Dhanoa Announces Move from OTCBB to Pink Sheets.TORONTO -- Dhanoa Minerals Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : DHNA DHNA Dublin Historic Neighborhood Association (Dublin, Georgia, USA) ) announced that beginning August 30, 2007, trading in the Company's common stock will occur in the Pink Sheets over-the-counter market over-the-counter market Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict. . Dhanoa was delayed in filing its Form 10-QSB quarterly report for the period ended June 30, 2007 due to the Company's inability to timely receive accounting and other financial information from its newly acquired mining subsidiary in South America. Further, under direction of Dhanoa's new management team, the Company improved its accounting practices and internal controls. These stricter controls required additional measures on behalf of the Company's subsidiary and accounting professionals which unfortunately also contributed to the delay in filing the Company's 10-QSB. Pursuant to NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). rule 6530(e), any OTCBB issuer that is delinquent in its reporting obligations three times in a 24 month period is ineligible for continued quotation on the OTCBB for a period of one year. "It took us an extra day to complete the 10-QSB to my satisfaction," said Mr. Lee Balak, President. "We regret that the filing was late, but the accuracy and completeness of our financial statements are important to us." The move from the OTCBB to the Pink Sheets will not affect Dhanoa's trading symbol or the ability to trade the Company's common stock. The Company plans to reapply Re`ap`ply´ v. t. & i. 1. To apply again. reapply vi → volver a presentarse, hacer or presentar una nueva solicitud to be listed on the OTCBB in one year. About Dhanoa Minerals Ltd. 'Dhanoa' is a production stage company formed to acquire, explore, and develop natural resource properties. Activities include gold production and sales, further development of the Company's business plan and raising capital. The Company has recently initiated a new program to evaluate undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. assets for potential addition to its mineral claim portfolio. |
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