logo
Share SHARE
FONT-SIZE Plus   Neg

ZST Digital Networks To Delist From Nasdaq

ZST Digital Networks, Inc. (ZSTN) said Friday that its Board of Directors has decided to seek a voluntary delisting from the NASDAQ Global Market in view of the company's inability to continue to comply with the NASDAQ's continued listing requirements of making filings with the SEC on a timely basis.

BDO China Dahua CPA Co., Ltd. had previously informed ZST of its decision to resign as the company's independent registered public accounting firm, effective March 26. In addition, BDO had informed the company that BDO can no longer support its opinion dated March 3, 2011 relating to its audit of the company's consolidated financial statements for the year ended December 31, 2010 contained in its Form 10-K filed with the SEC on March 4, 2011. As a result, the company anticipates that it will be unable to file its annual report on Form 10-K for the fiscal year ended December 31, 2011 on a timely basis.

The company said it plans to file a Form 25 with the SEC on or about April 16, anticipates that the delisting of its common stock will become effective on or about April 26.

The company expects that its common stock will be eligible for trading on the over-the-counter market thereafter.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Volkswagen plans to invest about 22.8 billion euros in its core brand from 2018 to 2022, with main focus on e-mobility and modularization. In a statement on Saturday, the German automaker announced that the investments, as part of the brand's Transform 2025+ strategy, will significantly boost the brand's largest product and technology offensive. Health IQ Insurance Services, a startup focused on providing life insurance for health-conscious individuals, said it has secured $34.6 million in Series C funding, led by Andreessen Horowitz. To date, the company has raised a total of $81 million in funding mostly from its existing investors. General Motors Co. is recalling nearly 49,000 trucks worldwide to fix a fuel tank issue that can increase the risk of a fire. The recall covers Chevrolet Silverado 3500 and GMC Sierra 3500 trucks from the 2011 through 2015 model years, all equipped with dual fuel tanks.
comments powered by Disqus
Follow RTT