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
- Massey University's David Tripe on why CBA is selling its life businesses at a loss
- As much as the leaders will bask in a win, they will both face challenges as prime minister, comments Rob Hosking
- Fisheries Inshore NZ chief executive Jeremy Helson says many in the industry have concerns about new fishing regulations
- Perry Group chairman Simon Perry explains why Hamilton needs a $1 billion development in a disused quarry
- Jacinda Ardern has sure been talked up a lot by the media, claims David Cohen
- NBR Radio: best of the week ended September 15, with Grant Walker