You know, they could just file the 10k and quite worrying about this.
PR Newswire and BusinessWire News
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Spongetech Delivery Systems Inc SPNGE:OTC Bulletin Board Market
SpongeTech(R) Delivery Systems, Inc. Receives Delisting Notification from FINRA and Requests Appeal Hearing BusinessWire 3:30 PM ET
SpongeTech(R) Delivery Systems, Inc. (the
"Company") "The Smarter Sponge(TM)", (OTCBB: SPNGE),
today announced that on September 25, 2009, the Company
received a letter from the Financial Industry Regulatory
Authority (FINRA) stating that, pursuant to NASD
Rule 6530, the Company is required to file with the
Securities and Exchange Commission its Annual Report
on Form 10-K for the year ended May 31, 2009 (the "Annual
Report") by no later than October 16, 2009. If the
Company does not comply with this requirement, the
Company's shares of common stock would not be
eligible for continued quotation on the OTC Bulletin Board.
The Company is requesting an appeal hearing with
FINRA regarding the determination of the Company's
security listing eligibility.
The Company
previously announced that the delay of its filing Form 10-K
for FY '09 was due to the Company's former auditor's
difficulties with the PCAOB (Public Company
Accounting Oversight Board). As a result, the
Company's financial statement for the 2008 fiscal year is
being re-audited and the financial statement for the
2009 fiscal year is being audited by the Company's
new auditing firm, Robison, Hill & Co. The Company
and its auditors are using their best efforts to complete
the audit and file the Annual Report by no later
than October 16, 2009.
After the
submission of the 10-K/A for fiscal 2008 and the 10-K for
fiscal 2009 year, Deliotte & Touche LLP will assume
responsibility for the audit of the Company's
financials beginning with the fiscal 2010 year that
began June 1, 2009.
About SpongeTech(R)
Delivery Systems, Inc.
AI
