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United States

NASDAQ warns AMSC over annual report

UNITED STATES: AMSC has been warned by NASDAQ over the failure to submit its annual results.

NASDAQ’s Listing Qualifications Department has informed AMSC that it no longer complies with its listing requirements.

AMSC was supposed to file its results for the 12 months preceding March 31 at the end of May. However, it failed to do this and has requested more time to put them together.

The company originally requested an additional 15 days from US Securities and Exchange Commission. This extension was granted and has now passed.

At the beginning of June, AMSC said it was still reviewing the impact of its dispute with its biggest customer Sinovel, after the latter refused to accept a shipment in April.

There is no immediate risk AMSC will be delisted from NASDAQ. In a statement, AMSC said it had until August 16 to regain compliance or show how it expects to do so.

 

 

 

 

 

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