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NEP halt trading

 

26
May, 2010
Original Post
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Can anybody share info about this stock trading is halted no news from the company getting realy worried.
3 vote(s)

4 Replies

  • May 26, 2010 at 3:32PM
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    Member log  jason+4 Member participation ranking in the ZeccoShare community sMember is sharing their portfolio

    irpage.net/cneh/Recent_News.html

    It looks as though they are being delayed due to the filling of their 10k. The link above should give you mor details.
    From what I see they are new to the NYSE and are not familiar with what is required for filling. Nothing bad just a delay.
  • May 26, 2010 at 3:32PM
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    Member log  lucasjkr Member participation ranking in the ZeccoShare community sMember is sharing their portfolio

    Looks like their filings for 2008 (8Q and 8K) need restating, and they have yet to file their 10-K for 2009. The 10-K is a listing requirement on AMEX, so they're in violation of listing requirments.

    Per their restatements, their net income for the period in question (all of 2008, and the first 3 quarters of 2009) is going to be $27 million less than they originally reported.

    So until they can file accurate information, their shares need to cease trading.
    3 vote(s)
  • May 26, 2010 at 3:47PM
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    Member log  ludy123 Member participation ranking in the ZeccoShare community

    thanks guys for the info. I hope this will resolve and start trading again losing a lot here.
  • May 26, 2010 at 7:32PM
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    Member log  lucasjkr Member participation ranking in the ZeccoShare community sMember is sharing their portfolio

    I was asked for a reference my post on NEP. I'll refer anyone interested to their quote page on yahoo, look at the recent news, two of their SEC filings.

    -------------------
    April 16 filing:
    -------------------
    Notice of delisting for failure to file their 10-K on a timely basis
    biz.yahoo.com/e/100416/nep8-k.html


    ------------------
    April 20 filing
    ------------------
    Notice that their financials for all of 2008 and the first 3 quarters of 2009 cannot be relied upon:
    biz.yahoo.com/e/100420/nep8-k_a.html

    Hope that's more clear. Generally if something big like that happens (a stock no longer trades), I'd recommend going to Yahoo, MSN, or any other provider to see if there is any recently released news indicating why.
    1 vote(s)

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