Advanced Battery Technologies, Inc. Receives Delisting Notification From NASDAQ
Advanced Battery Technologies, Inc. (Nasdaq: ABAT) today announced that the Company received notice on November 21, from The NASDAQ Stock Market LLC that the Company has failed to satisfy the following NASDAQ Listing Rules:
Listing Rule 5250(a). The notice states that the Company failed to provide information requested by NASDAQ, specifically cash confirmations from the banks holding the Company's funds prepared in the presence of personnel employed by the Company's independent audit firm. Listing Rule 5250(c)(1). The notice states that the Company failed to file its Quarterly Report on Form 10-Q for the period ended September 30, 2011. In addition, the notice states that the Staff of The NASDAQ Stock Market LLC has determined to exercise its discretionary authority under Listing Rule 5101 to delist the Company's common stock based upon public interest concerns raised by the Company's deliberate refusal to provide the requested bank confirmations.
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