logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Billionaire entrepreneur Elon Musk on Thursday showed off his concept for the Loop, a high-speed underground public transportation system that will carry up to 16 people and travel at 150 miles per hour. At the Boring Company Information Session, Musk and project leader Steve Davis provided details of the underground mass transit tunnels that the Boring Co. plans to build beneath Los Angeles. Raden has become the second smart luggage company to shut down this month after major U.S. airlines banned smart luggage with non-removable batteries earlier this year. In a statement on its website, Raden said that it is no longer in operation and that all existing shipments have been processed for delivery. The company is shuttering after three years of operation. Shares of AstraZeneca were losing around 2 percent in the London trading after the British drug major reported Friday lower profit in its first quarter amid weak margin, despite growth in product sales. Further, the company reiterated its outlook for fiscal 2018. The level of Externalisation Revenue, divestment timing and investment in launches impacted the overall results.
Follow RTT