2013 Q2 Form 10-Q Financial Statement
#000114420413045501 Filed on August 14, 2013
Income Statement
Concept | 2013 Q2 | 2012 Q4 | 2012 Q2 |
---|---|---|---|
Revenue | $1.475M | $3.020M | $3.303M |
YoY Change | -55.33% | -37.47% | -32.41% |
Cost Of Revenue | $1.044M | $2.410M | $2.793M |
YoY Change | -62.6% | -21.75% | -25.8% |
Gross Profit | $430.9K | $610.0K | $509.8K |
YoY Change | -15.46% | -65.14% | -54.59% |
Gross Profit Margin | 29.21% | 20.2% | 15.43% |
Selling, General & Admin | $257.4K | $520.0K | $280.2K |
YoY Change | -8.11% | 44.44% | -36.84% |
% of Gross Profit | 59.74% | 85.25% | 54.96% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $195.1K | $260.0K | $195.9K |
YoY Change | -0.41% | 73.33% | 50.86% |
% of Gross Profit | 45.28% | 42.62% | 38.44% |
Operating Expenses | $257.4K | $520.0K | $280.2K |
YoY Change | -8.11% | 44.44% | -36.84% |
Operating Profit | $173.5K | $90.00K | $229.6K |
YoY Change | -24.44% | -93.53% | -66.18% |
Interest Expense | $116.0K | -$40.00K | $183.4K |
YoY Change | -36.76% | -50.0% | 121.96% |
% of Operating Profit | 66.85% | -44.44% | 79.89% |
Other Income/Expense, Net | -$107.5K | -$177.0K | |
YoY Change | -39.3% | 115.75% | |
Pretax Income | $66.02K | $60.00K | $52.56K |
YoY Change | 25.6% | -95.42% | -91.19% |
Income Tax | $14.00K | -$10.00K | $33.71K |
% Of Pretax Income | 21.21% | -16.67% | 64.13% |
Net Earnings | $52.02K | $70.00K | $18.85K |
YoY Change | 175.89% | -94.07% | -96.22% |
Net Earnings / Revenue | 3.53% | 2.32% | 0.57% |
Basic Earnings Per Share | $0.01 | $0.00 | |
Diluted Earnings Per Share | $0.01 | $12.84K | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 5.494M shares | 5.327M shares | |
Diluted Shares Outstanding | 5.459M shares | 5.455M shares |
Balance Sheet
Concept | 2013 Q2 | 2012 Q4 | 2012 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $930.0K | $3.070M | $2.820M |
YoY Change | -67.02% | 32.33% | 605.0% |
Cash & Equivalents | $934.5K | $3.071M | $2.820M |
Short-Term Investments | |||
Other Short-Term Assets | $3.460M | $1.870M | $2.340M |
YoY Change | 47.86% | -39.68% | 277.42% |
Inventory | $2.643M | $1.206M | $876.8K |
Prepaid Expenses | $106.3K | ||
Receivables | $6.942M | $6.657M | $10.21M |
Other Receivables | $0.00 | $5.071K | $910.0K |
Total Short-Term Assets | $14.82M | $13.69M | $17.14M |
YoY Change | -13.54% | -21.11% | -10.43% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $10.29M | $10.59M | $10.94M |
YoY Change | -5.96% | -5.78% | -26.1% |
Goodwill | |||
YoY Change | |||
Intangibles | $3.102M | ||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $30.11M | $29.14M | $26.75M |
YoY Change | 12.55% | 10.12% | 49.01% |
TOTAL ASSETS | |||
Total Short-Term Assets | $14.82M | $13.69M | $17.14M |
Total Long-Term Assets | $30.11M | $29.14M | $26.75M |
Total Assets | $44.94M | $42.83M | $43.90M |
YoY Change | 2.36% | -2.25% | 18.34% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.050M | $1.380M | $2.410M |
YoY Change | -14.94% | -48.51% | 2.55% |
Accrued Expenses | $350.0K | ||
YoY Change | -22.22% | ||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $8.338M | $6.016M | $5.803M |
YoY Change | 43.68% | -17.55% | 26.44% |
Long-Term Debt Due | $0.00 | $960.0K | |
YoY Change | -100.0% | -17.24% | |
Total Short-Term Liabilities | $13.37M | $13.02M | $14.19M |
YoY Change | -5.82% | -2.41% | 51.31% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $13.37M | $13.02M | $14.19M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $13.37M | $13.02M | $14.19M |
YoY Change | -5.82% | -8.96% | 51.31% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | |||
YoY Change | |||
Common Stock | $9.480M | $8.469M | $8.449M |
YoY Change | 12.21% | 0.23% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $31.57M | $29.81M | $29.71M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $44.94M | $42.83M | $43.90M |
YoY Change | 2.36% | -2.25% | 18.36% |
Cashflow Statement
Concept | 2013 Q2 | 2012 Q4 | 2012 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $52.02K | $70.00K | $18.85K |
YoY Change | 175.89% | -94.07% | -96.22% |
Depreciation, Depletion And Amortization | $195.1K | $260.0K | $195.9K |
YoY Change | -0.41% | 73.33% | 50.86% |
Cash From Operating Activities | $710.0K | $3.340M | -$1.050M |
YoY Change | -167.62% | 600.0% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$720.0K | -$2.750M | -$460.0K |
YoY Change | 56.52% | 623.68% | -80.67% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | |
YoY Change | |||
Cash From Investing Activities | -$730.0K | -$2.750M | -$460.0K |
YoY Change | 58.7% | 623.68% | -80.67% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -400.0K | -320.0K | 0.000 |
YoY Change | -112.8% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | 710.0K | 3.340M | -1.050M |
Cash From Investing Activities | -730.0K | -2.750M | -460.0K |
Cash From Financing Activities | -400.0K | -320.0K | 0.000 |
Net Change In Cash | -420.0K | 270.0K | -1.510M |
YoY Change | -72.19% | -87.26% | -43.66% |
FREE CASH FLOW | |||
Cash From Operating Activities | $710.0K | $3.340M | -$1.050M |
Capital Expenditures | -$720.0K | -$2.750M | -$460.0K |
Free Cash Flow | $1.430M | $6.090M | -$590.0K |
YoY Change | -342.37% | 1502.63% | -126.46% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
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217232 | USD | |
CY2013Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
66018 | USD |
CY2012Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
52562 | USD |
CY2013Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
14001 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
33107 | USD | |
CY2013Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
52017 | USD |
CY2012Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
18854 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
61782 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
18965 | USD | |
CY2013Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
501369 | USD |
CY2012Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
26062 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
744455 | USD | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
187983 | USD | |
CY2013Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.01 | |
CY2012Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.00 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.01 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.00 | ||
CY2013Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.01 | |
CY2012Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.00 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.01 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.00 | ||
CY2013Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5459147 | shares |
CY2012Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5326501 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5419353 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5326501 | shares | |
CY2013Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5459147 | shares |
CY2012Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5454501 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5419353 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5454501 | shares | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
413720 | USD | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
382036 | USD | |
us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
16629 | USD | |
us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
0 | USD | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
94889 | USD | |
us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
93006 | USD | |
us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
-293772 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
772635 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
32681 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-81837 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-49234 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
119066 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
3723565 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1476334 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1133 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
270 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
156914 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | USD | |
us-gaap |
Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
|
940927 | USD | |
us-gaap |
Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
|
473640 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-785146 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-473910 | USD | |
us-gaap |
Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
|
-1920633 | USD | |
us-gaap |
Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
|
525492 | USD | |
us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
0 | USD | |
us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
34432 | USD | |
nfec |
Adjustments To Additional Paid In Capital Interest Expense Related Party
AdjustmentsToAdditionalPaidInCapitalInterestExpenseRelatedParty
|
16629 | USD | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
46252 | USD | |
us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
28211 | USD | |
us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
0 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1398971 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
292381 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-360446 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-264078 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
4407729 | USD | |
us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
5681873 | USD | |
us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
2157932 | USD | |
us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
7278239 | USD | |
us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
4742708 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-5117527 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-512813 | USD | |
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
42282 | USD | |
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
12475 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-2136826 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
502086 | USD | |
CY2011Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2317456 | USD |
CY2012Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2819542 | USD |
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
411 | USD | |
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
127603 | USD | |
us-gaap |
Interest Paid
InterestPaid
|
191228 | USD | |
us-gaap |
Interest Paid
InterestPaid
|
297020 | USD | |
us-gaap |
Notes Issued1
NotesIssued1
|
3777245 | USD | |
us-gaap |
Notes Issued1
NotesIssued1
|
1055411 | USD | |
us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
994836 | USD | |
us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
0 | USD | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
0 | USD | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
1580903 | USD | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
1600528 | USD | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
0 | USD | |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<table border="0" style="clear:both;width:100%; table-layout:fixed;"> <tr> <td></td> </tr> </table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt"> <table style="clear:both;MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 0.9in"> <div><b>NOTE <font style="FONT-FAMILY: Times New Roman, Times, Serif">-</font> 1</b></div> </td> <td style="TEXT-ALIGN: justify"> <div><b>BASIS OF PRESENTATION</b></div> </td> </tr> </table> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In the opinion of management, the consolidated balance sheet as of December 31, 2012 which has been derived from audited financial statements and these unaudited condensed consolidated financial statements reflect all normal and recurring adjustments considered necessary to state fairly the results for the periods presented. The results for the period ended June 30, 2013 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2013 or for any future period.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2012.</div> </div> | ||
us-gaap |
Nature Of Operations
NatureOfOperations
|
<table border="0" style="clear:both;width:100%; table-layout:fixed;"> <tr> <td></td> </tr> </table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt"> <table style="clear:both;MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 0.9in"> <div><strong>NOTE <font style="FONT-FAMILY: Times New Roman, Times, Serif">-</font> 2</strong></div> </td> <td style="TEXT-ALIGN: justify"> <div><strong>ORGANIZATION AND BUSINESS BACKGROUND</strong></div> </td> </tr> </table> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; TEXT-INDENT: -57.25pt; MARGIN: 0pt 0px 0pt 57.25pt; FONT: 10pt Times New Roman, Times, Serif"> <strong> </strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> NF Energy Saving Corporation (the “Company” or “NFEC”) was incorporated in the State of Delaware in the name of Galli Process, Inc. on October 31, 2000. On February 7, 2002, the Company changed its name to “Global Broadcast Group, Inc.” On November 12, 2004, the Company changed its name to “Diagnostic Corporation of America.” On March 15, 2007, the Company changed its name to “NF Energy Saving Corporation of America.” On August 24, 2009, the Company further changed its name to “NF Energy Saving Corporation.”</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company, through its subsidiaries, mainly engages in the production of heavy industrial components and products such as valves and the provision of technical service and re-engineering projects in the energy saving related industry in the People’s Republic of China (the “PRC”). All the customers are located in the PRC.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <u>Description of subsidiaries</u></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt"> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="clear:both;BORDER-BOTTOM: #9eb6ce 0px solid; BORDER-LEFT: #9eb6ce 0px solid; MARGIN: 0in; WIDTH: 100%; BORDER-COLLAPSE: collapse; OVERFLOW: visible; BORDER-TOP: #9eb6ce 0px solid; BORDER-RIGHT: #9eb6ce 0px solid" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="23%"> <div>Name</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="20%"> <div>Place of incorporation<br/> and kind of<br/> legal entity</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="26%"> <div>Principal activities<br/> and place of operation</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="15%" colspan="2"> <div>Particulars of<br/> issued/<br/> registered share<br/> capital</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>Effective<br/> interest<br/> held</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="23%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="20%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="26%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="5%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="23%"> <div>Liaoning Nengfa Weiye Energy Technology Co. Ltd (“Nengfa Energy”)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="20%"> <div>The PRC, a limited liability company</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="26%"> <div>Production of a variety of industrial valve components which are widely used in water supply and sewage system, coal and gas fields, power generation stations, petroleum and chemical industries in the PRC</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="10%"> <div>US$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="5%"> <div>3,580,880</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="10%"> <div>100</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div>%</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="23%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="20%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="26%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="5%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="23%"> <div>Liaoning Nengfa Weiye Tei Fa Sales Co., Ltd. (“Sales Company”)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="20%"> <div>The PRC, a limited liability company</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="26%"> <div>Sales and marketing of valves components and products in the PRC</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="10%"> <div>RMB</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="5%"> <div>5,000,000</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="10%"> <div>99</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ccffcc; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="1%"> <div>%</div> </td> </tr> </table> </div> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> NFEC and its subsidiaries are hereinafter referred to as (the “Company”).</div> </div> | ||
CY2012Q4 | us-gaap |
Customer Deposits Current
CustomerDepositsCurrent
|
316732 | USD |
CY2012Q4 | nfec |
Value Added Taxes Payable Current
ValueAddedTaxesPayableCurrent
|
117360 | USD |
CY2012Q4 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
200000 | USD |
CY2012Q4 | nfec |
Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
|
193177 | USD |
CY2012Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
76295 | USD |
nfec |
Income Before Income Taxes
IncomeBeforeIncomeTaxes
|
120384 | USD | |
nfec |
Income Before Income Taxes
IncomeBeforeIncomeTaxes
|
107482 | USD | |
us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
26871 | USD | |
us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
19381 | USD | |
us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
0 | USD | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<table border="0" style="clear:both;width:100%; table-layout:fixed;"> <tr> <td></td> </tr> </table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; FONT-SIZE: 10pt"> <table style="clear:both;MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0px"></td> <td style="WIDTH: 27pt"> <div><font style="FONT-FAMILY: Symbol">⋅</font></div> </td> <td style="TEXT-ALIGN: justify"> <div>Use of estimates</div> </td> </tr> </table> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In preparing these condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates.</div> </div> | ||
CY2012Q2 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.0653 | pure |
us-gaap |
Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
|
10400000 | CNY | |
CY2013Q2 | us-gaap |
Depreciation
Depreciation
|
195130 | USD |
CY2012Q2 | us-gaap |
Depreciation
Depreciation
|
195941 | USD |
us-gaap |
Depreciation
Depreciation
|
380693 | USD | |
us-gaap |
Depreciation
Depreciation
|
349414 | USD | |
nfec |
Value Added Tax Rate
ValueAddedTaxRate
|
0.17 | pure | |
CY2013Q2 | nfec |
Percentage Of Income Tax Examination Minimum Likelihood Of Tax Benefits Being Realized Upon Settlement
PercentageOfIncomeTaxExaminationMinimumLikelihoodOfTaxBenefitsBeingRealizedUponSettlement
|
0.5 | pure |
CY2013Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
66691 | USD |
CY2013Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
66691 | USD |
CY2013Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
66691 | USD |
CY2013Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
66691 | USD |
CY2013Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
66691 | USD |
CY2013Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
2767687 | USD |
CY2013Q2 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
6.1882 | pure |
CY2012Q2 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
6.3197 | pure |
nfec |
Weighted Average Exchange Rate
WeightedAverageExchangeRate
|
6.2479 | pure | |
nfec |
Weighted Average Exchange Rate
WeightedAverageExchangeRate
|
6.3255 | pure | |
CY2013Q2 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
1068442 | USD |
CY2012Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
576988 | USD |
CY2013Q2 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
1574512 | USD |
CY2012Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
628572 | USD |
CY2008 | nfec |
Estimated Construction Cost
EstimatedConstructionCost
|
24000000 | USD |
CY2013Q2 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.06 | pure |
nfec |
Percentage For Maintaing Cash Deposit With Banks
PercentageForMaintaingCashDepositWithBanks
|
0.5 | pure | |
CY2012Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
7.93 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
|
0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
|
0 | ||
CY2013Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
7.93 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | ||
CY2013Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
211743 | USD |
CY2013Q2 | nfec |
Expenditures For Long Lived Assets
ExpendituresForLongLivedAssets
|
723100 | USD |
nfec |
Expenditures For Long Lived Assets
ExpendituresForLongLivedAssets
|
942060 | USD | |
CY2013Q2 | us-gaap |
Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
|
1500000 | USD |
CY2012Q4 | us-gaap |
Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
|
3079139 | USD |
CY2013Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
221047 | USD |
CY2012Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
247384 | USD |
CY2013Q2 | us-gaap |
Customer Deposits Current
CustomerDepositsCurrent
|
288095 | USD |
CY2013Q2 | nfec |
Value Added Taxes Payable Current
ValueAddedTaxesPayableCurrent
|
3727 | USD |
CY2013Q2 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
200000 | USD |
CY2013Q2 | nfec |
Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
|
161414 | USD |
CY2013Q2 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
177690 | USD |
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.25 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.25 | pure | |
us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
30096 | USD | |
us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
41230 | USD | |
us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
38219 | USD | |
CY2013Q1 | us-gaap |
Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
|
132646 | shares |
CY2013Q1 | us-gaap |
Share Price
SharePrice
|
7.50 | |
CY2013Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
994836 | USD |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure | |
CY2012Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
23334 | shares |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
0 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
|
0 | shares | |
nfec |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercises In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisesInPeriod
|
0 | shares | |
CY2013Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
23334 | shares |
CY2012Q4 | nfec |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercise Price Ranges
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisePriceRanges
|
4.50 | |
nfec |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grant In Period Exercise Price Range
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantInPeriodExercisePriceRange
|
0 | ||
nfec |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Canceled In Period Exercise Price Range
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsCanceledInPeriodExercisePriceRange
|
0 | ||
nfec |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised In Period Exercise Price Range
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriodExercisePriceRange
|
0 | ||
CY2013Q2 | nfec |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercise Price Ranges
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisePriceRanges
|
4.50 | |
CY2012Q4 | nfec |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
|
4.50 | |
nfec |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0 | ||
nfec |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Canceled In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsCanceledInPeriodWeightedAverageExercisePrice
|
0 | ||
nfec |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | ||
CY2013Q2 | nfec |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
|
4.50 | |
CY2012Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
212238 | USD |
CY2012Q2 | nfec |
Expenditures For Long Lived Assets
ExpendituresForLongLivedAssets
|
467837 | USD |
CY2012Q2 | us-gaap |
Assets
Assets
|
43899083 | USD |
nfec |
Expenditures For Long Lived Assets
ExpendituresForLongLivedAssets
|
473910 | USD | |
CY2013Q2 | us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
0.93 | pure |
us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
0.75 | pure | |
us-gaap |
Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
|
1680000 | USD |