Attached files
| file | filename |
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| EX-99.1 - Orsus Xelent Technologies Inc | v198778_ex99-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported) October 6, 2010
ORSUS
XELENT TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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001-33456
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20-1198142
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(State
or other
jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
|
29th
Floor, Tower B, Chaowai MEN Office Building
26
Chaowai Street, Chaoyang Disc.
Beijing,
People's Republic Of
China
100020
(Address
of principal executive offices)
86-10-85653777
(Registrant's
telephone number, including area code)
(Former
name or former address if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General
Instruction A.2. below):
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
3.01 Notice of Delisting or
Failure to Satisfy a Continued Listing Rule or Standard; Transfer of
Listing.
On October 6, 2010, Orsus Xelent
Technologies, Inc. (the “Company”) received a letter from NYSE Amex LLC (the
“Exchange”) indicating that, due to its low selling price, the Company's common
stock may not be suitable for auction market trading. The Exchange also notified
the Company, in accordance with Section 1003(f)(v) of the Exchange’s Company
Guide, that it deems it appropriate under the
circumstances for the Company to effect a reverse stock split to address its low
selling price. If the Company fails to affect the reverse split or other action
to address its low selling price within a reasonable time after receiving the
letter, the Exchange may consider suspending dealings in, or removing from the
list, the Company's common stock. In that event, the Company would become
subject to the procedures and requirements of Section 1009 of the Company Guide,
which could, among other things, result in the Exchange initiating delisting
proceedings.
The Company intends to comply with
the letter and will timely submit a plan of compliance to the Exchange which may
include a reverse stock split.
7.01 Regulation FD Disclosure
On October 12, 2010, the Company issued
a press release with respect to the notification. A copy of the press
release is attached hereto as Exhibit
99.1.
The information contained in this Item
7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall
not be deemed to be “filed” for the purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to
the liabilities of that Section, nor shall it be incorporated by reference into
a filing under the Securities Act of 1933, or the Exchange Act, except as shall
be expressly set forth by specific reference in such a filing.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press
Release of Orsus Xelent Technologies, Inc., dated October 12,
2010.
- 2
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: October
12, 2010
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ORSUS
XELENT TECHNOLOGIES, INC.
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By:
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/s/ Hua Chen
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Name:
Hua Chen
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Title:
Chief Financial Officer
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- 3
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EXHIBIT
INDEX
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Exhibit
Number
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Description
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99.1
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Press
Release of Orsus Xelent Technologies, Inc., dated October 12,
2010
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