ROCKVILLE, MD — On May 7, 2007, the Over The Counter Bulletin Board trading body, a securities trading organization like NASDAQ, removed SLS International, Inc. from its listings, no longer allowing it to be traded or quoted on their exchange. A call to the company confirmed this information. The OTCBB started the delisting procedure in April 4, 2007, when it delivered a Delinquency Notification from the National Association of Securities Dealers (NASD) stating that, because the SLS was delinquent with respect to the filing of its annual report on Form 10-K for the year ended December 31, 2006, the Company's common stock would be ineligible for quotation on the OTC Bulletin Board. While SLS was permitted to appeal the determination of delinquency, it did not.
In a Form 12b-25 filed on April 2, 2007, SLS disclosed that it would not meet the deadline for filing its 10-K due to its inability to pay its outside auditors the required fees to complete the audit of the SLS’ financial statements to be included in the 10-K.
