Ashton Technology Group (fka ASTN)

[MMMARY]

astn filing late

because of finance situation

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, or the transition report portion thereof, could not be filed within the prescribed time period.

The Registrant is renegotiating the terms of a financing arrangement which would provide necessary capital to its business operations. On June 19, 2001, the Registrant requested the withdrawal of a registration statement covering the resale of 7,450,000 shares of its common stock to be sold pursuant to an equity line financing arrangement entered into in February 2001. The withdrawal was requested to modify the structure of the equity line transaction in a manner that could not be achieved within the context of the registration statement as filed. The results of this renegotiation will require the Registrant to significantly change the classification of items in its financial statements and the notes related thereto, and the discussion of its liquidity and capital resources. These changes could not be made in time for the Registrant to file its Form 10-K on the prescribed due date without unreasonable effort or expense.



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Just say NO to stock fraud!