RINO International (RINO) Expected To Resume OTC Trading
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Shares of RINO International (Nasdaq: RINO), which have been halted for trading since 11/17/2010 and now delisted from the NASDAQ, are expected to begin trading tomorrow on the OTC Bulletin Board.
Indications are the company will retain the "RINO" symbol.
The stocks was halted in mid-November after a report from Muddy Waters, LLC stated that six contracts the company listed were false. The company later confirmed that at two of the contracts in question were not accurate and said financial statements can no longer be relied upon.
Because the company failed to responded the the NASDAQ's request for additional information, the NASDAQ moved to delist the security. The company did not appeal the NASDAQ staff's determination to delist the Company's common stock, only saying that it intends to re-apply for a listing on NASDAQ following an internal audit.
UPDATE: Here is a link to the OTCBB website showing the addition and effective date of 12/08.
Indications are the company will retain the "RINO" symbol.
The stocks was halted in mid-November after a report from Muddy Waters, LLC stated that six contracts the company listed were false. The company later confirmed that at two of the contracts in question were not accurate and said financial statements can no longer be relied upon.
Because the company failed to responded the the NASDAQ's request for additional information, the NASDAQ moved to delist the security. The company did not appeal the NASDAQ staff's determination to delist the Company's common stock, only saying that it intends to re-apply for a listing on NASDAQ following an internal audit.
UPDATE: Here is a link to the OTCBB website showing the addition and effective date of 12/08.
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