YouWeb was officially delisted by Nasdaq.

by caip2276 on 2012-02-26 00:36:07

In August 2010, Tang Jun packaged 60% of Lianyou's shares into Dahua Construction (CAEI) and listed on NASDAQ through a backdoor listing. However, due to the long-delayed release of the gaming products "Lei Ting" and "Warring States", the company had no source of income; management struggles and layoffs further exacerbated the stock price volatility. In December 2010, it received a delisting warning from NASDAQ because its stock price had been below the $1 red line for a long time. Tang Jun managed to bring the stock price back above $1 by consolidating four shares into one. Last September, Tang Jun resigned as chairman of Lianyou and sold all his shares at a loss. In Lianyou's most recent financial report for the third quarter of 2011, its revenue was zero, with a net loss of $2.6 million; before being delisted, its total share capital was only $4.2 million, and its P/E ratio was -0.26 times.