SinoTech to Respond to Allegations Made by Alfredlittle.com
SinoTech Energy Limited (Nasdaq:CTE - News) ("SinoTech" or the "Company"), a fast-growing provider of enhanced oil recovery ("EOR") services in China, today announced that it will issue a press release and hold an investor conference call in response to allegations made in a report posted on alfredlittle.com before the NASDAQ market opens for trading on August 17, 2011.
Alfredlittle.com, an acknowledged short seller of the Company's stock, made various allegations concerning the Company's business and the accuracy of the Company's prior statements. The Company is currently preparing a response to these unfounded allegations and intends to issue a press release and hold a conference call before the NASDAQ market opens for trading on August 17.
The Company has also been informed that NASDAQ has temporarily halted trading in the Company's stock pending receipt from the company of certain additional information. The Company intends to work with NASDAQ to promptly provide NASDAQ with any information it requires, and hopes that the current trading halt will be lifted in the near future.
T-12 Halt - Halt - Additional Information Requested by NASDAQ
Trading is halted pending receipt of additional information requested by NASDAQ.
Trading is halted pending receipt of additional information requested by NASDAQ.
