WASHINGTON (dpa-AFX) - Advanced Battery Technologies Inc. (ABAT) announced that it received notice from The NASDAQ Stock Market LLC stating 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.
Advanced Battery Technologies said that 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 stated 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.
The notice states that, unless the Company files an appeal of the Staff's determination, trading in the Company's common stock will be suspended at the opening of business on November 30, 2011.
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