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Microcap & Penny Stocks : Phoenix resources technologies, selling at .10 book

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To: tony mendoza who wrote ()6/26/1996 2:33:00 PM
From: MJ Brouillette   of 20
 
This one bothers me a little. While doing some DD on
them, I found this...

Thursday April 25 4:06 PM EDT

Phoenix Resources ( prtie ) suspended

SCOTTSDALE, Ariz., April 25 (Reuter) - Phoenix Resources Technologies Inc said on Thursday it was suspended from listing by the NASDAQ Small
Cap national quote service and The Boston Stock Exchange because of a delay in filing its annual report.

According to a statement from Phoenix Resources, the NASDAQ Qualifications Committee cited "a significant possibility that the new auditor will not
be able to rely on the work product from the former auditor" as one of the reasons for its decision.

Pending an appeal to NASDAQ's Hearing Review Committee, the company's stock will continue to trade on the Over The Counter/Bulletin Board
market.
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