Xinhua Sports & Entertainment Limited ADS, Each Representing Two Class A Common Shares (MM) (XSELD) News

BEIJING, March 3, 2011 — Xinhua Sports & Entertainment Limited (NASDAQ: XSEL), (“XSEL” or the “Company”) today announced that, on February 25, 2011, the Company was notified by the Staff of the NASDAQ Stock Market LLC that the Staff has determined that the Company’s securities will be delisted from NASDAQ. Trading of the Company’s American Depositary Shares will be suspended at the opening of business on March 8, 2011. The Staff’s determination is based on the Company’s announcement on Form 6-K filed with the Securities and Exchange Commission on February 25, 2011 and associated public interest concerns raised by it, concerns regarding the residual equity interest of the existing listed securities holders, and concerns about the Company’s ability to sustain compliance with all requirements for continued listing on The Nasdaq Stock Market. On October 4, 2010, Staff also notified the Company that the Market Value of Publicly Held Shares of its American Depositary Shares had failed to maintain $15,000,000 for 30 consecutive trading days, and accordingly, that it did not comply with Listing Rule 5450(b)(2)(c).
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Finished exiting this morning.

Go baby go?
(anyone have a clue?)

Quick iBOX update.

Hey, thanks for the reply. I stumbled on it the other day by accident and it looked like our ESPN sort of. Caught my eye and thought I'd watch it.

God bless.

I got out. Too early too.

Chart -

http://stockcharts.com/h-sc/ui?s=XSEL&p=D&b=5&g=0&id=p12468719600

Just want to watch this up to the 18th R/S.
Just curious.

Maestro, if you're still in XSEL, what do you make of todays announcements? I'm still trying to absorb what the upside to the change will be other than the NASDAQ status. It looks like some large inside form t buys pre market as well.

People watch TV and they watch sports on TV. Whats not to like about XSEL?

Sports stay hot even in down times.

Most likely will be the next Nasdaq to jump.

Yes, it trades on the Nasdaq, in the sporting field and is trading very low.

Any thoughts or hope for this company?