LAN technology again received a warning from the Nasdaq market side

Summary: Check the latest quotes Beijing time, October 2 Evening News, LAN-Tech (Nasdaq:mont) announced today, has received a notice from the Nasdaq market party on October 1 mail. 5250 (c) (1) To view the latest quotes because it failed to meet the requirements of the NASDAQ listing clause, the Mail said

Beijing Time October 2 Evening News, LAN-Tech (Nasdaq:mont) announced today, on October 1 received a notice from the Nasdaq market party. The 5250 (c) (1), which failed to meet the requirements of the NASDAQ listing clause, said that the technology stocks would be delisted by Nasdaq unless the LAN-tech panel was required to hold hearings on the NASDAQ Listing Eligibility Committee (NLQP) before October 8, 2014.

Unable to submit the 10-q form to the Securities and Exchange Commission (SEC) as at June 30, 2014, LAN-Tech has received a delisting warning from the Nasdaq market this August.

The technology was disclosed on August 14 in the 12b-25 form (delayed submission of documents), and the 10-q form could not be submitted until the company Audit Committee completed its assessment of the allegations in the Gravity Research report and completed its assessment of the company's earnings as at June 30, 2014.

According to the postponement of the application, LAN-tech can take measures before September 29 to meet the listing conditions again.

After receiving the October 1 warning notice, LAN-Tech can request the Nasdaq Listing Qualification Committee to hold hearings within 7 days. In the 15 days after receiving the hearing request, the LAN-tech stocks can continue to be traded on the Nasdaq. In addition, the Nasdaq has the right to suspend its bid for the technology stock of the LAN before it makes a decision.

If a hearing is required, the LAN technology is likely to request more time at the hearing to complete the 10-q form. Under the Nasdaq listing rules, the Board will not be able to give the LAN more than 360 days (from the initial time of default) to the technology. Of course, there is no guarantee that the listing committee will give the LAN more time for technology. (Li Ming)