SNEN should move up BIG. To restate 2006 income UP by 45%!
Get the Westminster Securities report on SNEN. I'd post it here, but it is copy-protected. The report is free though, or you can email me at ChinaMart@TampaBay.rr.com and I'll send you a copy.
Anyway, SNEN reported audited income of .24/share for 2006, when they actually booked .35/share, a 45% increase.
This was apparently due to an accounting-related charge (that wasn't supposed to count against their net income, but in their original filing, it mistakenly did).
They also state: "full details of these restatements are not yet publicly available".
This 45% increase in income in 2006 should cause SNEN move up fast and furious when it's made public in a PR.
Based on .35/share income, at a PE of just 15, SNEN should easily be trading at over $5/share here.
