China Integrated Energy, Inc. (fka CBEH)

[flyondewall]

http://seekingalpha.com/article/1866081-cash-and-catalysts-could-drive-cbeh-well-above-3-00



Cash And Catalysts Could Drive CBEH Well Above $3.00


Nov 27 2013, 10:11 | 6 comments | about: CBEH



















Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)

Recently there have been several Chinese companies that rallied strongly as sentiment improves for Chinese listed equities.

In this favorable environment, China Integrated Energy (OTCPK:CBEH) is poised for a strong move when it releases its re-audited financials.

CBEH has shareholder friendly management and more attractive fundamentals then several of these companies that have rallied. There is a substantial short interest of 868,218 shares which could create a short squeeze which makes for an even more interesting speculative long position at these levels.

Release of Audited Financials a Major Catalyst

In April 2011 KPMG terminated its relationship with CBEH and retracted its 2010 audit opinion when CBEH was attacked by short seller reports. Since that time investors have largely been in the dark with respect to CBEH's financials aside from the release of updated 2011 guidance of $41 million net income ($0.94 EPS).

On May 3, 2013 CBEH announced that it engaged RBMS LLP as its auditor. The company should be close to releasing audited results any time since the audit started over six months ago. Chat groups have speculated results are due soon and the share price has started to creep higher in anticipation of the results.

By putting pieces together from publicly available information it appears that CBEH's net cash per share may be greater than $3.00 which is significantly higher than its current price of $0.55.

CBEH Summary Financial Data


Net cash


Date

per share

EPS


12/31/10

2.08

1.23

Last reported


12/31/11

3.11

0.87

Estimate


12/31/12

3.68

0.80

Estimate


09/30/13

4.11

0.80

Estimate