China Tracker - Details for Eastern Environment Solutions (EESC)


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 WARNING: Form 15 filed with the SEC!
 Eastern Environment Solutions
 Business Outlook

At March 31, 2011 we had no PET in inventory, as a result of which second quarter PET sales may lag the first quarter. For the future, however, we expect growth to continue. We plan to expand our waste processing operations by (a) pursuing strategic acquisitions, (b) developing additional landfills, and (c) implementing additional recycling technologies that will provide additional revenue sources, such as the sale of methane to the electric power industry. Given China's continuing growth, we believe there will be numerous market opportunities.

(Source: 10-Q Filing, 2011-05-16)

The sale of recovered PET bottles and bottle caps produced 69% of our revenue ($7,959,964) in the first nine months of 2010. In the third quarter, revenue increased from $452,533 to $4,659,194. For the future we expect growth to continue. Having now returned to operations, we will endeavor to expand our waste processing operations by (a) pursuing strategic acquisitions, (b) developing additional landfills, and (c) implementing additional recycling technologies that will provide additional revenue sources, such as the sale of methane to the electric power industry. Given China's continuing growth, we believe there will be numerous market opportunities.

Our operating subsidiary, Yifeng, has sufficient liquidity to fund its near-term operations and to fund the working capital demands of a modest expansion of its operations. In order to complete Phase II and Phase III of the Landfill project within the next six years, it will be necessary for us to obtain additional debt or equity financing. In addition, if we are to achieve critical mass in our industry by developing new landfills, we will require substantial infusions of capital.

(Source: 10-Q Filing, 2010-11-26)

We are pleased to have established our audit, compensation and nominating committees. This shows our commitment to meeting the highest standards of corporate governance. In addition to serving critical internal management and corporate governance functions, this development also satisfies another important prerequisite for listing our stock on a U.S. stock exchange.

(Source: Globe Newswire, 2010-07-06)

During the first quarter we achieved a number of important milestones that bode extremely well for the balance of 2010. First, in January 2010, we successfully negotiated with the Harbin Municipal Urban Administrative Bureau (HMUAB) to increase the fee payable to us for waste disposal from 42 RMB per ton to 60 RMB per ton. We continue to negotiate with HMUAB to achieve additional price increases. Second, in March 2010, we obtained approval from the HMUAB to increase our daily waste disposal capacity from 1,200 tons to 1,500 tons, and the local government has announced that it will divert this amount of additional waste to our landfill. As a result, we are now handling approximately 25% more waste on a daily basis. We also plan to increase waste receipts by adding additional shifts and extending the working hours at the landfill. As a result of these initiatives, we expect to benefit from higher revenues and improved pricing in the second half of 2010, which should positively impact both our margins and overall profitability. We appreciate the strong support we have received from the HMUAB and we are proud to have the local government as our partner in improving China's environment.

As one of the largest landfill companies in Heilongjiang Province, Eastern Environment is extremely well positioned to capture market share in this highly fragmented market. We believe we can organically grow the business by bidding on new BOT contracts due to our long and successful track record. Additionally, we remain alert for accretive acquisition opportunities that leverage our core waste expertise and geographic focus. We believe the combination of increased landfill capacity, PET recycling, and our recent agreement with Veolia to convert the landfill gases into green energy and carbon credits will all translate into improved profitability for our shareholders.

(Source: Globe Newswire, 2010-05-18)
EESC
Waste & Water Treatment
SCORE
8
UNDER REVIEW
READ: Score Cards Explained
SAFETY/RISK SCORE
HIGH RISK
DETAILS: Safety/Risk Model for EESC
Current Price:  n/a
F10k Day (2007-06-27): -100.00%$1.89
2009 Close: -100.00%$0.70
2010 Close: -100.00%$1.90
2011 Close: -100.00%$0.12
High (2012-02-22): -100.00%$0.20
Low (2012-07-26): -100.00%$0.02
Exchange:
Market Capitalization: n/a
Total Shares: 14.97 mill
Float: n/a
Avg Volume: n/a
Last Quarter: 2010-12-31
Revenue (MRQ): 5.33 mill
Net Income (MRQ): 1.57 mill
Op. Cash Flow (MRQ): 2.27 mill
all financial data provided without warranty