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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 | - |
þ
|
|
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
|
TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Nevada
|
91-2132336
|
|
(State or other jurisdiction of incorporation or organization)
|
(IRS Employer identification No.)
|
Large accelerated filer | o | Accelerated filer | o |
Non-accelerated filer | o (Do not check if a smaller reporting company) | Smaller reporting company | þ |
|
|
Page
|
|||
|
PART I | ||||
Item 1.
|
Financial Statements
|
3 | |||
Item 2.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
26 | |||
Item 3.
|
Quantitative and Qualitative Disclosures About Market Risk
|
35 | |||
Item 4.
|
Controls and Procedures
|
35 | |||
|
PART II
|
||||
Item 1.
|
Legal Proceedings
|
36 | |||
Item 1A.
|
Risk Factors
|
36 | |||
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
36 | |||
Item 3.
|
Defaults Upon Senior Securities
|
36 | |||
Item 4.
|
Mine Safety Disclosures
|
36 | |||
Item 5.
|
Other Information
|
36 | |||
Item 6.
|
Exhibits
|
37 | |||
SIGNATURES
|
41 |
NEW ENERGY SYSTEMS GROUP AND SUBSIDIARIES
|
CONSOLIDATED BALANCE SHEETS
|
NEW ENERGY SYSTEMS GROUP AND SUBSIDIARIES
|
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
|
(UNAUDITED) |
NEW ENERGY SYSTEMS GROUP AND SUBSIDIARIES
|
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(UNAUDITED)
|
Nine Months Ended September 30,
|
||||||||
2012
|
2011
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Net loss
|
$ | (19,130,154 | ) | $ | (8,245,780 | ) | ||
Adjustments to reconcile net loss to net cash
provided by operating activities:
|
||||||||
Depreciation and amortization
|
1,618,413 | 2,328,860 | ||||||
Changes in deferred taxes
|
(1,911,410 | ) | (509,557 | ) | ||||
Deferred stock compensation
|
533,985 | 506,250 | ||||||
Stock options and warrant expense
|
29,534 | 33,828 | ||||||
Goodwill impairment
|
10,058,113 | 13,564,691 | ||||||
Patent impairment
|
6,086,840 | - | ||||||
(Increase) / decrease in current assets:
|
||||||||
Accounts receivable
|
2,477,524 | 755,306 | ||||||
Inventory
|
1,175,628 | (1,177,906 | ) | |||||
Prepaid expenses, deposits and other receivables
|
502,024 | (868,679 | ) | |||||
Increase/(decrease) in current liabilities:
|
||||||||
Accounts payable
|
(1,430,992 | ) | (1,736,844 | ) | ||||
Accrued expenses and other payables
|
55,738 | 193,518 | ||||||
Taxes payable
|
267,180 | (1,969,979 | ) | |||||
NET CASH PROVIDED BY OPERATING ACTIVITIES
|
332,423 | 2,873,708 | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Cash from sale of disposed subsidiaries
|
5,728,957 | - | ||||||
Acquisition of property and equipment
|
(189,964 | ) | (84,771 | ) | ||||
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES
|
5,538,993 | (84,771 | ) | |||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||
Repayment of acquisition liability for subsidiaries
|
- | (6,802,616 | ) | |||||
Cash from warrant exercise
|
- | 87,500 | ||||||
NET CASH USED IN FINANCING ACTIVITIES
|
- | (6,715,116 | ) | |||||
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND EQUIVALENTS
|
(50,630 | ) | 457,787 | |||||
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS
|
5,820,786 | (3,468,392 | ) | |||||
CASH AND EQUIVALENTS, BEGINNING OF PERIOD
|
4,528,731 | 13,065,008 | ||||||
CASH AND EQUIVALENTS, END OF PERIOD
|
$ | 10,349,517 | $ | 9,596,616 | ||||
SUPPLEMENTAL DISCLOSURES:
|
||||||||
Cash paid during the period for:
|
||||||||
Income taxes
|
$ | - | $ | 4,745,614 | ||||
Interest
|
$ | - | $ | - |
2012
|
2011
|
|||||||
Raw Materials
|
$
|
427,571
|
$
|
1,562,024
|
||||
Work-in-process
|
42,547
|
45,323
|
||||||
Finished goods
|
9,711
|
54,168
|
||||||
$
|
479,829
|
$
|
1,661,515
|
Furniture and Fixtures
|
5 years
|
|
Equipment
|
5 years
|
|
Computer Hardware and Software
|
5 years
|
|
Leasehold Improvement
|
1 year
|
2012
|
2011
|
|||||||
Machinery
|
$
|
303,517
|
$
|
297,992
|
||||
Office equipment
|
107,982
|
116,125
|
||||||
Leasehold improvement
|
189,244
|
-
|
||||||
Subtotal
|
600,743
|
414,117
|
||||||
Accumulated depreciation
|
(270,278
|
)
|
(205,846
|
)
|
||||
Plant and Equipment, net
|
$
|
330,465
|
$
|
208,271
|
Nine Months Ended
September 30,
|
||||||||
2012
|
2011
|
|||||||
Income (loss) from continuing operations
|
$
|
(19,130,154)
|
$
|
3,901,743
|
||||
Loss from discontinued operations
|
-
|
(12,147,523)
|
||||||
Net loss
|
$
|
(19,130,154)
|
$
|
(8,245,780)
|
||||
Weighted average shares outstanding - basic
|
14,595,600
|
14,381,065
|
||||||
Effect of dilutive securities:
|
||||||||
Preferred stock
|
-
|
167,397
|
||||||
Options issued
|
-
|
-
|
||||||
Weighted average shares outstanding – diluted
|
14,595,600
|
14,548,462
|
||||||
Income (loss) per share from continuing operations – basic
|
$
|
(1.31)
|
$
|
0.27
|
||||
Income (loss) per share from continuing operations – diluted
|
$
|
(1.31)
|
$
|
0.27
|
||||
Income (loss) per share from discontinued operations – basic
|
$
|
-
|
$
|
(0.84)
|
||||
Income (loss) per share from discontinued operations – diluted
|
$
|
-
|
$
|
(0.83)
|
||||
Net income (loss) per share – basic
|
$
|
(1.31)
|
$
|
(0.57)
|
||||
Net income (loss) per share – diluted
|
$
|
(1.31)
|
$
|
(0.57)
|
Three Months Ended
September 30,
|
||||||||
2012
|
2011
|
|||||||
Loss from continuing operations
|
$
|
(7,581,284)
|
$
|
(525,542)
|
||||
Loss from discontinued operations
|
-
|
(16,327,666)
|
||||||
Net loss
|
$
|
(7,581,284)
|
$
|
(16,853,208)
|
||||
Weighted average shares outstanding - basic
|
14,631,731
|
14,551,731
|
||||||
Weighted average shares outstanding – diluted
|
14,631,731
|
14,551,731
|
||||||
Income (loss) per share from continuing operations – basic
|
$
|
(0.52)
|
$
|
(0.04)
|
||||
Income (loss) per share from continuing operations – diluted
|
$
|
(0.52)
|
$
|
(0.04)
|
||||
Income (loss) per share from discontinued operations – basic
|
$
|
-
|
$
|
(1.12)
|
||||
Income (loss) per share from discontinued operations – diluted
|
$
|
-
|
$
|
(1.12)
|
||||
Net income (loss) per share – basic
|
$
|
(0.52)
|
$
|
(1.16)
|
||||
Net income (loss) per share – diluted
|
$
|
(0.52)
|
$
|
(1.16)
|
2012
|
2011
|
|||||||
Patents
|
$
|
15,167,497
|
$
|
15,167,497
|
||||
Accumulated amortization
|
(5,668,017
|
)
|
(4,115,587
|
)
|
||||
Less: impairment
|
(6,086,840
|
)
|
-
|
|||||
Intangible assets, net
|
$
|
3,412,640
|
$
|
11,051,910
|
2013
|
$
|
553,401
|
||
2014
|
553,401
|
|||
2015
|
553,401
|
|||
2016
|
553,401
|
|||
2017
|
553,401
|
|||
Thereafter
|
645,635
|
|||
Total
|
$
|
3,412,640
|
2012
|
2011
|
|||||||
Receivable for sale of discontinued operations
|
$
|
7,794,098
|
$
|
13,501,372
|
||||
Other receivables and deposits
|
48,402
|
48,837
|
||||||
Total
|
$
|
7,842,500
|
$
|
13,550,209
|
||||
Current | $ | 5,520,000 | $ | 5,520,000 | ||||
Noncurrent | $ | 2,322,500 | $ | 8,030,209 |
2012
|
2011
|
|||||||
VAT
|
$
|
38,698
|
$
|
-
|
||||
Other
|
32,706
|
21,103
|
||||||
Total
|
$
|
71,404
|
$
|
21,103
|
2012
|
2011
|
|||||||
Payable for expense reimbursement
|
$
|
662,708
|
$
|
540,653
|
||||
Payroll payables
|
151,230
|
201,484
|
||||||
Accrued expenses
|
59,132
|
76,315
|
||||||
Total
|
$
|
873,070
|
$
|
818,452
|
Number of Shares
|
||||
Outstanding at January 1, 2011
|
25,000
|
|||
Exercisable at January 1, 2011
|
12,500
|
|||
Granted
|
25,000
|
|||
Exercised
|
-
|
|||
Expired
|
-
|
|||
Outstanding at December 31, 2011
|
50,000
|
|||
Exercisable at December 31, 2011
|
37,500
|
|||
Granted
|
55,000
|
|||
Exercised
|
-
|
|||
Expired
|
-
|
|||
Outstanding at September 30, 2012
|
105,000
|
|||
Exercisable at September 30, 2012
|
77,500
|
Exercise Price
|
Total
Options
Outstanding
|
Weighted
Average
Remaining
Life
(Years)
|
Total
Weighted
Average
Exercise
Price
|
Options
Exercisable
|
Weighted
Average
Exercise
Price
|
|||||||||||||||||
$
|
6.55 - 0.58
|
105,000
|
1.98
|
$
|
2.61
|
77,500
|
$
|
3.33
|
Number of Shares
|
||||
Outstanding at January 1, 2011
|
236,000
|
|||
Exercisable at January 1, 2011
|
200,000
|
|||
Granted
|
36,000
|
|||
Exercised
|
(17,500)
|
|||
Expired
|
82,500
|
|||
Outstanding at December 31, 2011
|
172,000
|
|||
Exercisable at December 31, 2011
|
172,000
|
|||
Granted
|
-
|
|||
Exercised
|
-
|
|||
Expired
|
-
|
|||
Outstanding at September 30, 2012
|
172,000
|
|||
Exercisable at September 30, 2012
|
172,000
|
Exercise Price
|
Total
Warrants
Outstanding
|
Weighted
Average
Remaining
Life
(Years)
|
Total
Weighted
Average
Exercise
Price
|
Warrants
Exercisable
|
Weighted
Average
Exercise
Price
|
|||||||||||||||||
$
|
$5.00-$6.50
|
172,000
|
0.66
|
$
|
6.10
|
172,000
|
$
|
6.10
|
Nine Months Ended September 30,
|
Three Months Ended September 30,
|
|||||||||||||||
2012
|
2011
|
2012
|
2011
|
|||||||||||||
US statutory tax rates (benefit)
|
(34.0
|
)%
|
34.0
|
%
|
(34.0
|
)%
|
(34.0
|
)%
|
||||||||
Tax rate difference
|
8.5
|
%
|
(10.9
|
)%
|
8.7
|
%
|
4.1
|
%
|
||||||||
Effect of tax holiday
|
-
|
% |
(1.2
|
)%
|
-
|
% |
0.5
|
%
|
||||||||
Goodwill impairment
|
11.9
|
%
|
- |
%
|
4.4
|
%
|
- |
%
|
||||||||
Valuation allowance on deferred tax on US NOL
|
4.3
|
%
|
7.2
|
%
|
2.9
|
%
|
18.6
|
%
|
||||||||
Other benefit
|
(0.4
|
)%
|
(3.2
|
)%
|
||||||||||||
Tax expense (benefit) at actual rate
|
(9.3
|
)%
|
28.7
|
%
|
(18.0
|
)%
|
(14.0
|
)%
|
Nine Months Ended September 30,
|
Three Months Ended September 30,
|
|||||||||||||||
2012
|
2011
|
2012
|
2011
|
|||||||||||||
Major customer
|
18
|
%
|
-%
|
23
|
%
|
-%
|
Nine Months Ended September 30,
|
Three Months Ended September 30,
|
|||||||||||||||
2012
|
2011
|
2012
|
2011
|
|||||||||||||
Major vendor
|
15
|
%
|
-%
|
23
|
%
|
-%
|
Nine Months Ended September 30,
|
Three Months Ended September 30,
|
|||||||||||||||
2012
|
2011
|
2012
|
2011
|
|||||||||||||
Revenues from unaffiliated customers:
|
||||||||||||||||
Battery
|
$
|
6,687,091
|
$
|
13,657,611
|
$
|
1,698,783
|
$
|
1,703,729
|
||||||||
Solar panel
|
5,494,777
|
16,649,096
|
1,937,476
|
4,973,124
|
||||||||||||
Consolidated
|
$
|
12,181,868
|
$
|
30,306,707
|
$
|
3,636,259
|
$
|
6,676,853
|
||||||||
Operating income (loss):
|
||||||||||||||||
Battery
|
$
|
(8,334,416
|
)
|
$
|
3,764,641
|
$
|
(714,981
|
)
|
$
|
(399,780
|
) | |||||
Solar panel
|
(11,596,782
|
)
|
2,846,648
|
(471,548
|
)
|
117,964
|
||||||||||
Corporation
|
(1,191,300
|
)
|
(1,150,996
|
)
|
(345,952
|
)
|
(334,443
|
)
|
||||||||
Consolidated
|
$
|
(21,122,498
|
)
|
$
|
5,460,293
|
$
|
(9,257,338
|
)
|
$
|
(616,259
|
) | |||||
Net income (loss) from continuing operations:
|
||||||||||||||||
Battery
|
$
|
(6,271,885
|
)
|
$
|
2,885,947
|
$
|
961,061
|
$
|
(282,015
|
) | ||||||
Solar panel
|
(11,666,520
|
)
|
2,167,293
|
(471,441
|
)
|
91,082
|
||||||||||
Corporation
|
(1,191,749
|
)
|
(1,151,497
|
)
|
(346,047
|
)
|
(334,608
|
)
|
||||||||
Consolidated
|
$
|
(19,130,154
|
)
|
$
|
3,901,743
|
$
|
(7,581,284
|
)
|
$
|
(525,541
|
) | |||||
Depreciation and amortization:
|
||||||||||||||||
Battery
|
$
|
1,562,781
|
$
|
1,520,898
|
$
|
519,206
|
$
|
513,622
|
||||||||
Solar panel
|
55,632
|
21,535
|
39,714
|
7,378
|
||||||||||||
Consolidated
|
$
|
1,618,413
|
$
|
1,542,432
|
*
|
$
|
558,920
|
$
|
521,000
|
*
|
Cash
|
$
|
4,033,446
|
||
Accounts receivable
|
2,626,389
|
|||
Other receivable
|
24,156,003
|
|||
Inventory
|
518,457
|
|||
Taxes receivable
|
1,297,924
|
|||
Property and equipment, net
|
912,775
|
|||
Intangible assets, net
|
6,285,970
|
|||
Accounts payable
|
(861,597
|
)
|
||
Other payable and accrued expenses
|
(241,125
|
)
|
||
Deferred tax liability
|
(1,362,935
|
)
|
||
Disposal gain
|
292,067
|
|||
Selling price
|
$
|
37,657,374
|
2013
|
$
|
269,000
|
||
2014
|
67,260
|
|||
$
|
336,260
|
2012
|
% of Sales
|
2011
|
% of Sales
|
|||||||||||||
Net sales
|
||||||||||||||||
Battery
|
$
|
1,698,783
|
47
|
%
|
$
|
1,703,729
|
26
|
%
|
||||||||
Solar panel
|
1,937,476
|
53
|
%
|
4,973,124
|
74
|
%
|
||||||||||
Total sales
|
3,636,259
|
100
|
%
|
6,676,853
|
100
|
%
|
||||||||||
Cost of sales
|
||||||||||||||||
Battery
|
1,551,795
|
43
|
%
|
800,633
|
12
|
%
|
||||||||||
Solar panel
|
1,845,789
|
51
|
%
|
4,667,322
|
70
|
%
|
||||||||||
Total cost of sales
|
3,397,584
|
93
|
%
|
5,467,955
|
82
|
%
|
||||||||||
Gross profit
|
238,675
|
7
|
%
|
1,208,898
|
18
|
%
|
||||||||||
Operating expenses
|
||||||||||||||||
Selling
|
173,520
|
5
|
%
|
283,284
|
4
|
%
|
||||||||||
General and administrative
|
1,597,636
|
44
|
%
|
1,541,875
|
23
|
%
|
||||||||||
Impairment of goodwill and intangible assets
|
7,724,857
|
212
|
%
|
-
|
-
|
%
|
||||||||||
Total operating expenses
|
9,496,013
|
261
|
%
|
1,825,159
|
27
|
%
|
||||||||||
Loss from operations
|
(9,257,338
|
)
|
(255
|
)%
|
(616,261
|
) |
(9
|
)%
|
||||||||
Other income, net
|
8,801
|
0.24
|
%
|
5,450
|
0.08
|
%
|
||||||||||
Loss before income taxes
|
(9,248,537
|
)
|
(254
|
)%
|
(610,811
|
) |
(9
|
)%
|
||||||||
Income tax benefit
|
(1,667,253)
|
(46)
|
%
|
(85,269
|
)
|
(1
|
)%
|
|||||||||
Loss from continuing operations, net of tax
|
(7,581,284
|
)
|
(208
|
)%
|
(525,542)
|
) |
(8)
|
%
|
||||||||
Loss from discontinued operations, net of tax
|
-
|
-
|
%
|
(16,327,666
|
) |
(245
|
)%
|
|||||||||
Net loss
|
$
|
(7,581,284
|
)
|
(208
|
)%
|
$
|
(16,853,208
|
) |
(252
|
)%
|
2012
|
2011
|
|||||||
Cash provided by (used in):
|
||||||||
Operating Activities
|
$
|
332,423
|
$
|
2,873,708
|
||||
Investing Activities
|
5,538,993
|
(84,771)
|
||||||
Financing Activities
|
-
|
(6,715,116)
|
(a)
|
Exhibits
|
Exhibit No.
|
Title of Document |
Location
|
|||
2.1
|
Share Exchange Agreement, dated February 14, 2006, between us, UPE Limited (Far East), Shenzhen Zhuo Tong Power Supply Industry Co., Ltd., and the shareholders of UPE Limited |
Incorporated by reference as Exhibit 2.1 to Form 8-K filed February 21, 2006
|
|||
2.2
|
Amended and Restated Share Exchange Agreement, dated March 22, 2006, between us, Galaxy View International Ltd., Shenzhen Sono, and the shareholders of Galaxy View International Ltd. |
Incorporated by reference as Exhibit 2.1 to Form 8-K filed March 24, 2006
|
|||
2.3
|
Share Exchange Agreement and Plan or Reorganization |
Incorporated by reference as Exhibit 10.1 to Form 8-K filed September 29, 2004
|
|||
3.1.1
|
Articles of Incorporation |
Incorporated by reference as Exhibit 3(i)(1) to Form 8-K filed September 16, 2004
|
|||
3.1.2
|
Amendment to Articles of Incorporation |
Incorporated by reference as Exhibit 3(i)(2) to Form 8-K filed September 16, 2004
|
|||
3.1.3
|
Amendment to Articles of Incorporation |
Incorporated by reference as Exhibit 3(i)(3) to Form 8-K filed September 16, 2004
|
|||
3.1.4
|
Certificate of Designation of Series A Convertible Preferred Stock |
Incorporated by reference as Exhibit 3(i) to Form 8-K filed July 28, 2006
|
|||
3.1.5
|
Certificate of Amendment to Articles of Incorporation |
Incorporated by reference as Exhibit 3.1 to Form 8-K filed on November 19, 2009
|
|||
3.1.6
|
Amendment to the Certificate of Designations, Preferences and Rights of Series A Convertible Preferred Stock |
Incorporated by reference as Exhibit 3.1 to Form 8-K filed on October 21, 2010.
|
|||
3.2
|
Bylaws |
Incorporated by reference as Exhibit 3.4 to Form SB-2/A filed March 22, 2002
|
|||
4.1
|
Form of Stock Certificate |
Incorporated by reference as Exhibit 4.1 to Form SB-2/A filed March 22, 2002
|
|||
4.2
|
2004 Equity Incentive Plan |
Incorporated by reference as Exhibit 4.1 to Form S-8 filed March 2, 2004
|
|||
4.3
|
Form of Class A, B and C Warrants |
Incorporated by reference as Exhibit 4.3 to Form 10-KSB filed March 30, 2006
|
|||
4.4
|
Form of Subscription Agreement dated March 17, 2004 by and among Jasmine's Garden and the Investors |
Incorporated by reference as Exhibit 4.1 to Form 8-K filed March 22, 2004
|
4.5
|
2011 Equity Incentive Plan |
Incorporated by reference as Exhibit 21.1 to Form 10-K filed April 2, 2012
|
|||
10.1
|
Sales Contract dated April 21, 2005 between Shenzhan E'Jenine Science & Technology Co., LTD. and Shenzhen Gao Yi Electonics Co. LTD. |
Incorporated by reference as Exhibit 10.1 to Form 8-K filed April 22, 2005
|
|||
10.2
|
Sales Contract dated July 12, 2005 between Shenzhan E'Jenine Science & Technology Co., LTD. and Wuhan Jie Xin Communication Development Co., LTD. |
Incorporated by reference as Exhibit 2.1 to Form 8-K filed July 14, 2005
|
|||
10.3
|
Sales Contract dated December 31, 2005 between Shenzhan E'Jenine Science & Technology Co., LTD. and Yin Si Qi Electronics Co. |
Incorporated by reference as Exhibit 2.1 to Form 8-K filed January 6, 2006
|
|||
10.4
|
Loan Agreement dated March 10, 2006, between New Energy Systems Group and United Private Equity (The Pacific) Limited |
Incorporated by reference as Exhibit 2.1 to Form 8-K filed March 15, 2006
|
|||
10.5
|
Employment Agreement dated December 10, 2009 between New Energy Systems Group and Weihe Yu |
Incorporated by reference as Exhibit 21.1 to Form 10-K filed April 15, 2010
|
|||
10.6
|
Employment Agreement dated July 1, 2009 between New Energy Systems Group and Fushun Li |
Incorporated by reference as Exhibit 21.1 to Form 10-K filed April 15, 2010
|
|||
10.7
|
Employment Agreement dated September 1, 2009 between New Energy Systems Group and Junfeng Chen |
Incorporated by reference as Exhibit 21.1 to Form 10-K filed April 15, 2010
|
|||
10.8
|
Share Exchange Agreement, dated November 10, 2010, by and among Shenzhen Anytone Technology Co. Ltd, Shenzhen Kim Fai Solar Energy Technology Co., Ltd., and the Company. |
Incorporated by reference as Exhibit 10.1 to Form 8-K filed November 12, 2010
|
|||
10.9
|
Letter of Appointment, dated June 11, 2010, by and between Mr. Elan Yaish and the Company. |
Incorporated by reference as Exhibit 10.1 to Form 8-K filed June 17, 2010
|
|||
10.10
|
Lease Agreement, dated August 28, 2009, by and between Shenzhen Longgang District Tailian Industrial Development Co., Ltd. and Shenzhen NewPower Technology Co., Ltd. |
Incorporated by reference as Exhibit 10.10 to Form 10-K filed March 28, 2011
|
|||
10.11
|
Lease Agreement, dated January 1, 2009, by and between China Great wall calculator Shenzhen Co., Ltd. And Shenzhen Anytone Technology Co., Ltd. |
Incorporated by reference as Exhibit 10.11 to Form 10-K filed March 28, 2011
|
|||
10.12
|
2004 Equity Incentive Plan |
Incorporated by reference to the Registration Statement on Form S-8 filed on March 2, 2004
|
|||
10.13
|
China Digital Communication Group 2009 Equity Incentive Plan |
Incorporated by reference to the Registration Statement on Form S-8 filed on October 28, 2009
|
10.14
|
Employment Agreement, dated September 1, 2008, by and between Nian Chen and Shenzhen Anytone Technology Co., Ltd. |
Incorporated by reference as Exhibit 10.14 to Form 10-K filed March 28, 2011
|
|||
10.15
|
Lease Agreement, dated December 23, 2005, by and between Kim Fai |
Incorporated by reference as Exhibit 10.15 to Form 10-K filed March 28, 2011
|
|||
10.16
|
Branding Strategy Consulting Agreement, dated August 18, 2009, by and between the Company and Rui Wang, and amended pursuant to that certain Supplemental Agreement dated October 10, 2009
|
Incorporated by reference as Exhibit 10.15 to Form 10-K/A filed August 19, 2011
|
|||
10.17
|
Branding Strategy Consulting Agreement, dated August 18, 2009, by and between the Company and Qiong Xiong, and amended pursuant to that certain Supplemental Agreement dated October 10, 2009
|
Incorporated by reference as Exhibit 10.16 to Form 10-K/A filed August 19, 2011
|
|||
10.18
|
Financial Consulting Agreement, dated August 18, 2009, by and between the Company and Zhiyong Xu, and amended pursuant to that certain Supplemental Agreement dated October 10, 2009
|
Incorporated by reference as Exhibit 10.17 to Form 10-K/A filed August 19, 2011
|
|||
10.19
|
Financial Consulting Agreement, dated August 18, 2009, by and between the Company and Changsuo Li, and amended pursuant to that certain Supplemental Agreement dated October 10, 2009
|
Incorporated by reference as Exhibit 10.18 to Form 10-K/A filed August 19, 2011
|
|||
10.20
|
Financial Consulting Agreement, dated August 18, 2009, by and between the Company and Fang Gao, and amended pursuant to that certain Supplemental Agreement dated October 10, 2009
|
Incorporated by reference as Exhibit 10.19 to Form 10-K/A filed August 19, 2011
|
|||
10.21
|
Financial Consulting Agreement, dated August 18, 2009, by and between the Company and Xi Li, and amended pursuant to that certain Supplemental Agreement dated October 10, 2009
|
Incorporated by reference as Exhibit 10.20 to Form 10-K/A filed August 19, 2011
|
|||
10.22
|
Financial Consulting Agreement, dated August 18, 2009, by and between the Company and Shuang Yang, and amended pursuant to that certain Supplemental Agreement dated October 10, 2009
|
Incorporated by reference as Exhibit 10.21 to Form 10-K/A filed August 19, 2011
|
|||
10.23
|
Financial Consulting Agreement, dated August 18, 2009, by and between the Company and Jie Zhang and amended pursuant to that certain Supplemental Agreement dated October 10, 2009
|
Incorporated by reference as Exhibit 10.22 to Form 10-K/A filed August 19, 2011
|
|||
10.24
|
Loan Agreement between New Energy Systems Group and Chuangding Investment Consulting (Shenzhen) Co., Ltd., dated April 21, 2011.
|
Incorporated by reference as Exhibit 10.1 to Form 8-K filed April 26, 2011
|
|||
10.25
|
Security Agreement between New Energy Systems Group and Chuangding Investment Consulting (Shenzhen) Co., Ltd., dated April 21, 2011.
|
Incorporated by reference as Exhibit 10.2 to Form 8-K filed April 26, 2011
|
|||
10.26
|
Guarantee Letter with between New Energy Systems Group and Chuangding Investment Consulting (Shenzhen) Co., Ltd., dated April 21, 2011.
|
Incorporated by reference as Exhibit 10.3 to Form 8-K filed April 26, 2011
|
|||
10.27
|
Loan Agreement between New Energy Systems Group and Beijing Guojincheng Asset Management Co., Ltd., dated April 21, 2011.
|
Incorporated by reference as Exhibit 10.4 to Form 8-K filed April 26, 2011
|
|||
10.28
|
Security Agreement New Energy Systems Group and Beijing Guojincheng Asset Management Co., Ltd., dated April 21, 2011.
|
Incorporated by reference as Exhibit 10.5 to Form 8-K filed April 26, 2011
|
10.29
|
Guarantee Letter New Energy Systems Group and Beijing Guojincheng Asset Management Co., Ltd., dated April 21, 2011.
|
Incorporated by reference as Exhibit 10.6 to Form 8-K filed April 26, 2011
|
|||
10.30
|
Equity Transfer Agreement between New Energy Systems Group and Billion Electronics Limited (BVI), dated November 24, 2011.
|
Incorporated by reference as Exhibit 10.1 to Form 8-K filed November 30, 2011
|
|||
10.31
|
Security Agreement between New Energy Systems Group and Shenzhen E’Jenie Technology Development Co., Ltd., dated November 24, 2011.
|
Incorporated by reference as Exhibit 10.2 to Form 8-K filed November 30, 2011
|
|||
10.32
|
Guarantee Agreement made to New Energy Systems Group by Xuemei Fang, dated November 24, 2011.
|
Incorporated by reference as Exhibit 10.3 to Form 8-K filed November 30, 2011
|
|||
10.33
|
Guarantee Agreement made to New Energy Systems Group by Weirong Xu, dated November 24, 2011.
|
Incorporated by reference as Exhibit 10.4 to Form 8-K filed November 30, 2011
|
|||
14.1
|
Code of Ethics
|
Incorporated by reference as Exhibit 14.1 to Form 8-K filed June 17, 2010
|
|||
21.1
|
Subsidiaries
|
Incorporated by reference as Exhibit 21.1 to Form 10-K filed April 2, 2012
|
|||
Certification Required Under Section 302 of Sarbanes-Oxley Act of 2002.
|
Filed herewith
|
||||
Certification Required Under Section 302 of Sarbanes-Oxley Act of 2002.
|
Filed herewith
|
||||
Certification Required Under Section 906 of Sarbanes-Oxley Act of 2002.
|
Filed herewith
|
||||
Certification Required Under Section 302 of Sarbanes-Oxley Act of 2002.
|
Filed herewith
|
||||
101.INS
|
XBRL Instance Document.*
|
||||
101.SCH
|
XBRL Taxonomy Extension Schema.*
|
||||
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase.*
|
||||
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase.*
|
||||
101.LAB
|
XBRL Taxonomy Extension Label Linkbase.*
|
||||
101.PRE
|
XBRL Extension Presentation Linkbase.*
|
NEW ENERGY SYSTEMS GROUP | |||
Dated: November 14, 2012
|
By:
|
/s/ Weihe Yu | |
Name: Weihe Yu | |||
Title: Chief Executive Officer | |||
Dated: November 14, 2012 |
By:
|
/s/ Junfeng Chen | |
Name: Junfeng Chen | |||
Title: Chief Financial Officer |
1 Year New Energy Systems Grp.. Chart |
1 Month New Energy Systems Grp.. Chart |
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