Dolat Ventures Inc (OTCMKTS:DOLV) Set To Fly Higher

Dolat Ventures Inc. (OTCMKTS:DOLV), which through its subsidiary, JB&ZJMY, focuses on the business of electrical cars and their support systems, recently issued a new quarterly release. The news came out on August 9, 2017 and was celebrated by the market. The share price was pushed up from $0.04 to almost $0.06. Additionally, more than 15 million shares changed hands. Have a look at the recent share price movement:

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What's new in the new 10-Q? The new document shows the quarterly earnings for the period ended on May 31, 2013. The company seems to be updating the due documents as promised some months ago. This is very positive, as the company is finally working to be in compliance with the OTC Markets' rules.BusinessThe company was founded in Nevada on April 18, 2006. After it merged with JB & ZJMY Co., Ltd. in December 2016, the company entered into the Electronic Vehicle ("EV") industry. As we said in our previous piece, "Dolat Ventures Inc (OTCMKTS:DOLV) Consolidating Before Heading Higher", in our opinion, entering into this industry was a smart move."This target, a Chinese battery manufacturer, owns patents pertaining to long lasting batteries, ideal for use in electric automobiles, and provided DOLV the necessary know how to operate in the sector. The move is fantastic, as the Chinese Government is heavily investing through subsidies to help car makers achieve large scale production of electric vehicles, and has encouraged taxi fleets and government agencies to use electric automobiles. Hence, DOLV is an exciting stock to capitalize on the growth of the EVs in China." SourceWe found more information about the industry and the company in the quarterly earnings released on July 11, 2017. First of all, it was mentioned in the report that, according to Bloomberg, the Chinese EV Market "became the world’s largest in 2015 with 507,000 cars sold, and is expected to reach 2 million vehicles by 2020".What is DOLV offering? The company has developed a small, low-cost, fully automatic, multi-function rechargeable car power plant recharge system. This is from the same document:

"It is a new type of nickel-manganese multi-phase lithium-ion battery: a new material system, a new process, the new battery structure, the energy density per kilogram to 180W, 50% higher than the same specifications lithium iron phosphate battery." Source

Additionally, JB is owner of a prototype SUV electric vehicle that can go up to 600 km (373 miles) on a single charge and is called the “Millet Ming Yang V3”.Recent Developments - The last 10-QWe found on ih.advfn.com a 10-Q, which had been released on August 9, 2017. The market appreciated the new information, as the share price went up on the same day. For that reason, we had a close look at the document. We found that the "Notes to Financial Statements" contained some valuable information. The following relevant events that occurred before 2013 were featured in the report:

• The Agreement and Plan of Acquisition with Dove Diamond and Mining, Inc. According to the document, the company acquired 100% of the issued and outstanding common stock of Dove in exchange for 20,622,000 newly issued shares of its restricted common stock. The closing of the agreement was effective February 15, 2009. In our opinion, this merger is interesting, as it means that the company has gone through other mergers before, thus the management has M&A expertise and will be able to solve issues from the reverse merger with JB&ZJMY.
• The commercial based agreement with Millennium Mining, LLC, was also featured in the document. Thirty million shares of common stock were paid as consideration for the formation of a commercial association between the two entities. The companies stopped the collaboration on March 1, 2017.
• On December 2, 2016, Wang DeQun acquired control of DOLV through the purchase of 300,000 shares of the Company’s Class A Convertible Preferred Stock. He also acquired voting rights equivalent to 750,000,000 common shares.
• On January 11, 2017, Ji Ming Yang Amperex Technology Limited was acquired. For the payment of this entity, 100,000 shares of Class D Preferred Stock convertible were used.
• Finally, on April 4, 2017, Wang DeQun sold a patent to the company. He received 100,000 shares of Class E Preferred Stock, and voting rights equal to 250,000,000 shares of the Company’s common stock.

Wang DeQun brought large amount of assets to the companyThanks to this report, we could see how the balance sheet has changed over the years. The new acquisition was very positive for the financial situation of DOLV.

• Total Amount of Assets as of February 22, 2013: $2
• Total Amount of Assets as of March 31, 2017: $2,686,683
• Patents & Intellectual Property as off March 31, 2017: $1,813,987

In our first article about DOLV, "Dolat Ventures Inc (OTCMKTS:DOLV) Looks To Resume Its Bull Trend", we noted that the acquisition was very interesting, as the EV industry was growing at high pace. This is what we highlighted:

“Acquisition is definitely boosting the investor confidence. Volume remains strong with large blocks of trade. Should head significantly higher from here on” Yahoo Finance User: trust_da_dj (Source)

However, that was not all. In this new piece, we noted a new good factor, the large amount of assets including Patents & Intellectual Property that were given to DOLV. Hence, the market did not only push up the share price astonishingly in the beginning of 2017 because of the industry, but the market also recognized that the merger will add many good assets to the company's balance sheet.ConclusionDOLV released the state of the business in a new quarterly release. It was good news, since it shows that the company is finally providing the due documents, which are necessary to be in compliance with regulations. Please note that the documents were still not released on the OTC Markets Exchange website. We expect the company to file more documents soon. In the current documents, we could read some details regarding the past transactions of the firm, and we could also see the state of the company's balance sheet in 2013. We compared the amount of assets owned before the merger with JB&ZJMY and the amount after it, and concluded that the transaction was very positive. To sum up, try to follow closely the announcements made by DOLV, as the market is pushing up the share price as positive news is being released.Be sure to check out our coverage on DOLV.We will be updating our subscribers as soon as we know more. For the latest updates on DOLV, sign up below!Image courtesy of Nick Piggott via FlickrDisclosure: We have no position in DOLV and have not been compensated for this article.