NEW YORK (Thomson Financial) - Grand Toys International Ltd. said it can't
file its 2007 annual report on time because it is in the process of liquidating
its Hua Yang Printing Holdings subsidiary. The company said financial statements
for Hua Yang are not available since it has filed a "winding up" petition with
the High Court of Hong Kong.
The company said it doesn't know when it will be able to file its annual
report
Separately, Grand Toys said the exclusive period for a potential buyer of
its International Playthings subsidiary to make a binding offer has been
terminated.
The Hong Kong toy products maker said it will enter into non-exclusive
discussions with a number of potential acquirers.
The stock closed Thursday at 47 cents.
Tomi Kilgore
tk1
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