Shares of Trunkbow International Holdings Ltd. (NASDAQ: TBOW), a mobile application enabler providing telecom operators in China with application platforms on which to offer Mobile Value Added Solutions (MVAS) and Mobile Payment Solutions (MPS) to their subscribers, are soaring in trading today.
At last check, TBOW shares were trading 16.96% higher at $1.31 on above average volume of 108,079. The stock touched an intra-day high of $1.34 in trading today.
Last week, Trunkbow International announced that Holtz Rubenstein Reminick LLP, an independent registered public accounting firm, completed its review and audit of the company’s consolidated financial statements for the year ended December 31, 2009. The company has filed an altered 2010 annual report with the SEC, which includes Holtz Rubenstein Reminick’s audit report for the year ended December 31, 2009.
Qiang Li, CEO of Trunkbow, last week, said that with TBOW’s business positioned for substantial growth in the second half of this year, the company has placed a great emphasis on transparency and credibility to both its shareholders and U.S. regulators. Li said that he is pleased the re-audit was completed without the need for any restatements or financial adjustments.
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