Genesis Research and Development, which in July abandoned plans to merge with an unlisted Australian company, had its shares halted from trading pending an announcement.
The company suspended operations in May 2010 and laid off its entire staff.
In July this year it placed 9.1 million shares, which it said gave it enough funds to remain listed while it considers further investments.
The shares last traded at 1.8 cents, valuing the company at $980,000, and have declined 40% in the past year.
In July, Genesis called off a proposed merger with Australia-based Mariposa Health, an unlisted public pharmaceutical development company.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Sunday Business with Andrew Patterson
- Listen to the week’s top business news on NBR Radio’s week in review
- Tim Hunter asks: Is the government planning to hand control of water to iwi?
- Matthew Hooton on Winston Peters’ plan to become prime minister
- Rodney Hide on the technological development and economic advance in transport