ChinaNet Online (CNET) Won't File 2013 10-K on Time; Cites Hospitalization of COO Chu

On March 31, 2014, ChinaNet Online Holdings, Inc. (Nasdaq: CNET) filed a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission (the “SEC”) with regard to its Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (the “2013 Form 10-K”), indicating that the Company would not be able to file the 2013 Form 10-K within the prescribed time period, and that the 2013 Form 10-K would be filed on or before the fifteenth calendar day following the prescribed due date.

On April 15, 2014, the Company determined that it would not be able to file the 2013 Form 10-K by April 15, 2014 due to the fact that management of the Company was unable to timely finalize the Company's financial statements, footnotes and related disclosures without assistance and supervision of Mr. George Chu, the Company’s Chief Operating Officer who has been hospitalized. The Company is working diligently to complete the 2013 Form 10-K and will file it as soon as practicable.

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