Sino Clean Energy announced that the company received a letter from the NASDAQ Stock Market which stated that the NASDAQ Staff has determined to delist the company's securities pursuant to its discretionary authority under Listing Rule 5101. The company strongly disagrees with NASDAQ's findings and intends to appeal the delisting determination by requesting an oral hearing in front of a NASDAQ panel for ruling on the fairness of a delisting decision. The company is evaluating its options in regards to the filing of second quarter financial results with the SEC and intends to update the market when matters are more definitively resolved.
Happy demi-anniversary, stock market rally. Will the honeymoon ever end?