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

Editors Pick
Life expectancy at birth in the U.S. is already lower than most other developed nations and is now projected to fall further behind by 2030, according to a new study. It also suggests that by 2030, national female life expectancy in South Korea could break the 90 year barrier. Department store chain J.C. Penney Co. Inc. on Friday reported a turnaround to profit in the fourth quarter as a slight decline in sales was more than offset by lower expenses. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues slightly missed their estimates. Earlier today, J.C. Penny announced a plan to optimize its national retail operations. Google is planning to significantly expand a carpool service on its navigational app Waze, according to a report in the Wall Street Journal. The move indicates the company is edging closer to a potential clash with ride-hailing service Uber Technologies Inc.
comments powered by Disqus
Follow RTT