Fuqi International (FUQI) Will Delay its 10-Q – From Filing: As reported in the Registrant’s Current Report on Form 8-K and press release dated March 16, 2010, the Registrant has identified historical accounting errors in inventory and cost of sales that, based on its preliminary analysis, are expected to have an effect on its condensed consolidated financial statements for the fiscal quarters ended March 31, June 30 and September 30, 2009 contained in its Quarterly Reports on Form 10-Q. Because of the nature and timing of the review and analysis of these errors by the Registrant and their impact on its condensed consolidated financial statements, the Registrant has been unable to file its Annual Report on Form 10-K for the year ended December 31, 2009 by the prescribed due date and is unable to file its Quarterly Report on Form 10-Q for the three months ended March 31, 2010. The Registrant expects to complete its review and file the Quarterly Report on Form 10-Q as soon as possible; however, the Registrant does not anticipate filing the Form 10-Q by the fifth calendar day following the prescribed due date for such report.
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