2015 Q1 Form 10-Q Financial Statement
#000114420415031045 Filed on May 15, 2015
Income Statement
Concept | 2015 Q1 | 2014 Q4 | 2014 Q1 |
---|---|---|---|
Revenue | $1.181M | $3.690M | $1.749M |
YoY Change | -32.47% | 136.54% | 34.68% |
Cost Of Revenue | $894.5K | $3.600M | $1.343M |
YoY Change | -33.4% | 179.07% | 51.32% |
Gross Profit | $286.5K | $90.00K | $405.8K |
YoY Change | -29.38% | -67.86% | -1.27% |
Gross Profit Margin | 24.26% | 2.44% | 23.2% |
Selling, General & Admin | $282.3K | $650.0K | $410.6K |
YoY Change | -31.24% | 51.16% | 31.14% |
% of Gross Profit | 98.52% | 722.22% | 101.18% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $215.6K | $210.0K | $192.8K |
YoY Change | 11.84% | 0.0% | 3.91% |
% of Gross Profit | 75.25% | 233.33% | 47.52% |
Operating Expenses | $282.3K | $650.0K | $410.6K |
YoY Change | -31.24% | 51.16% | 31.14% |
Operating Profit | $4.242K | -$560.0K | -$4.807K |
YoY Change | -188.25% | 273.33% | -104.91% |
Interest Expense | $101.9K | -$70.00K | $104.9K |
YoY Change | -2.82% | 16.67% | 3.55% |
% of Operating Profit | 2402.24% | ||
Other Income/Expense, Net | -$90.09K | $180.0K | -$104.6K |
YoY Change | -13.9% | 51.6% | |
Pretax Income | -$85.84K | -$460.0K | -$109.4K |
YoY Change | -21.56% | 119.05% | -479.07% |
Income Tax | $208.00 | $0.00 | $294.00 |
% Of Pretax Income | |||
Net Earnings | -$86.05K | -$460.0K | -$109.7K |
YoY Change | -21.58% | 109.09% | -1223.75% |
Net Earnings / Revenue | -7.29% | -12.47% | -6.27% |
Basic Earnings Per Share | -$0.02 | -$0.02 | |
Diluted Earnings Per Share | -$0.02 | -$80.42K | -$0.02 |
COMMON SHARES | |||
Basic Shares Outstanding | 5.719M shares | 5.719M shares | 5.619M shares |
Diluted Shares Outstanding | 5.719M shares | 5.619M shares |
Balance Sheet
Concept | 2015 Q1 | 2014 Q4 | 2014 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $260.0K | $1.300M | $630.0K |
YoY Change | -58.73% | 27.45% | -52.27% |
Cash & Equivalents | $260.9K | $1.304M | $628.0K |
Short-Term Investments | |||
Other Short-Term Assets | $1.320M | $2.810M | $3.060M |
YoY Change | -56.86% | -8.47% | 72.88% |
Inventory | $6.410M | $5.623M | $2.976M |
Prepaid Expenses | $141.1K | ||
Receivables | $8.020M | $8.352M | $5.815M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $16.01M | $18.84M | $13.07M |
YoY Change | 22.52% | 50.8% | -1.15% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $15.10M | $14.04M | $14.41M |
YoY Change | 4.81% | -4.58% | -44.72% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $29.62M | $29.47M | $29.73M |
YoY Change | -0.37% | -2.38% | 2.04% |
TOTAL ASSETS | |||
Total Short-Term Assets | $16.01M | $18.84M | $13.07M |
Total Long-Term Assets | $29.62M | $29.47M | $29.73M |
Total Assets | $45.63M | $48.30M | $42.80M |
YoY Change | 6.62% | 13.19% | 1.05% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $4.580M | $5.810M | $1.520M |
YoY Change | 201.32% | 433.03% | -16.94% |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $6.548M | $8.450M | $6.951M |
YoY Change | -5.81% | 23.01% | -15.13% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $14.14M | $16.97M | $11.24M |
YoY Change | 25.8% | 56.98% | -0.97% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $14.14M | $16.97M | $11.24M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $14.14M | $16.97M | $11.24M |
YoY Change | 25.8% | 56.98% | -0.97% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | |||
YoY Change | |||
Common Stock | $9.893M | $9.893M | $9.703M |
YoY Change | 1.96% | 1.96% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $31.49M | $31.33M | $31.56M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $45.63M | $48.30M | $42.80M |
YoY Change | 6.61% | 13.19% | 1.04% |
Cashflow Statement
Concept | 2015 Q1 | 2014 Q4 | 2014 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$86.05K | -$460.0K | -$109.7K |
YoY Change | -21.58% | 109.09% | -1223.75% |
Depreciation, Depletion And Amortization | $215.6K | $210.0K | $192.8K |
YoY Change | 11.84% | 0.0% | 3.91% |
Cash From Operating Activities | -$870.0K | -$340.0K | -$530.0K |
YoY Change | 64.15% | -141.98% | -30.26% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $174.1K | -$40.00K | $1.173K |
YoY Change | 14745.78% | -66.67% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | |
YoY Change | -100.0% | ||
Cash From Investing Activities | -$170.0K | -$40.00K | $0.00 |
YoY Change | -63.64% | -100.0% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | 980.0K | 140.0K |
YoY Change | -100.0% | -227.27% | -114.89% |
NET CHANGE | |||
Cash From Operating Activities | -870.0K | -340.0K | -530.0K |
Cash From Investing Activities | -170.0K | -40.00K | 0.000 |
Cash From Financing Activities | 0.000 | 980.0K | 140.0K |
Net Change In Cash | -1.040M | 600.0K | -390.0K |
YoY Change | 166.67% | -957.14% | -77.84% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$870.0K | -$340.0K | -$530.0K |
Capital Expenditures | $174.1K | -$40.00K | $1.173K |
Free Cash Flow | -$1.044M | -$300.0K | -$531.2K |
YoY Change | 96.57% | -132.26% | -30.11% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2014Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1304130 | USD |
CY2014Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
1950110 | USD |
CY2014Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
8350369 | USD |
CY2014Q4 | us-gaap |
Contract Receivable Retainage Due One Year Or Less
ContractReceivableRetainageDueOneYearOrLess
|
743006 | USD |
CY2014Q4 | us-gaap |
Inventory Net
InventoryNet
|
5623318 | USD |
CY2014Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
864317 | USD |
CY2014Q4 | us-gaap |
Assets Current
AssetsCurrent
|
18837250 | USD |
CY2015Q1 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
11501799 | USD |
CY2015Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
3023075 | USD |
CY2015Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
15098405 | USD |
CY2015Q1 | us-gaap |
Assets
Assets
|
45630087 | USD |
CY2015Q1 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
4581435 | USD |
CY2015Q1 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
6547609 | USD |
CY2015Q1 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
1500000 | USD |
CY2015Q1 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
431682 | USD |
CY2015Q1 | nfec |
Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
|
1078914 | USD |
CY2014Q4 | nfec |
Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
|
783895 | USD |
CY2015Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
14139640 | USD |
CY2014Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
16971772 | USD |
CY2015Q1 | us-gaap |
Liabilities
Liabilities
|
14139640 | USD |
CY2014Q4 | us-gaap |
Liabilities
Liabilities
|
16971772 | USD |
CY2015Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2014Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2015Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
5719 | USD |
CY2014Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
5719 | USD |
CY2015Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
9887646 | USD |
CY2014Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
9887646 | USD |
CY2015Q1 | us-gaap |
Retained Earnings Appropriated
RetainedEarningsAppropriated
|
2227634 | USD |
CY2014Q4 | us-gaap |
Retained Earnings Appropriated
RetainedEarningsAppropriated
|
2227634 | USD |
CY2015Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
4755254 | USD |
CY2014Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
4511915 | USD |
CY2015Q1 | us-gaap |
Retained Earnings Unappropriated
RetainedEarningsUnappropriated
|
14614194 | USD |
CY2014Q4 | us-gaap |
Retained Earnings Unappropriated
RetainedEarningsUnappropriated
|
14700245 | USD |
CY2015Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
31490447 | USD |
CY2014Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
31333159 | USD |
CY2015Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
45630087 | USD |
CY2014Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
48304931 | USD |
CY2015Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="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" align="justify"></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT-SIZE: 10pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 27pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="36"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt">⋅</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Use of estimates</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">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.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
CY2015Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2014Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2015Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2014Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2015Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5719147 | shares |
CY2014Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5719147 | shares |
CY2015Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5719147 | shares |
CY2014Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5719147 | shares |
CY2015Q1 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
38585 | USD |
CY2014Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
1748926 | USD |
CY2015Q1 | nfec |
Value Added Tax Rate
ValueAddedTaxRate
|
0.17 | pure |
CY2014Q1 | us-gaap |
Depreciation
Depreciation
|
192810 | USD |
CY2015Q1 | us-gaap |
Depreciation
Depreciation
|
215640 | USD |
CY2015Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
67555 | USD |
CY2015Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
67555 | USD |
CY2015Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
67555 | USD |
CY2015Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
67555 | USD |
CY2015Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
67555 | USD |
CY2015Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
2685300 | USD |
CY2014Q1 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
1615111 | USD |
CY2015Q1 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
1142490 | USD |
CY2014Q1 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
133815 | USD |
CY2015Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
1181075 | USD |
CY2014Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
1235521 | USD |
CY2015Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
883303 | USD |
CY2014Q1 | us-gaap |
Cost Of Services
CostOfServices
|
107644 | USD |
CY2015Q1 | us-gaap |
Cost Of Services
CostOfServices
|
11224 | USD |
CY2014Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
1343165 | USD |
CY2015Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
894527 | USD |
CY2014Q1 | us-gaap |
Gross Profit
GrossProfit
|
405761 | USD |
CY2015Q1 | us-gaap |
Gross Profit
GrossProfit
|
286548 | USD |
CY2014Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
17932 | USD |
CY2015Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
6224 | USD |
CY2014Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
392636 | USD |
CY2015Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
276082 | USD |
CY2014Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
410568 | USD |
CY2015Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
282306 | USD |
CY2014Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4807 | USD |
CY2015Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
4242 | USD |
CY2014Q1 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
134 | USD |
CY2015Q1 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
0 | USD |
CY2014Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
88 | USD |
CY2015Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
11818 | USD |
CY2014Q1 | us-gaap |
Interest Expense
InterestExpense
|
104855 | USD |
CY2015Q1 | us-gaap |
Interest Expense
InterestExpense
|
101903 | USD |
CY2014Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-104633 | USD |
CY2015Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-90085 | USD |
CY2014Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-109440 | USD |
CY2015Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-85843 | USD |
CY2014Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
294 | USD |
CY2015Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
208 | USD |
CY2015Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-86051 | USD |
CY2014Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-388360 | USD |
CY2014Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.02 | |
CY2015Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.02 | |
CY2014Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.02 | |
CY2015Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.02 | |
CY2014Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5619147 | shares |
CY2015Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5719147 | shares |
CY2014Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5619147 | shares |
CY2015Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5719147 | shares |
CY2014Q1 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
6.1644 | pure |
CY2015Q1 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
6.1091 | pure |
CY2014Q1 | nfec |
Weighted Average Exchange Rate
WeightedAverageExchangeRate
|
6.1199 | pure |
CY2015Q1 | nfec |
Weighted Average Exchange Rate
WeightedAverageExchangeRate
|
6.1358 | pure |
CY2015Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
1065792 | USD |
CY2014Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
1313987 | USD |
CY2015Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
4535552 | USD |
CY2014Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
3587533 | USD |
CY2008 | nfec |
Estimated Construction Cost
EstimatedConstructionCost
|
24000000 | USD |
CY2015Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
265419 | USD |
CY2014Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
153298 | USD |
CY2015Q1 | us-gaap |
Customer Deposits Current
CustomerDepositsCurrent
|
176412 | USD |
CY2015Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
93220 | USD |
CY2014Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
69429 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1260968 | USD |
CY2014Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-515 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
0 | USD |
CY2014Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-92413 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
290190 | USD |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-525137 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-873965 | USD |
CY2014Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1173 | USD |
CY2015Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
174141 | USD |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-1173 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-174141 | USD |
CY2014Q1 | us-gaap |
Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
|
0 | USD |
CY2015Q1 | us-gaap |
Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
|
1955735 | USD |
CY2014Q4 | us-gaap |
Customer Deposits Current
CustomerDepositsCurrent
|
131213 | USD |
CY2015Q1 | nfec |
Value Added Taxes Payable Current
ValueAddedTaxesPayableCurrent
|
349 | USD |
CY2014Q4 | nfec |
Value Added Taxes Payable Current
ValueAddedTaxesPayableCurrent
|
2003 | USD |
CY2015Q1 | nfec |
Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
|
410777 | USD |
CY2014Q4 | nfec |
Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
|
414565 | USD |
CY2014Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
0 | USD |
CY2015Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
3911470 | USD |
CY2014Q1 | us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
138892 | USD |
CY2015Q1 | us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
6519117 | USD |
CY2014Q1 | us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
0 | USD |
CY2015Q1 | us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
4563382 | USD |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
138892 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
0 | USD |
CY2015Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.25 | pure |
CY2014Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
209669 | USD |
CY2014Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-5311 | USD |
CY2015Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
4900 | USD |
CY2014Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-392729 | USD |
CY2015Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-1043206 | USD |
CY2015Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
232455 | USD |
CY2014Q1 | us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
713548 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
-1141438 | USD |
CY2014Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
352328 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
740436 | USD |
CY2014Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
4220 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
450593 | USD |
CY2014Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
450687 | USD |
CY2013Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1020760 | USD |
CY2014Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
628031 | USD |
CY2014Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
809 | USD |
CY2015Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
0 | USD |
CY2014Q1 | us-gaap |
Interest Paid
InterestPaid
|
82355 | USD |
CY2015Q1 | us-gaap |
Interest Paid
InterestPaid
|
79403 | USD |
CY2014Q1 | nfec |
Income Before Income Taxes
IncomeBeforeIncomeTaxes
|
8391 | USD |
CY2015Q1 | nfec |
Income Before Income Taxes
IncomeBeforeIncomeTaxes
|
-48843 | USD |
CY2014Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.25 | pure |
CY2014Q1 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
2098 | USD |
CY2015Q1 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-12211 | USD |
CY2014Q1 | us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
-1084 | USD |
CY2015Q1 | us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
12419 | USD |
CY2014Q1 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
-1084 | USD |
CY2015Q1 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
0 | USD |
CY2014Q1 | us-gaap |
Assets
Assets
|
42798632 | USD |
CY2014Q1 | nfec |
Expenditures For Long Lived Assets
ExpendituresForLongLivedAssets
|
1173 | USD |
CY2015Q1 | nfec |
Expenditures For Long Lived Assets
ExpendituresForLongLivedAssets
|
174141 | USD |
CY2015Q1 | nfec |
Accounts And Retention Receivable Gross
AccountsAndRetentionReceivableGross
|
8373935 | USD |
CY2014Q4 | nfec |
Accounts And Retention Receivable Gross
AccountsAndRetentionReceivableGross
|
9451668 | USD |
CY2015Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
358883 | USD |
CY2015Q1 | nfec |
Percentage Of Accounts Receivable Recovered
PercentageOfAccountsReceivableRecovered
|
0.14 | pure |
CY2015Q1 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
132737 | USD |
CY2014Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
13387 | USD |
CY2014Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
356293 | USD |
CY2015Q1 | nfec |
Accounts And Retention Receivable Net
AccountsAndRetentionReceivableNet
|
8015052 | USD |
CY2014Q4 | nfec |
Accounts And Retention Receivable Net
AccountsAndRetentionReceivableNet
|
9095375 | USD |
CY2015Q1 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
7592503 | USD |
CY2015Q1 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="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"> </div> <table style="clear:both;FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="0"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 1in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="96"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt"><b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>NOTE-1</font></b></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt" align="justify"><b> <font style="FONT-SIZE: 10pt">BASIS OF PRESENTATION</font></b></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">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.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In the opinion of management, the consolidated balance sheet as of December 31, 2014 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 March 31, 2015 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2015 or for any future period.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">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, 2014.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
CY2015Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <table style="clear:both;FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="0"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 1in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="96"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt"><strong><font style="FONT-SIZE: 10pt">NOTE-2</font></strong></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt" align="justify"> <strong><font style="FONT-SIZE: 10pt">ORGANIZATION AND BUSINESS BACKGROUND</font></strong></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -57.25pt; MARGIN: 0in 0in 0pt 57.25pt" align="justify"><strong><font style="FONT-SIZE: 10pt">  </font></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">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.”</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">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.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Description of subsidiaries</font></u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="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; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="20%"> <div>Name</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; 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; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="19%"> <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; BACKGROUND: #ffffff; 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; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="25%"> <div>Principal activities<br/> and place of operation</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; 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; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="19%"> <div>Particulars of issued/<br/> registered share<br/> capital</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; 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; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>Effective<br/> interest<br/> held</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="20%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="19%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="25%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="19%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="12%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; 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: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="20%"> <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: #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="19%"> <div>The PRC, a limited liability company</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="25%"> <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: #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="19%"> <div>US$5,000,000</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: 400" width="12%"> <div>100%</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> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">NFEC and its subsidiary are hereinafter referred to as (the “Company”).</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
CY2015Q1 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
806516 | USD |
CY2014Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
721798 | USD |
CY2014Q4 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
8708662 | USD |
CY2015Q1 | nfec |
Retention Receivable Cost
RetentionReceivableCost
|
781432 | USD |
CY2014Q4 | nfec |
Retention Receivable Cost
RetentionReceivableCost
|
743006 | USD |
CY2014Q1 | us-gaap |
Amortization Of Deferred Charges
AmortizationOfDeferredCharges
|
87265 | USD |
CY2015Q1 | us-gaap |
Amortization Of Deferred Charges
AmortizationOfDeferredCharges
|
0 | USD |
CY2015Q1 | nfec |
Warrant Period
WarrantPeriod
|
P12M |