Solar EnerTech (SOEN)

[OCKHAM'S RAZOR]

Solar EnerTech's CEO, Leo Shi Young, explained, "As the Company's liquidity and financial position continues to be more and more challenging and certain outstanding obligations become due, we have retained FTI Consulting to help us assess our situation and develop a plan for maximizing the return to our stakeholders. Our Chief Restructuring Officer will enable us to focus efforts on pursuing the strategic options available to us while management can continue its focus on Company operations. In addition, we have carefully evaluated the advantages and disadvantages to the Company of continuing registration with the SEC, and in light of the costs and administrative burdens associated with being a public company, our board has determined that deregistering will result in significant cost reductions necessary given the Company's liquidity and financial position."