mlkrborn
13 years ago
AUTC $9.92 52 weeks low level volume 276 k
AutoChina International Limited Announces Receipt of Letter From the Listing Qualifications Department of Nasdaq
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AUTC 9.92 -4.20
Press Release Source: AutoChina International Limited On Monday September 12, 2011, 5:10 pm EDT
SHIJIAZHUANG, Hebei Province, China--(BUSINESS WIRE)-- AutoChina International Limited (“AutoChina” or the “Company”) (NASDAQ:AUTC - News), China’s largest commercial vehicle sales, servicing, leasing, and support network, today announced that on September 8, 2011, the Company received a letter from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“Nasdaq”) stating that based on the review of public documents and a plan of compliance provided by the Company, Nasdaq’s staff (the “Staff”) determined that providing the Company until December 31, 2011 to file its Annual Report on Form 20-F for the period ended December 31, 2010 was not warranted and that the Company’s securities would be delisted from Nasdaq on September 19, 2011 unless the Company appealed the determination. AutoChina intends to appeal the staff determination regarding the delisting of the Company’s securities.
Nasdaq cited the Company’s failure to file its periodic reports on a timely basis, including its Annual Report on Form 20-F for the year ended December 31, 2010, as required by Nasdaq Listing Rule 5250(c)(1), and the continued investigation by the SEC as the reason for its determination. The Company’s securities are expected to be suspended from trading 15 days after the Company appeals the delisting of the Company’s securities.
The Company is working closely with its advisors to seek all approACHES..
Fonzy35
13 years ago
Delisting from Nasdaq on September 19, 2011
From News:
AutoChina International Limited (“AutoChina” or the “Company”) (NASDAQ: AUTC), China’s largest commercial vehicle sales, servicing, leasing, and support network, today announced that on September 8, 2011, the Company received a letter from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“Nasdaq”) stating that based on the review of public documents and a plan of compliance provided by the Company, Nasdaq’s staff (the “Staff”) determined that providing the Company until December 31, 2011 to file its Annual Report on Form 20-F for the period ended December 31, 2010 was not warranted and that the Company’s securities would be delisted from Nasdaq on September 19, 2011 unless the Company appealed the determination. AutoChina intends to appeal the staff determination regarding the delisting of the Company’s securities.
ICEQUITY
14 years ago
$ AUTC AutoChina International Limited (AUTC) Description
From Wikipedia, the free encyclopedia
Beijing International Automotive Exhibition or Auto China (?????????) is an auto show held biennially in Beijing, China since 1990. It has now become one of three top auto shows in the world along with Frankfurt and Detroit. China is currently the largest and fastest growing auto market in the world.
http://en.wikipedia.org/wiki/Auto_China
AutoChina International Limited (AUTC) Description
"We believe we own and operate China’s largest commercial vehicle sales, servicing, leasing, and support network. Through our 178 store network, each of which is company-owned and operated, we offer a one-stop shopping experience for commercial vehicles and related services. We focus on leasing commercial vehicles, providing after-sales support and road-side assistance through our growing store network, and providing our customers with value-added services for them to successfully operate their vehicles.
Our product and service offerings are specifically designed to allow our customers to conveniently and affordably own and operate for-profit commercial vehicles. We manage the licensing and permitting process for our customers and our leasing program allows our customers to pay for a vehicle using installment payments. During the term of the lease, we remove the administrative burden of ownership from the customer so that they can focus on operating their vehicle and generating income. We also offer our customers optional value-added services to simplify and enhance their ownership experience, such as providing financing for tire and diesel fuel purchases. We feel that our high degree of specialization, our customized product and service offering, our growing store network, and our high customer service standards are very attractive to our commercial vehicle customers in China.
We have been able to expand quickly and efficiently due to our business model that is designed to be highly scalable. Since March 2008, when we started our commercial vehicle sales, servicing and leasing business, through February 28, 2010, we have opened 178 store branches and leased 9,848 commercial vehicles. This is possible because we do not carry inventory (we do not purchase vehicles until our customers make their initial down payment), our stores require only a small amount of capital to open, and there is a high degree of standardization across our business.
Since all of our store branches are company-owned, we are able to maintain strict control over process and procedures. Each of our stores is identical in a number of aspects such as look and feel, staffing requirements, support infrastructure, business processes, product and service offering, and pricing. We open our stores in close proximity to our target customers, which tends to be in rural areas where operating costs are relatively low compared to urban areas. We lease instead of own the real estate for our stores. We staff our stores with employees from the local area which is advantageous because these employees can leverage their familiarity with the local customer base. We provide all of our new employees with training from both our corporate headquarters and from existing stores to facilitate continued standardization of our business practices."
http://seekingalpha.com/symbol/autc/description
phunnibone
14 years ago
Pinksheets:
AUTC Security Details
Share Structure
Market Value1 $160,748,438 a/o Oct 18, 2010
Shares Outstanding 6,468,750 a/o Nov 14, 2008
Float N/A
Authorized Shares N/A
Par Value 0.0010
Shareholders
Shareholders of Record 34 a/o Apr 15, 2008
Beneficial Shareholders N/A
http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C156DIR10
Autochina International Limited Company Snapshot Business
Description:
AutoChina International Limited (AutoChina) is a holding company whose business operations are conducted through its wholly owned subsidiary, AutoChina Group Inc. (ACG). The Company owns and operates commercial vehicle sales, servicing, leasing and support network. Through its 178 store network, each of which is company-owned and operated, it offers a one-stop shopping for commercial vehicles and related services. On April 9, 2009, the Company acquired all of the outstanding securities of ACG. On December 14, 2009, it sold its automotive dealership business. ACG provides commercial vehicle sales, servicing and leasing business and also provides sales-type leasing services for customers to acquire commercial vehicles in China. ACG's commercial vehicle sales, servicing and leasing business is mainly operated by the Auto Kaiyuan Companies, which consists primarily of three companies: Kaiyuan Logistics, Kaiyuan Auto Trade and Hebei Xuhua Trading.
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