Onstream Media Files 10-K Delay

Onstream Media Corp. (ONSM) just announced that the “company’s consolidated net loss for the year ended September 30, 2010 is expected to be approx. $4.1 million less than approx. $11.8 million consolidated net loss for the year ended September 30, 2009, before considering the impact of any additional adjustments for impairment of goodwill and intangible assets that may be considered necessary as of, and for the fourth quarter ending, September 30, 2010. Although the amounts of any additional adjustments have not yet been determined, because additional time is required to complete certain related valuations and projections, such additional adjustments are not expected to exceed the $4.1 million differential mentioned above.”

ONSM shares fell $0.03, or 3.84%, to $0.75 in extended trading. The shares, down 55 percent this year, dropped 3 cents to $0.72 earlier today on the NasdaqCM Exchange.

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About Ron Haruni 1068 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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