Bell Micro issued a statement today revealing that the board of directors of the Nasdaq Stock Market has given the distributor until 17 March to become compliant with its filing requirements.
Until that time its common stock will continue to trade on the Nasdaq Global Market under the BELM symbol.
If after the given deadline, Bell has still not complied, it faces the prospect of its securities being suspended from trading at the opening of business on 19 March, and a form 25 being filed with the SEC to effect the delisting of the company's common stock.
The distributor is currently working with outside accounting consultants to review certain historical accounting practices, and in the same statement revealed that due to the scope of work being undertaken it will be "difficult to achieve compliance."
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