Last $0.02 USD
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As of 8:10 PM 06/6/14 All times are local (Market data is delayed by at least 15 minutes).

lizhan environmental corp (LZENF) Snapshot

Open
$0.02
Previous Close
$0.02
Day High
$0.02
Day Low
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52 Week High
09/5/13 - $0.23
52 Week Low
10/21/13 - $0.0021
Market Cap
272.9K
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
13.6M
EX-Date
--
P/E TM
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Dividend
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Dividend Yield
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Current Stock Chart for LIZHAN ENVIRONMENTAL CORP (LZENF)

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lizhan environmental corp (LZENF) Details

Lizhan Environmental Corporation, through its subsidiaries, engages in the manufacture, distribution, marketing, and export of synthetic leather and other fabrics from leather scrap products and other materials in the People’s Republic of China. It offers various synthetic leather fabric products, including ultrasuede products, recycled leather flocked fabrics, microfiber towel fabrics, tufted fabrics, and colgre products, as well as other fabrics consisting of flocking powder, suede fabrics, short hair velvets, and beehive punched cotton. The company is also involved in research and development related to the production of synthetic leather. Its products are used in various consumer applications, including residential and office furniture, garments, and automotive upholstery products. The company sells its products primarily to furniture manufacturers, as well as to fabric distributors. It exports its products to the United States, Nicaragua, Germany, Belgium, France, and South Korea. The company was founded in 2005 and is headquartered in Tongxiang, the People’s Republic of China.

515 Employees
Last Reported Date: 04/23/12
Founded in 2005

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lizhan environmental corp (LZENF) Key Developments

Lizhan Environmental Corp.(OTCPK:LZEN.F) dropped from NASDAQ Composite Index

Lizhan Environmental Corp. will be removed from NASDAQ Composite Index

Lizhan Environmental Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 31, 2012

Lizhan Environmental Corp. reported unaudited consolidated earnings results for the second quarter and six months ended March 31, 2012. For the quarter, the company reported net loss attributable to the stockholders was $1,097,397 or $0.08 per basic and diluted share on net sales of $5,272,067 compared to net loss attributable to the stockholders was $348,662 or $0.03 per basic and diluted share on net sales of $5,909,781 a year ago. Operating loss was $679,093 compared to $394,955 a year ago. Loss before income taxes was $1,158,600 compared to $387,915 a year ago. Lizhan incurred a $1,100,000 loss attributable to common shareholders due to lower sales and higher expenses. For the six months, the company reported net loss attributable to the stockholders was $2,491,723 or $0.18 per basic and diluted share on net sales of $12,826,312 compared to net income attributable to the stockholders was $1,889,624 or $0.15 per basic and diluted share on net sales of $16,718,332 a year ago. Operating loss was $1,921,028 compared to operating income was $1,717,729 a year ago. Loss before income taxes was $1,158,600 compared to $387,915 a year ago. Loss before income taxes was $2,652,835 compared to income before income taxes was $2,142,830 a year ago. Net cash used in operating activities was $778,420 compared to $5,699,765 a year ago. Payment for purchase of plant and equipment was $1,301,409 compared to $6,631,702 a year ago.

Lizhan Environmental Announces To Voluntarily Delist From NASDAQ

Lizhan Environmental Corp. announced that it has notified the NASDAQ Stock Market (NASDAQ) of its intention to voluntarily delist from NASDAQ. On April 12, 2012, the company received a notification from the NASDAQ stating Lizhan had been given a period of 180 calendar days, or until October 15, 2012, to regain compliance with NASDAQ's Listing Rule 5500(a)(2), which requires that the bid price of a common share listed on The NASDAQ Capital Market close at a minimum of $1.00 per share. The decision to voluntarily delist from NASDAQ was taken following the company's Board of Directors detailed review of numerous factors, including among other things its inability to meet the minimum $1.00 price per share requirement, the applicable NASDAQ rules and regulations, Rule 12d2-2(c) of the Securities Exchange Act of 1934, as amended, the significant compliance obligations and restrictions that result from the maintenance of the listing on NASDAQ and the company's current financial condition. Based on these factors, the company no longer sees sufficient value in maintaining its listing on NASDAQ. The company intends to file a Form 25 with the U.S. Securities Exchange Commission on October 15, 2012 to commence the NASDAQ delisting process. It is expected that the delisting will take effect as of the close of trading in New York on October 25, 2012. Following delisting, Lizhan's common stock will no longer trade on the NASDAQ Capital Market. The company's common stock will continue to be traded on the OTC Pink Sheets. Additionally, the company will seek to commence trading on the OTCQB or OTCQX as soon as practicable. However, there can be no assurance that a market for the company's shares will develop.

 

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