Amex Continues Suspension of Wiz Technology Trading
SAN JUAN CAPISTRANO — The American Stock Exchange on Friday continued its suspension of trading in Wiz Technology Inc. stock, pending a resolution of accounting issues.
Trading was halted Wednesday. The company said accounting discrepancies stem from the introduction of a new CD-ROM package earlier this year, the first product that the marketing company has created in its four-year history.
The San Juan Capistrano company has not released its third-quarter financial statements, which were due June 15. Wiz was also late in filing its first-quarter statements last October, according to Amex officials.
“We won’t open trading until this is cleared up,†said an Amex spokeswoman, who declined to identified. “I can’t say when that will be.†The software marketer, however, expects trading to resume early next week, said company spokesman Paul Keil.
Wiz markets education, business and game software that often is sold in supermarkets.
The company lost $502,518 on revenue of $543,003 in the second quarter ended Jan. 31. In the first six months, losses totaled $451,805 on revenue of $1.5 million.
