The SEC could take this long to determine options backdating and the bribery allegations and more. Who knows at this time what has been going on with this co. We seem to get a new kick in the butt every few mos.
Looks like the stock options problem is not a problem at all. The recent SEC filings are not even an admission of guilt but just an accounting adjustment so that if the SEC decides the 2002 options were backdated, UTSI management would not have to pay excessive income taxes and penalties. The amounts involved are really small and will not have a significant effect on UTSI profits during that period. I don't think the SEC investigation of Hong Lu or of bribery charges will impact earnings in any way. So, hopefully, the SEC will rule on the stock options shortly and the company will be freed up to report Q3 financials and update stockholders on business activity. All indications are that things are really picking up nicely and the company should easily reach profitability sometime this year. Getting very boring on this board with so little to talk about. Have a nice day. Shadow