TORRANCE, Calif., Sept. 3 /PRNewswire/ — AcuNetx, Inc. (OTC
Bulletin Board:
ANTXE) today announced that it had received a communication
from the Financial Industry Regulatory Authority (FINRA) to the
effect that its Common Stock would be removed from quotation on the
OTC Bulletin Board on September 3, 2010.
The letter indicated that FINRA took the action because AcuNetx
has been delinquent in its filings under the Exchange Act three
times in the past two years, and NASD Rule 6530 provides for
removal from quotation in this instance. AcuNetx has the right to
appeal the decision, and is considering whether to file such an
appeal.
Robert S. Corrigan, President of AcuNetx, said, “We plan to
continue filing reports and financial statements with the SEC, and
we expect that our stock will continue to be quoted and traded in
the over-the counter market (Pink Sheets).” He added, “Accordingly,
we believe this action will not have any effect on our
shareholders, and should have no effect on the liquidity of our
Common Stock.”
Corrigan explained that AcuNetx had timely filed its 10-Q for
the quarter ended June 30, 2010. However, since AcuNetx had earlier
dismissed its independent certified public accountants and has not
engaged new accountants, the financial statements in the 10-Q were
not reviewed by outside accountants, as contemplated by SEC
accounting rules. FINRA took the position that, because of this,
the filing was deficient.
“We are actively interviewing accounting firms, and plan to
retain a new firm in the coming weeks,” said Corrigan. “Once
retained, we will ask the new accountants to review our current
10-Q filings and amend them if necessary.”
About AcuNetx, Inc.:
AcuNetx markets a diverse line of diagnostic, analytical and
therapeutic tools for medical (audiologists, neurologists,
otolaryngologists and physical therapists as well as
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