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HSOA goes to the pinks today...

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Flatsixer   Monday, 01/07/08 06:58:13 AM
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HSOA goes to the pinks today...

"Home Solutions of America (OTC: HSOA), a provider of restoration, construction and interior services to commercial and residential customers, said late Friday that it will withdraw its appeal to remain listed on the Nasdaq and that it expects its common stock to start trading on the Pink Sheets on Monday.

The company has been unable to file its third quarter financial statements for the period ended September 30, 2007 due to an ongoing investigation into related party transactions. The decision to delist, while disappointing to investors, could allow the company the opportunity time to complete its investigation without pressure from the Nasdaq to file its statements.

Of course, until the financials are filed and the company' collects on the receivables guaranteed by FIGA, it is impossible to determine what the business looks like, or whether HSOA has the ability to fund operations. Investors might want to consider that there was a pre-existing, albeit much smaller business, prior to the acquisition of Fireline. Shares ended the week at .95"





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