Bidz.com (BIDZ), which was supposed to report Q1 results today, has postponed the announcement until Thursday afternoon “in order to allow additional time to complete the company’s financial statements.”
The company said the postponement in related to the accounting treatment in the 2007-2009 period for the exercise of employee stock options in 2007 by non-management employees with loans from BIDZ. The company said it is still working with auditors “to determine the appropriate adjustments,” which it says should not be material.
In today’s regular session, the stock rose 2 cents, to $2.20.
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