FILE PHOTO: A gold ingot and gold coins are seen in this illustration picture taken November 17, 2017. REUTERS/Eric Gaillard/Illustration - RC1A49177620/File Photo
The plunge means Kingold’s Nasdaq-traded shares have lost almost 60% of their value since a report in Chinese business media in June alleged it had obtained loans using fake gold bars as collateral. “The decision to delist from Nasdaq resulted from the board of directors’ review of numerous factors, particularly the cost and feasibility of ongoing compliance with the Nasdaq listing requirements and the company’s current financial condition,” Kingold said in a filing on Wednesday.
“As such, the company understands that it is likely Nasdaq will commence procedures to delist the company’s common stock,” Kingold said, adding that its board decided not to pursue an appeal and to delist voluntarily.
To cheat and rob stupid Americans is the strategy of CCP. This is only a tip of iceberg.
Sadly, fake gold is showing up everywhere, check out story about eBay and FAKE Double Eagles fro China...
🥳
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »