gone, as is the company," wrote Pearson.
The article calls into question the company's cash position relative to its debts. If true the company will soon be facing insolvency.
"If China BAK ends up filing another quarterly report, its insolvency will become quite plain to see on paper and we will see that the cash is effectively all gone, as is the company," wrote Pearson.
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