Small Cap News Movers for 11/12/09

Kandi Technologies, Corp. (NASDAQ: KNDI) announced today that pursuant to the previously announced letter of intent it signed in July with China Post in Jinhua City, it has completed the sale of 30 modified, electric COCO hardtops to the Postal Service there. These are the Company’s first sales of its all-electric COCO super mini car in China. The Company said the COCOs sold to Jinhua City China Post were modified to meet the particular needs and specifications of the Postal Service. The stock closed at $4.14, up 22.49%, on 952,222 traded shares.

Cyanotech Corporation (NASDAQ: CYAN) today announced financial results for the second quarter and first six months of fiscal 2010, ended September 30, 2009. Revenues for the second quarter of fiscal 2010 increased 20% to $3,925,000, compared to revenues of $3,274,000 for the second quarter of fiscal 2009. Net income increased 267% to $599,000, or $0.11 per diluted share, compared to $163,000, or $0.03 per diluted share for the second quarter of fiscal 2009. The stock closed at $2.74, up 20.18%, on 56,586 traded shares.

Hong Kong Highpower Technology, Inc. (NYSE AMEX: HPJ) today announced financial results for the third quarter ended September 30, 2009. Net sales for the third quarter ended September 30, 2009 increased 2.8% to $21.1 million, compared to $20.5 million for the third quarter ended September 30, 2008. Net income for the third quarter of 2009 was $2.4 million, or $0.18 per diluted share, versus third quarter 2008 net income of $289,400, or $0.02 per diluted share. The stock closed at $4.38, up 36.45%, on 2,280,266 traded shares.

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