SinoTech Energy has been informed that NASDAQ has temporarily halted trading in the Company's stock pending receipt from the company of certain additional information. The Company intends to work with NASDAQ to promptly provide NASDAQ with any information it requires, and hopes that the current trading halt will be lifted in the near future. SinoTech urges its investors to review and consider the Company's response to the allegations on alfredlittle.com before taking any action with respect to their ownership of the Company's securities.
We are outraged by this blatantly self-interested, mercenary attempt to profiteer at the expense of SinoTech and its shareholders. The alfredlittle.com report is riven with inaccuracies, fabrications and unsubstantiated allegations, and its conclusions are utterly without foundation. SinoTech has always been committed to upholding the best interests of our shareholders and we have therefore sought to make public as much information as possible as quickly as possible in order to make clear the fundamental mistruth of these allegations. We stand by the integrity of our company, our operations and our financial statements and are committed to protecting the welfare of our shareholders to any extent necessary.