China Tracker - Details for China Environmental Protection (CNVP)

 China Environmental Protection
Shares Outstanding (MRQ): 17.17 mill
New Shares / Dilution (TTM): 1.02 mill6.32%
Cash (MRQ): 7.86 mill0.00%
Account Receivables (MRQ): 5.86 mill0.00%
Account Receivables (Q/Q): + 3.47 mill  
Long-Term Debt (MRQ): NO DEBT
Revenue Growth (Q/Q): 6.67% 
Revenue Growth (Y/Y): 92.01%
Net Income Growth (Q/Q): 17.29% 
Net Income Growth (Y/Y): 72.73%
EPS Growth (Y/Y): 62.47%
Net Margin (Q/Q): 19.7% (17.9%)1.80% 
Net Margin (Y/Y): 19.7% (21.9%)-2.20% 
EPS | P/E (2 MRQ Projection): $0.670.00 
CFPS | P/CF (2 MRQ Projection): $0.570.00 
Price/Sales (2 MRQ Projection): 0.00
Price/Book (MRQ): 0.00 
Auditor: Keith K. Zhen
 
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2010-10-31): $0.650.00 
 Basic Facts and History (show more)
Reporting Type: U.S. Company (10-K Filings) 
Going Public: Reverse Merger on 2010-02-12 

 Business Outlook

COVERAGE TERMINATED (Going Dark)
Recent Chain of Events:
2012-09-24 -- Last SEC Filing
2011-08-11 -- Auditor Engagement
2011-01-21 -- Auditor Resignation
2010-08-23 -- Last Quarterly/Annual Report: Q3/FY2010 ended June 30, 2010

(Source: Trading China, 2012-09-30)

On January 21, 2011, Friedman LLP resigned as the independent accounting firm of China Environmental Protection. In a letter to the Company's board of directors, dated January 14, 2011, Friedman cited a lack of cooperation by the Company in the conduct of its field review in connection with its audit of the Company's financial statements for the fiscal year ended September 30, 2010. In the January Letter, Friedman stated that it randomly selected several project sites where the Company had sold and installed waste water treatment equipment to conduct site inspections. On November 20, 2010, representatives of Friedman attempted to make an inspection of the Chongqing Yudong Waste Water Treatment Plant, located in the Banan District of Chonqing, accompanied by the Company's local sales representative for that region. Friedman and the Company Representative were denied access to the Plant.

In the January Letter, Friedman stated that comments made by a security guard at the Plant and by the Company Representative led Friedman to question the accuracy of the sales revenue the Company had recognized for the equipment sale and installation project at the Plant. Following the site tour, Friedman notified the Company's management of its concerns and requested additional information with respect to the project installation at the Plant. In a letter dated December 23, 2010, Friedman informed the Company that due to unresolved questions concerning certain material contracts and the Company's revenue recognition practices, it would be unable to complete the audit on schedule. ... Friedman then resigned as the Company's independent accounting firm on January 21, 2011.

(Source: 8-K Filing, 2011-04-14)
CNVP
Waste & Water Treatment

COVERAGE SUSPENDED OR TERMINATED
 
READ: Score Cards Explained
SAFETY/RISK SCORE
EXTREME RISK
DETAILS: Safety/Risk Model for CNVP
Current Price:  n/a
F10k Day (2011-02-15): -100.00%$0.40
2010 Close: -100.00%$1.35
2011 Close: -100.00%$0.06
High (2011-10-31): -100.00%$0.10
Low (2011-08-25): -100.00%$0.05
Exchange: N/A
Market Capitalization: n/a
Total Shares: 17.17 mill
Float: n/a
Avg Volume: n/a
Last Quarter: 2010-06-30
Revenue (MRQ): 15.84 mill
Net Income (MRQ): 3.12 mill
Op. Cash Flow (MRQ): 3.83 mill
all financial data provided without warranty