China Tracker - Details for China North East Petroleum (CNEP)

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 China North East Petroleum
 Basic Facts and History
Data Source: Annual Report for the period ended 2010-12-31
Reporting Type: U.S. Company (10-K Filings) 
Incorporation: Nevada 
Corporate Headquarters: USA (New York) 
Going Public: Reverse Merger on 2004-03-29 
Previous Entity: Draco Holding Corporation 
Uplisting to Senior Exchange: on 2009-06-15 at $5.29 (-100.00% since Uplisting)
Main Operating Subsidiary: Song Yuan City Yu Qiao Qianan Hong Xiang Oil and Gas Development Co., founded 2002 
Investor Relations: Investor Relations Website 
Internal Controls: not effective 
Internal Controls Audit: not effective 
Auditor Opinion:

The following material weakness has been identified and included in Management Report: deficiencies in the operating effectiveness of the Company\\\\\\\'s internal controls over verification of crude oil selling price. In our opinion, because of the effect of the material weakness identified above on the achievement of the objectives of the control criteria, the Company has not maintained effective internal control over financial reporting as of December 31, 2010. (Baker Tilly Hong Kong)

This company is overdue with their latest quarterly or annual report! The Trading China Rating is suspended until the company is back in compliance with SEC filing rules.

This company has reported corporate governance issues. You may want to look further into possible issues before making an investment decision.

Main Shareholder: HongjunWang (Chairman, President) 
Ownership: 22.70% 
 Auditor Trail (since January 1, 2009)
2010-01-29Baker Tilly Hong KongAppointment (Merger)
2010-01-29Jimmy C. H. Cheung & Co.Resignation (Merger)
2005-04-11Jimmy C. H. Cheung & Co.Appointment
 Senior Management Trail (since January 1, 2009)
2010-09-30Shaohui (Steven) ChenCFOAppointment
2010-09-30Andrew KanCFOResignation
2010-05-22Andrew KanCFOAppointment
2010-05-22Edward RuleChairmanAppointment
2010-05-22Jingfu LiCEOAppointment
2010-05-22Hongjun WangCEODismissal
2010-05-22Zhang YangCFOResignation
2010-05-22Hongjun WangChairmanResignation
2006-01-01Zhang YangCFOAppointment
 Fiscal Year
Fiscal Year ends: December 31 
First Quarter 10-Q: due by 2018-05-15 
Second Quarter 10-Q: due by 2018-08-15 
Third Quarter 10-Q: due by 2017-11-15 
Annual Report 10-K: due by 2018-03-31 
Oil & Gas
READ: Score Cards Explained
DETAILS: Safety/Risk Model for CNEP
Current Price:  n/a
F10k Day (2004-09-17): -100.00%$0.80
2009 Close: -100.00%$9.25
2010 Close: -100.00%$5.76
2011 Close: -100.00%$2.05
High (2012-02-22): -100.00%$3.68
Low (2012-10-02): -100.00%$0.20
Market Capitalization: n/a
Total Shares: 31.36 mill
Float: n/a
Avg Volume: n/a
Last Quarter: 2011-03-31
Revenue (MRQ): 21.75 mill
Net Income (MRQ): 6.91 mill
Op. Cash Flow (MRQ): 13.55 mill
all financial data provided without warranty