Solar EnerTech Corp. announced that it has retained FTI Consulting to review and explore strategic alternatives for the Company and has appointed a member of FTI Consulting as Chief Restructuring Officer. In addition, the Company announced that it has filed a Form 15 with the Securities and Exchange Commission (the “SEC”) to voluntarily deregister its common stock, par value $0.001 per share under the Securities Exchange Act of 1934, as amended.
Upon the filing of the Form 15, the Company’s obligation to file certain reports with the SEC, including Forms 10-K, 10-Q and 8-K, will immediately be suspended. The Company expects that the deregistration of its common stock will become effective 90 days after the date of filing of the Form 15 with the SEC. Thereafter, the Company will no longer be subject to the SEC’s public reporting requirements.