# Amex:nep



## Ethan (Aug 8, 2010)

Market cap of $75.16 million. 

Cash balance - $80.35 million.

No long-term debt. $37 million in total liabilities, most of which is AP and taxes payable.

Net income for the 6 months ended 06/30/2011 - $27.18 million. NEP has earned 36% of their market cap in the first 6 months of 2011!

I've never seen statistics like this. Here's their SEC filings, I'm basing my above numbers on their most recent 10-Q filing.

http://cneh.irpage.net/SEC_Filings.html

Share price has definitely been driven down as a result of frauds like Sino-Forest. NEP hasn't been helping themselves by having to restate their 2008 10-Qs and 10-K, as well as their 2009 10-Qs. A class action lawsuit was filed against the company however the lawsuit was recently dismissed:

http://www.prnewswire.com/news-rele...al-of-securities-class-actions-131582978.html

I know going into China is risky. However, based on their statements I think the price has room for significant improvement. I'm going to purchase some call options, and close my position if my gains get over 50%.


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## Ethan (Aug 8, 2010)

Update for full disclosure:

Put in a $0.40 bid for some 01/21/2012 $2.50 calls.


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## Ethan (Aug 8, 2010)

NEP was at $2.12 when I first posted. Currently trading at $2.56. Loving the options I picked up a week ago


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