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Author: jimmy

Stock Trading suspended due to delinquent in Financial Statement filing.

On September 17, 2018, the U.S. Securities and Exchange Commission (“Commission”) announced the temporary suspension of trading in the securities of the Company, commencing at 9:30 a.m. EDT on September 18, 2018 and terminating at 11:59 p.m. EDT on October 1, 2018. The Commission temporarily suspended trading in the securities of the Company due to a lack of current and accurate information about the Company because it has not filed certain periodic reports with the Commission. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (“Exchange Act”) and was accompanied by an Order Instituting Administrative Proceedings and Notice of Hearing (the “Proceeding”) pursuant to Section 12(j) of the Exchange Act. The stated purpose of the order and hearing is for the Commission to determine whether it is necessary and appropriate to continue the suspension in the trading of the securities of the Company for a period not exceeding twelve months, or to revoke the registration of the Company’s securities pursuant to Section 12 of the Exchange Act. The Company filed an Answer in the Proceeding on September 26, 2018.

On October 18, 2018, the Company had a pre-hearing telephone conference with the Commission regarding the Proceeding. During the pre-hearing conference, it was agreed that the Commission’s motion for summary disposition against the Company would be due on November 15, 2018; the Company’s opposition brief would be due on December 13, 2018; and that the Commission’s reply brief would be due on December 20, 2018. The Commission has offered the Company the alternative to consent to the revocation of the registration of the Company’s securities pursuant to Section 12 of the Exchange Act to avoid the time and cost associated with contesting the Proceeding. If the Company were to consent to the revocation of its registration, the Company would then need to file a registration statement (with two years of audited financials) with the Commission and cause that registration statement to become effective in order to reinstate the registration of the Company’s securities. It is the Company’s understanding from the pre-hearing conference with the Commission that the only remedy the Commission has for delinquent filers such as the Company, even if the filer becomes current by the date of the hearing, is the revocation of the registration of the Company’s securities pursuant to Section 12 of the Exchange Act. Therefore, the Company cannot provide any assurances that it will be able to avoid the revocation of the registration of the Company’s securities pursuant to Section 12 of the Exchange Act due to the Company becoming delinquent in its filings. If the registration of the Company’s securities is revoked, the Company intends to file a registration statement with the Commission to reinstate the registration of the Company’s securities. The Company cannot provide any assurances as to the timing of the filing and effectiveness of such a registration statement.

 

ColorStars Group (CSTU) Annouces Street Light Project Award

ColorStars Group (CSTU) together with its subsidiary Anteya Technologies were awarded a street lighting project in Taiwan. The project is to retrofit a 9 kilometers long with new LED street lighting system in the township of Yangmey of Taoyuang County. A total of 574 LED street lights will be installed and each street light is composed of 2 pieces of 120-Watt cobra head LED street lights and 2 pieces of 30-Watt reflective LED spot lights. The total value of the project is $45,172,600 New Taiwan Dollars or $1.5 million US Dollars. ColorStar scope of supply is about US$1.0 million. The project will be completed in the forth quarter of 2014.  

ColorStars to Exhibit at Light Fair International (LFI 2014) at Las Vegas

ColorStars will have a booth at the upcoming LFI at Las Vegas from June 3, to June 5, 2014. ColorStars booth number is 6746.  We are showcasing our most rescent technology and prduct lines. A family of new LED fixtures, lamps with dimming and tuneable color temperature, and control systems using power line control (PLC) technology will have their debuts at this LFI-2014. Come to see what’s new!

CSG Moves to Corona

We are moving to Corona CA on July 4, 2013! The new address and contact information are: ColorStars Group 515 N Smith Ave, Suite 101 Corona, CA 92880 TEL: +1-951-279-6300 FAX: +1951-279-6310