01/31/2013 We published equity research on AVG Technologies (NYSE: AVG) during market hours today, establishing it at Strong Sell with 30-40% downside from current levels. AVG is an $800mm company and producer of AVG antivirus programs. According to our research, Google, AVG’s primary search partner and currently the source of substantially all of AVG’s Platform-derived revenue, is on the verge of announcing an update to its toolbar policy, something that has not been widely followed or discussed by market participants. Furthermore, few, if any, analysts on the street appear to be aware of the upcoming changes; if they are, they have decided not to publish or update their models accordingly. We believe that current consensus revenue and profit projections for AVG are severely inflated.
We also believe that displacing forces will decimate both of AVG’s revenue streams over the longer term. Read our complete report by clicking HERE.
9/20/2012 Prescience Investment Group has published a 30-page analysis on $150mm public company United States Antimony Corp (AMEX: UAMY), a US based producer of the commodity antimony. We believe the company is potentially operating in violation of federal securities disclosure requirements and AMEX-exchange listing rules. We believe shares have been pumped and have substantial downside.. Read by clicking HERE.
7/27/2012 The Globe and Mail reports on the research Prescience Investment Group published pertaining to Student Transportation, Inc. Read by clicking HERE.
7/27/2012 Prescience Investment Group has published a 30-page analysis on $700mm public company Student Transportation, which operates school buses for school systems on an outsourced basis. We believe the company has a flawed business model and financial strategy. Our full report can be downloaded HERE.
An article summarizing our research has been published on SeekingAlpha.com and can be read by clicking on the following link: Student Transportation: Dividend Cut Could Mean 70% Drop In Stock Price
7/15/2012 Prescience Investment Group has established the following social media pages:
- Follow Prescience Investment Group on Twitter
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7/2/2012 Prescience Investment Group founder Eiad Asbahi will be interviewed on the Jim Engster Show this morning, which airs from 9 to 10am on NPR affiliate WRKF 89.3FM. He will be discussing global business prospects and his outlook for the investing environment and financial landscape.
6/25/2012 Prescience Investment Group published a 30 page research paper on public company Planet Payment, Inc. (PLPM), a provider of international payment processing and multi-currency processing services. Prescience believes Planet Payment’s stock price of $4.30/share significantly undervalues the company. Prescience also believes that the company’s near-term IPO will be a catalyst to unlock value from current trading levels. Download our 30 page analysis here: Planet Payment, Inc.
A summary of our report has been published on our blog and on SeekingAlpha.com and can be read at the following link: Planet Payment: Near-Term Re-IPO Likely A Catalyst For A Higher Stock Price.
4/3/2012 Prescience Investment Group founder Eiad Asbahi will be interviewed on the Jim Engster Show this morning, which airs from 9 to 10am on NPR affiliate WRKF 89.3FM. He will be discussing global business prospects and his outlook for the investing environment and financial landscape.
1/17/2011 ”Killing It On The Bayou”: Investment Advisor Lance Paddock evaluates Prescience’ investment acumen and our results to date, explaining his firm’s early-on decision to invest a portion of its client assets with us. Essentially, stepping outside the box – avoiding crowd-driven behavior - can lead to risk reduction and better results. Lance goes on to relate our Fund Manager Eiad Asbahi’s approach to that of the Warren Buffett of old. Read by clicking here.
12/16/2o11 Prescience Investment Group has published a follow-up to its analysis of Yongye International, Inc. (YONG), a China-based manufacturer of plant and animal nutrients. In the research update Prescience presents further evidence of Yongye playing fast and loose with the facts as it seeks to present a bullish case to investors and evade auditor scrutiny. Specifically, we believe Yongye is overstating its raw material costs by at least 50x in an effort to manage the margins it reports on an inflated top line. We also urge the NASDAQ, the SEC, and KPMG to closely examine the evidence put forth in the public domain in their efforts to protect public shareholders and defend the integrity of our financial markets. The report was published on SeekingAlpha.com and can be read by clicking the following link: Yongye International: Further Evidence Calls For Regulator Scrutiny
12/2/2o11 Prescience Investment Group has published an analysis of Yongye International, Inc. (YONG), a China-based manufacturer of plant and animal nutrients. In the report, Prescience presents a number of reasons why investors in Yongye International should be especially cautious. Specifically, our analysis reveals evidence that its sales activities are riddled with undisclosed related party transactions and that its revenue and profit may be overstated in its filings with the SEC. We also urge the NASDAQ and the SEC to look into Yongye’s largest sources of revenue in an effort to protect public shareholders and defend the integrity of US financial markets. Our full report can be downloaded here: Yongye International, Inc.
An article summarizing our research has been published on SeekingAlpha.com and can be read by clicking here: Yongye International’s Unraveling Shroud Of Opacity. In addition, Benzinga’s brief summary can be read by clicking HERE.
11/15/2011 Our founder and Managing Partner Eiad Asbahi has been named by Baton Rouge Business Report as one of the top Forty Under 40 outstanding professionals for 2011. The Business Report seeks to honor men and women who are making a difference by selecting Forty Under 40 for their professional success, leadership, and contributions to the community. Read his profile by following this link.
11/21/2011 The NASDAQ is delisting from its stock exchange shares of Advanced Battery Technologies, Inc. (ABAT), corroborating our investigative work into the company: Prescience Investment Group published a 30-page analysis in May 2011 warning investors that ABAT is fabricating the financial statements it files with the Securities and Exchange Commission.
The NASDAQ has taken drastic action against ABAT because the company failed to provide cash confirmations from the banks holding its funds prepared in the presence of personnel employed by ABAT’s independent auditor. (i.e. The company could not verify the cash balances it claims in the financial statements it files with the Securities and Exchange Commission.)
According to NASDAQ, “ The NASDAQ Stock Market LLC has determined to exercise its discretionary authority under Listing Rule 5101 to delist the Company’s common stock based upon public interest concerns raised by the Company’s deliberate refusal to provide the requested bank confirmations.” The company’s full press release can be read here: ABAT Receives Delisting Notification from NASDAQ
11/15/2011 The NASDAQ has halted trading in the shares of Advanced Battery Technologies, Inc. (ABAT), corroborating Prescience Investment Group’s findings. Trading will remain halted until ABAT has fully satisfied NASDAQ’s request for additional information: NASDAQ Statement On Advanced Battery Technologies
11/09/2011 Prescience Investment Group has investigated further A-Power Energy Generation Systems (APWR), a China-based provider of distributed power generation systems and micro power grids. Prescience has uncovered additional evidence supporting its thesis that the company is hoodwinking investors and making little effort toward restoring investor trust. Download our full analysis here: A-Power Energy Systems, Ltd.
Our report was also published on SeekingAlpha.com and can be read by clicking on the following link: Clouds Thicken Over A-Power Energy Generation Systems
11/01/2011 The Baton Rouge Business Report profiles our firm and Managing Partner Eiad Asbahi, discussing the depth of our research and the critical role we are playing toward the preservation of trust in public financial markets: Financial Watchdog
10/28/2011 Prescience Investment Group has published an analysis of public company China Gerui Advanced Materials Group, Ltd (CHOP), a China-based manufacturer of cold-rolled strip steel products. Prescience urges caution from investors, regulators, and the company’s auditor. We believe that the company’s revenue and profit may be overstated in its filings with the Securities and Exchange Commission. Download our full analysis at the following link: China Gerui Advanced Materials Group, Ltd.
Our report was also published on SeekingAlpha.com and can be read by clicking on the following link: Red Flags Pertaining to China Gerui
09/07/2011 Industry publication Emerging Manager Monthly (see page 12) profiles our firm and Managing Partner Eiad Asbahi, elaborating on the drivers behind our top decile investment performance
09/06/2011 On the Pragmatic Capital Blog, Investment Advisor Lance Paddock compares the investment style of our Managing Partner Eiad Asbahi to that of the Warren Buffett of old.
08/18/2011 A-Power Energy Generation Systems has announced it is now being investigated by the Securities and Exchange Commission for potentially violating federal securities laws, a validation of our research findings originally published on June 17, 2011
08/05/2011 ABC affiliate WBRZ-TV News co-anchor Michael Marsh interviews Prescience Investment Group CEO Eiad Asbahi regarding the financial impacts of the unprecedented downgrade of the United States’ credit rating.
08/03/2011 Prescience’ CEO Eiad Asbahi has published a research piece that brings to light several causes for concern related to public company Cogo Group, Inc (NASDAQ: COGO), a China-based provider of digital media modules and distributor of electronic component parts. Specifically, a thorough analysis of the company’s accounts and filings reveal numerous red flags, ones consistent in nature to those exhibited by other troubled Chinese RTOs we’ve assessed in the past. Our analysis is published on SeekingAlpha.com at the following link: Shorting China’s Cogo Group: Nonfunctional B2B Website Raises Serious Red Flags
07/29/2011 ABC affiliate WBRZ-TV News reporter Ashley Rodrigue interviews Prescience Investment Group CEO Eiad Asbahi regarding the importance of extensive investment research
07/05/2011 A-Power Energy Generation Systems’ CFO steps down
06/27/2011 The auditor of A-Power Energy Generation Systems has refused to sign off on the company’s books and has resigned. The NASDAQ has halted all trading in the stock.
06/20/2011 The Wall Street Journal reports that A-Power Energy Generation Systems intends to respond to the questions raised by Eiad Asbahi in his research piece, as published on SeekingAlpha.com.
06/17/2011 Prescience Investment Group has published a research report that brings to light several causes for concern related to public company A-Power Generation Systems, Inc. (APWR), a China-based provider of distributed power generation systems and micro power grids. Specifically, we believe that the company’s revenue and profit may be overstated in its SEC filings. Furthermore, we identified a large number of related parties that have not been properly disclosed by the company. Download our full analysis here: A-Power Energy Systems, Ltd.
Our report was also published on SeekingAlpha.com and can be read by clicking on the following link: Evaluating the Clouds Overshadowing A-Power Energy Generation Systems.
05/26/2011 Doing our best in policing financial markets, exposing one fraudulent company at a time: ABC affiliate WBRZ-TV News interviews Prescience Investment Group CEO Eiad Asbahi regarding Prescience’ research expose on Advanced Battery Technologies, Inc.
05/25/2011 Prescience Investment Group and our founder Eiad Asbahi profiled in DIG Magazine: He’s Got Prescience
05/05/2011 Prescience Investment Group and Kerrisdale Capital Management published a 30 page analysis of public company Advanced Battery Technologies, Inc. (NASDAQ: ABAT), a China-based manufacturer of rechargeable polymer lithium-ion (PLI) batteries and electric scooters. The report brings to light several red flags that indicate the company may be fabricating the financial statements it files with the Securities and Exchange Commission. We believe that the company’s revenue and profit are highly overstated in its SEC filings. Our full analysis can be downloaded at the following link: Advanced Battery Technologies, Inc.
A summary of our report has been published on SeekingAlpha.com and can be read by clicking on the following link: Advanced Battery Technologies: Questioning the Validity of Company Claims and SEC Filings.
We have also produced a video summary of our findings, along with discussions with certain customers, available at the following links:
- ABAT Analysis Video 1 of 2
- ABAT Analysis Video 2 of 2
- ABAT Customer Interview 1
- ABAT Customer Interview 2 (Video 1 of 2)
- ABAT Customer Interview 2 (Video 2 of 2)
04/02/2011 Prescience has established a Youtube Channel to facilitate communication with our investors and share research with the investment community: Prescience Investment Group Youtube Channel
03/14/2011 Eiad Asbahi, CFA to lecture before the Financial Planners Association at Juban’s Restaurant in Baton Rouge, LA
Our CEO & Managing Partner Eiad Asbahi referenced in Global Finance Magazine’s Cover story:
09/14/2010 Credit Where it’s Due (Web)
Our CEO & Managing Partner Eiad Asbahi featured in the Baton Rouge Business Report:
11/02/2009 The Paper Trail (Web)
A series of articles have been written by The Globe and Mail referencing Managing Partner Eiad Asbahi and his analysis of distressed trucking company Swift Transportation. The articles are authored by an investigative journalist digging into the finances of Jerry Moyes, owner of hockey team the Pheonix Coyotes, and coincidentally, founder and CEO of Swift Transportation.
12/06/2008 Coyotes Face Potential Disaster
01/09/2009 The Bleeding Continues in the Desert
08/06/2009 Prescience Investment Group Unveils Maiden Hedge Fund
