Last $0.01 USD
Change Today -0.019 / -65.52%
Volume 700.0
NEWN On Other Exchanges
Symbol
Exchange
OTC US
As of 12:17 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

new energy systems group (NEWN) Snapshot

Open
$0.03
Previous Close
$0.03
Day High
$0.03
Day Low
$0.01
52 Week High
03/21/14 - $0.15
52 Week Low
02/19/14 - $0.01
Market Cap
147.1K
Average Volume 10 Days
19.4K
EPS TTM
$-0.28
Shares Outstanding
14.7M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for NEW ENERGY SYSTEMS GROUP (NEWN)

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new energy systems group (NEWN) Details

New Energy Systems Group, through its subsidiaries, engages in the research, development, manufacture, and distribution of mobile power products, solar panels, and solar related products primarily in China. The company offers portable mobile power products primarily for use in portable consumer electronic devices, such as smartphones, laptops, digital cameras, digital camcorders, MP3 players, PMPs, PDAs, and PSPs. It markets its mobile power products directly through its distribution channels’ retail networks under the Anytone brand name in China, as well as through private labels internationally. The company also produces and markets solar panels and other solar-related products, such as solar lights, solar street lights, solar traffic lights, solar landscape lights, solar power system equipment, and other solar related application products to solar construction and installation companies. The company was formerly known as China Digital Communication Group and changed its name to New Energy Systems Group in November 2009. New Energy Systems Group was incorporated in 2001 and is headquartered in Shenzhen, China.

214 Employees
Last Reported Date: 04/2/12
Founded in 2001

new energy systems group (NEWN) Top Compensated Officers

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Executives, Board Directors

new energy systems group (NEWN) Key Developments

New Energy Systems Group Receives Non-Compliance Notice From NYSE MKT

New Energy Systems Group announced that the Company has received a written notice from NYSE MKT LLC on April 17, 2013, indicating that the Company was not incompliance with the Exchange’s continued listing criteria set forth in Section 134 and 1101 of the NYSE MKT LLC Company Guide due to the delay in filing the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. Sections 134 and 1101 of the Company Guide require the timely filing of such report with the Securities and Exchange Commission (the “SEC”). The Staff of the Exchange cites the Company’s failure to file its Annual Report within the extended due date has violated its listing agreement with the Exchange. In order to maintain its listing, the Company must submit a plan of compliance by May 1, 2013 (the “Plan”), addressing what action in details the Company has taken or will take to regain its compliance with Section 134 and 1101 of the Company Guide no later than July 16, 2013 (the “Plan Period”). If the Company does not submit a Plan, or the Plan is not accepted, the Company will be subject to delisting process. In addition, if the Plan is accepted, but the Company is not compliance with the continued listing standards of the Company Guide by July 16, 2013, or if the Company does not make progress consistent with the Plan during the Plan Period, the Exchange staff will initial delisting proceedings as appropriate. Because the Company notified the Exchange its intention to voluntarily withdraw its common stock from the Exchange on April 12, 2013, it does not intend to submit a plan of compliance.

New Energy Voluntarily Applies To Delist From NYSE

New Energy Systems announced that the company is voluntarily applying to delist from the NYSE and planning to list on the OTC pink market. This decision has been unanimously approved by the company's board. The company made this decision due to the following reasons: the company believes that the current US capital market is not suitable for small cap Chinese companies like New Energy. Although the company's performance has not been good recently, the company believes that the current stock price does not reflect the company's real value; under the current capital market situation, the company believes that costs to maintain its listing on the NYSE greatly outweigh the benefits of it; by saving significant listing costs, the company will have more funds to support its developing strategy.

New Energy Systems Group announced delayed annual 10-K filing

On 03/29/2013, New Energy Systems Group announced that they will be unable to file their next 10-K by the deadline required by the SEC.

 

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Price/Sales 0.0x
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Price/Cash Flow NM Not Meaningful
TEV/Sales NM Not Meaningful
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