2017 Q4 Form 10-Q Financial Statement
#000114420417058637 Filed on November 14, 2017
Income Statement
Concept | 2017 Q4 | 2017 Q3 | 2016 Q4 |
---|---|---|---|
Revenue | $4.650M | $1.142M | $2.400M |
YoY Change | 93.75% | -18.45% | 50.0% |
Cost Of Revenue | $4.200M | $1.100M | $2.010M |
YoY Change | 108.96% | -28.71% | 40.56% |
Gross Profit | $450.0K | $41.95K | $380.0K |
YoY Change | 18.42% | -129.4% | 123.53% |
Gross Profit Margin | 9.68% | 3.67% | 15.83% |
Selling, General & Admin | $800.0K | $382.3K | $920.0K |
YoY Change | -13.04% | 138.93% | 3.37% |
% of Gross Profit | 177.78% | 911.32% | 242.11% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $330.0K | $193.2K | $420.0K |
YoY Change | -21.43% | 54.02% | 23.53% |
% of Gross Profit | 73.33% | 460.49% | 110.53% |
Operating Expenses | $800.0K | $382.3K | $920.0K |
YoY Change | -13.04% | 145.68% | 3.37% |
Operating Profit | -$350.0K | -$340.3K | -$540.0K |
YoY Change | -35.19% | 14.11% | -25.0% |
Interest Expense | -$90.00K | $89.21K | -$80.00K |
YoY Change | 12.5% | 3.83% | 0.0% |
% of Operating Profit | |||
Other Income/Expense, Net | -$30.00K | -$86.53K | $0.00 |
YoY Change | 4.02% | ||
Pretax Income | -$470.0K | -$426.9K | -$620.0K |
YoY Change | -24.19% | 11.91% | -22.5% |
Income Tax | $0.00 | $51.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$470.0K | -$419.0K | -$620.0K |
YoY Change | -24.19% | 9.78% | -18.42% |
Net Earnings / Revenue | -10.11% | -36.69% | -25.83% |
Basic Earnings Per Share | -$0.06 | ||
Diluted Earnings Per Share | -$66.48K | -$0.06 | -$94.37K |
COMMON SHARES | |||
Basic Shares Outstanding | 7.073M shares | 7.073M shares | 6.653M shares |
Diluted Shares Outstanding | 7.073M shares |
Balance Sheet
Concept | 2017 Q4 | 2017 Q3 | 2016 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $280.0K | $20.00K | $120.0K |
YoY Change | 133.33% | -92.59% | -72.09% |
Cash & Equivalents | $282.2K | $20.83K | $124.6K |
Short-Term Investments | |||
Other Short-Term Assets | $3.650M | $4.520M | $3.110M |
YoY Change | 17.36% | 123.76% | -18.8% |
Inventory | $2.064M | $5.150M | $4.607M |
Prepaid Expenses | $186.5K | $281.9K | |
Receivables | $12.22M | $7.940M | $7.270M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $18.76M | $17.63M | $15.11M |
YoY Change | 24.09% | 9.98% | -22.79% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $19.99M | $17.29M | $17.13M |
YoY Change | 16.69% | -17.07% | 62.29% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $22.68M | $22.53M | $22.20M |
YoY Change | 2.13% | -4.21% | -10.38% |
TOTAL ASSETS | |||
Total Short-Term Assets | $18.76M | $17.63M | $15.11M |
Total Long-Term Assets | $22.68M | $22.53M | $22.20M |
Total Assets | $41.43M | $40.16M | $37.32M |
YoY Change | 11.02% | 1.54% | -15.86% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.980M | $147.0K | $3.400M |
YoY Change | 17.06% | -96.17% | -30.33% |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | $513.4K | ||
YoY Change | |||
Short-Term Debt | $7.224M | $6.010M | $5.761M |
YoY Change | 25.4% | -0.66% | -28.51% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $14.14M | $13.04M | $10.61M |
YoY Change | 33.21% | 16.99% | -24.07% |
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 | $13.04M | $10.61M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $14.14M | $13.04M | $10.61M |
YoY Change | 33.21% | 16.99% | -24.07% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | |||
YoY Change | |||
Common Stock | $12.06M | $12.06M | $12.06M |
YoY Change | 0.0% | 3.89% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $27.25M | $27.07M | $26.71M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $41.43M | $40.16M | $37.32M |
YoY Change | 11.02% | 1.55% | -15.86% |
Cashflow Statement
Concept | 2017 Q4 | 2017 Q3 | 2016 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$470.0K | -$419.0K | -$620.0K |
YoY Change | -24.19% | 9.78% | -18.42% |
Depreciation, Depletion And Amortization | $330.0K | $193.2K | $420.0K |
YoY Change | -21.43% | 54.02% | 23.53% |
Cash From Operating Activities | -$780.0K | $0.00 | $320.0K |
YoY Change | -343.75% | -100.0% | -114.48% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | -$410.0K | |
YoY Change | -100.0% | -278.26% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | |
YoY Change | -100.0% | ||
Cash From Investing Activities | $0.00 | $0.00 | -$410.0K |
YoY Change | -100.0% | -116.53% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 1.030M | 20.00K | -60.00K |
YoY Change | -1816.67% | -45.45% | |
NET CHANGE | |||
Cash From Operating Activities | -780.0K | 0.000 | 320.0K |
Cash From Investing Activities | 0.000 | 0.000 | -410.0K |
Cash From Financing Activities | 1.030M | 20.00K | -60.00K |
Net Change In Cash | 250.0K | 20.00K | -150.0K |
YoY Change | -266.67% | -71.43% | -193.75% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$780.0K | $0.00 | $320.0K |
Capital Expenditures | $0.00 | -$410.0K | |
Free Cash Flow | -$780.0K | $730.0K | |
YoY Change | -206.85% | -129.92% |
Facts In Submission
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Trading Symbol
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Selling And Marketing Expense
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Income Tax Expense Benefit
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Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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Comprehensive Income Net Of Tax
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70812 | USD |
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Earnings Per Share Basic
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|
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-0.06 | |
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|
-103809 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-161173 | USD | |
CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
434571 | USD |
CY2016Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
273398 | USD |
us-gaap |
Interest Paid Net
InterestPaidNet
|
267240 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
271508 | USD | |
CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-340339 | USD |
CY2017Q3 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
2689 | USD |
CY2017Q3 | us-gaap |
Interest Expense
InterestExpense
|
89214 | USD |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
577270 | USD | |
us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
400802 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-1591606 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
77877 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1126355 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-927553 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
244712 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-132463 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-155562 | USD | |
us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
5877397 | USD | |
us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
6079730 | USD | |
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
8361 | USD | |
us-gaap |
Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
|
1823919 | USD | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
1816319 | USD | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
0 | USD | |
us-gaap |
Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
|
-3908 | USD | |
us-gaap |
Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
|
1814 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
3908 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1814 | USD | |
CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
62018 | USD |
CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
62018 | USD |
CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
62018 | USD |
CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
62018 | USD |
CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
62018 | USD |
CY2017Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
2310170 | USD |
CY2017Q3 | us-gaap |
Depreciation
Depreciation
|
193171 | USD |
CY2016Q3 | us-gaap |
Depreciation
Depreciation
|
125419 | USD |
us-gaap |
Depreciation
Depreciation
|
568317 | USD | |
us-gaap |
Depreciation
Depreciation
|
530224 | USD | |
nfec |
Value Added Tax Rate
ValueAddedTaxRate
|
0.17 | pure | |
CY2017Q3 | nfec |
Percentage Of Income Tax Examination Minimum Likelihood Of Tax Benefits Being Realized Upon Settlement
PercentageOfIncomeTaxExaminationMinimumLikelihoodOfTaxBenefitsBeingRealizedUponSettlement
|
0.5 | pure |
CY2017Q3 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
6.65450 | pure |
CY2016Q3 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
6.66938 | pure |
nfec |
Weighted Average Exchange Rate
WeightedAverageExchangeRate
|
6.80573 | pure | |
nfec |
Weighted Average Exchange Rate
WeightedAverageExchangeRate
|
6.57924 | pure | |
CY2017Q3 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
8109659 | USD |
CY2016Q4 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
7357282 | USD |
CY2016Q4 | nfec |
Retention Receivable Cost
RetentionReceivableCost
|
629680 | USD |
CY2017Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
743243 | USD |
CY2016Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
712288 | USD |
CY2017Q3 | nfec |
Accounts And Retention Receivable Net
AccountsAndRetentionReceivableNet
|
7938891 | USD |
CY2016Q4 | nfec |
Accounts And Retention Receivable Net
AccountsAndRetentionReceivableNet
|
7274674 | USD |
CY2017Q3 | nfec |
Retention Receivable Cost
RetentionReceivableCost
|
572475 | USD |
CY2017Q3 | nfec |
Percentage Of Accounts Receivable Recovered
PercentageOfAccountsReceivableRecovered
|
0.02 | pure |
CY2017Q3 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
592998 | USD |
CY2016Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
519500 | USD |
CY2017Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
3943704 | USD |
CY2016Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
3684639 | USD |
CY2017Q3 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
612238 | USD |
CY2016Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
402425 | USD |
CY2017Q3 | us-gaap |
Customer Deposits Current
CustomerDepositsCurrent
|
608927 | USD |
CY2017Q3 | nfec |
Value Added Taxes Payable Current
ValueAddedTaxesPayableCurrent
|
12563 | USD |
CY2017Q3 | nfec |
Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
|
555239 | USD |
CY2016Q4 | nfec |
Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
|
387981 | USD |
CY2017Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
45764 | USD |
CY2016Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
50372 | USD |
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
|
-177416 | USD | |
us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-279848 | USD | |
us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
180139 | USD | |
us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
280096 | USD | |
nfec |
Income Loss Before Income Taxes
IncomeLossBeforeIncomeTaxes
|
709663 | USD | |
nfec |
Income Loss Before Income Taxes
IncomeLossBeforeIncomeTaxes
|
1119393 | USD | |
CY2017Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
7073289 | shares |
CY2017Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2017Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2016Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2017Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
7073289 | shares |
CY2016Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
7073289 | shares |
CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
7073289 | shares |
CY2017Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2016Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
us-gaap |
Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
|
1 | pure | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 107%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 27pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="36"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>l</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>Use of estimates</font></div> </td> </tr> </table> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; 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> | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1104531 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1201318 | USD | |
us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
0 | USD | |
nfec |
Transfer From Construction In Progress To Plant And Equipment
TransferFromConstructionInProgressToPlantAndEquipment
|
0 | USD | |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-7956 | USD | |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
0 | USD | |
CY2017Q3 | us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
0.1 | pure |
CY2016Q3 | us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
0.1 | pure |
us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
0.1 | pure | |
us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
0.1 | pure | |
CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-418959 | USD |
CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-381632 | USD |
CY2017Q3 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
0 | USD |
CY2016Q4 | nfec |
Accounts And Retention Receivable Gross
AccountsAndRetentionReceivableGross
|
7986962 | USD |
CY2016Q3 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
2739 | USD |
us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
0 | USD | |
us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
2788 | USD | |
us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
16385 | USD | |
CY2017Q3 | us-gaap |
Minority Interest
MinorityInterest
|
48545 | USD |
CY2016Q4 | us-gaap |
Minority Interest
MinorityInterest
|
0 | USD |
CY2017Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
27117572 | USD |
CY2016Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
26707058 | USD |
CY2017Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-426915 | USD |
CY2016Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-381632 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
-1112487 | USD | |
us-gaap |
Profit Loss
ProfitLoss
|
-1201318 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-7956 | USD |
CY2016Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
0 | USD |
nfec |
Transfer From Construction In Progress To Plant And Equipment
TransferFromConstructionInProgressToPlantAndEquipment
|
6014313 | USD | |
us-gaap |
Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
|
56204 | USD | |
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
290700 | USD | |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
1176097 | USD | |
CY2017Q3 | us-gaap |
Due To Employees Current
DueToEmployeesCurrent
|
675086 | USD |
CY2016Q4 | us-gaap |
Due To Employees Current
DueToEmployeesCurrent
|
0 | USD |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: -1in; MARGIN: 0in 0in 0pt 1in; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"></div> <table style="LINE-HEIGHT: 107%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="96"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <b><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>NOTE–1</font></b></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">BASIS OF PRESENTATION</font></b></div> </td> </tr> </table> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; 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;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">In the opinion of management, the consolidated balance sheet as of December 31, 2016 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 September 30, 2017 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2017 or for any future period.</font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; 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, 2016.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
us-gaap |
Nature Of Operations
NatureOfOperations
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <table style="LINE-HEIGHT: 107%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="96"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <b><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>NOTE–2</font></b></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"> ORGANIZATION AND BUSINESS BACKGROUND</font></b></div> </td> </tr> </table> <div style="CLEAR:both;LINE-HEIGHT: normal; TEXT-INDENT: -63.15pt; MARGIN: 0in 0in 0pt 63.15pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></b></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; 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;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; 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;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><u><font style="FONT-FAMILY: 'Times New Roman',serif; 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;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <table style="LINE-HEIGHT: 107%; WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; WIDTH: 19%; PADDING-RIGHT: 1.4pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" valign="bottom" width="19%"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"> Name</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; WIDTH: 1%; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="bottom" width="1%"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; WIDTH: 20%; PADDING-RIGHT: 1.4pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" valign="bottom" width="20%"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">Place of incorporation<br/> and kind of<br/> legal entity</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; WIDTH: 1%; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="bottom" width="1%"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; WIDTH: 22%; PADDING-RIGHT: 1.4pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" valign="bottom" width="22%"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">Principal activities<br/> and place of operation</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; WIDTH: 1%; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="bottom" width="1%"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; WIDTH: 26%; PADDING-RIGHT: 1.4pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" valign="bottom" width="26%"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">Particulars of issued/<br/> registered share<br/> capital</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; WIDTH: 1%; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="bottom" width="1%"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; WIDTH: 9%; PADDING-RIGHT: 1.4pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" valign="bottom" width="9%"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">Effective interest<br/> held</font></div> </td> </tr> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">Liaoning Nengfa Weiye Energy Technology Co. Ltd (“Nengfa Energy”)</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">The PRC, a limited liability company</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">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</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">US$<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">5,000,000</font></font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">100</font>%</font></div> </td> </tr> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">Liaoning Nengfa Tiefa Import & Export Co. Ltd</font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"> (“Nengfa Tiefa Import & Export”)</font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">The PRC, a limited liability company</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">Development and production of hi-tech and automatic-intelligence valve products</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">RMB<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">877,192</font></font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt"> <font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">57</font>%<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> </td> </tr> </table> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman',serif; FONT-SIZE: 10pt">NFEC and its subsidiaries are hereinafter referred to as (the “Company”).<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> </div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> |