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Share Name | Share Symbol | Market | Type |
---|---|---|---|
New Energy Systems Grp.. | AMEX:NEWN | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Nevada
|
001-34847
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20-2132336
|
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(State or Other Jurisdiction
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(Commission File Number)
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(IRS Employer
|
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of Incorporation)
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Identification No.)
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116 West 23rd St., 5th FL
New York, NY 10011
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(Address of Principal Executive Offices)
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1.
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The Company initially valued the stock components of the acquisition price of Anytone based on the average stock price of New Energy two days before and two days after the agreement date. The Company revised the stock price used to value the stock components of the acquisitions based on the guidance at FASB ASC 805-30-30-7 that is the stock price of New Energy at the acquisition date. Accordingly, the goodwill amount was changed as a result of revised acquisition price by using the stock price at the acquisition date.
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2.
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As a result of the change of goodwill, the additional paid-in capital changed accordingly.
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3.
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The Company initially presented equity-based compensation for stock issued to consultants for services not yet provided as a contra account in equity. The Company now recorded such prepaid compensation as an asset in the balance sheet according to FASB ASC 505-50.
|
1.
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The Company initially valued the stock components of the acquisition price of Anytone and Newpower based on the average stock price of New Energy two days before and two days after the agreement date. The Company revised the stock price used to value the stock components of the acquisitions based on the guidance at FASB ASC 805-30-30-7 that is the stock price of New Energy at the acquisition date. Accordingly, the goodwill amount was changed as a result of revised acquisition price by using the stock price at the acquisition date.
|
2.
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The Company initially presented equity-based compensation for stock issued to consultants for services not yet provided as a contra account in equity. The Company now recorded such prepaid compensation as an asset in the balance sheet according to FASB ASC 505-50.
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NEW ENERGY SYSTEMS GROUP
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Date: May 16, 2011
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By:
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/s/ Nian Chen
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Name: Nian Chen
|
||
Title: Chief Executive Officer
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1 Year New Energy Systems Grp.. Chart |
1 Month New Energy Systems Grp.. Chart |
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