Dolat Ventures Inc (OTCMKTS:DOLV) is starting to boil down after a reverse merger in late-May lit the share price. The penny stock has been trending down over the last few days, but if you go back twelve weeks the stock was dormant and mostly dead. DOLV is no longer a relevant name for the company because it was acquired by the Chinese businessman DeQun Wang and should soon pick up a new ticker and name soon.
The reason why shares are relevant, although tricky, is because of its entry into the Chinese electric vehicle space. The company is actually creating its own EVs, some of which look pretty decent. The Zhong Ji Ming Yang V3, not sure if this is a prototype name, seems to be the flagship now. The SUV type EV can go 310 miles on a full charge and reach max speeds of 80mph. That’s not an amazing max speed, but the range is good.
Dolat Ventures Inc (OTCMKTS:DOLV) new owner is DeQun Wang, the owner of what’s called the Jin Bo Group, which is a holding group of dozens of companies in this space all operating in the technology space – things like telecoms, EVs, network communications, etc. Jin Bo is a big deal.
China is a key player in this market and has some big ideas for electric vehicles as it looks to limit pollution levels in its crowded cities and meet the conditions of the Paris Agreement. China’s Contemporary Amperex Technology Ltd. or CATL headquarters aims to manufacture more lithium-ion batteries than Tesla’s Gigafactory by 2020 and is expected to be the largest battery factory in the world. Beijing called for companies to double electric vehicle battery volume by 2020 and told them to invest in factories overseas.
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Here is more information on the merger itself from the company.
“The company possesses a number of patents seeking to enhance and extend battery life while also reduce operating costs. The Company seeks to commercialize solutions to the problems faced by all vehicle battery manufactures, such as shortage of battery life, expensive materials, and charging station issues.
As part of the acquisition DOLV will be offering to current and future employees based in the People’s Republic of China the opportunity to purchase new JB&ZJMY common stock units for $0.10 (Ten Cents USD) per share with one warrant attached exercisable for two years at $0.15 (Fifteen Cents USD) for a total of 10,000,000 (Ten Million) units pursuant to a Regulation S offering on a best efforts basis expiring on July 17th 2017.”
DOLV intends to file consolidated financial statements reflecting the acquisition during the next two weeks. We thank our shareholders for their interest in the Company and patience while we bring our filings current.”
The bottom line: Dolat Ventures Inc (OTCMKTS:DOLV) is not exactly a clear play and has seen a downward swing, but the Chinese EV market is legitimate and should be a great market, if analysts and estimates hold. The company currently carries a $37.89M marketcap with 71.79M outstanding shares. This is a company we will be following and looking to see how they take shape post-merger. For continuing coverage on shares of $DOLV stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!