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| IAO > SEC Filings for IAO > Form 8-K on 19-Aug-2009 | All Recent SEC Filings |
19-Aug-2009
Results of Operations and Financial Condition, Notice of Delisting or Failure to Sa
IA Global Inc. (the "Company") announced that it would not be able to file its Form 10-Q for the three months ended June 30, 2009 as required by August 19, 2009. This delay is due to the late filing of its Form 10-K, which the Company expects to file on August 21-28, 2009, and the late and incomplete receipt of June 30, 2009 financial records for Global Hotline and Taicom Securities Co Ltd. The Company expects to file the Form 10-Q on approximately September 3, 2009.
Preliminary Results for the Three Months Ended June 30, 2009
Preliminary results for the three months ended June 30, 2009, before any potential audit adjustments related to the filing of the Form 10-K for the twelve months ended March 31, 2009, are as follows:
Total assets- $29-$33 million as of June 30, 2009
Total liabilities- $26-$27 million as of June 30, 2009
Total stockholder equity- $3-$6 million as of June 30, 2009
Sales- $11-$13 million for the three months ended June 30, 2009
Net loss- $1-$2 million for the three months ended June 30, 2009
Additional details will be provided with the filing of the Form 10-Q for the three months ending June 30, 2009. The financial results are subject to adjustment.
The Company received a Deficiency Letter from the NYSE AMEX Stock Exchange dated August 19, 2009. In this letter, Staff has now determined that the Company has not filed its Form 10-Q for the three months ended June 30, 2009. The timely filing of this report is a condition of the Company's continuing listing on the Exchange, as required by Sections 134 and 1101 of the Exchanges Company Guide. In addition, the Company's failure to file this report is a material violation of its listing agreement with the Exchange. Pursuant to 1003(d) of the Company Guide, the Exchange is authorized to suspend, and unless prompt corrective action is taken, remove the Company's security from the Exchange.
The Company submitted a plan to the Exchange on August 4, 2009 and expects to bring the Company in compliance with Sections 134 and 1101 of the Exchanges Company Guide by October 12, 2009.
(a) Financial statements of business acquired - None.
(b) Pro Forma financial information - None.
(d) Exhibits -
Exhibit No. Description
99.1 IA Global, Inc. press release dated August 19, 2009.
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