American Oriental Bioengineering, Inc. (AOB) on Friday said the New York Stock Exchange has notified the company that it is not in compliance with NYSE rules due to the company's failure to timely file its Annual Report on Form 10-K with the Securities and Exchange Commission.
The company had said earlier that the annual audit of its financial statements for 2011 showed some inconsistencies and the audit committee has commenced an independent investigation into those matters.
Under NYSE rules, when a company does not comply with annual report filing requirements, the exchange allows a company an additional six months to file its annual report in order to regain compliance. In the case of the company, the annual report would be due on or before October 29.
by RTT Staff Writer
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