Applied Digital Delisted, Faces Accounting Questions

from the sucks-to-be-chipped-by-them dept

Applied Digital Solutions, made famous for their publicity stunt "chipping" of a Florida family seems to be facing some problems. Nasdaq delisted them after they failed to file their last quarterly report in a timely manner. The company says it's all due to a misunderstanding over some accounting issues, and to prove it, they've gone through three different auditing firms - none of whom seemed willing to spin things the way Applied Digital was hoping they would. The company is also facing lawsuits from shareholders who said the company misled investors about the ability of hospitals to actually get any information off of the chip. I would imagine that the folks in Florida now have a fairly useless chunk of silicon embedded in their arms.