SOURCE: Nettel Holdings

June 06, 2008 08:05 ET

Nettel Holdings Provides Updates on Its Filing Status

VANCOUVER, WA--(Marketwire - June 6, 2008) - Nettel Holdings, Inc. (OTCBB: NTTLE) reports that the company received notification from the staff of the Nasdaq OTCBB, Inc. on May 28, 2008 informing the company that it has been late in filing a required report three times in the last two years.

NASD Rules 6530 and 6540 require the removal of a company's securities from the OTCBB for a period of one year if the issuer has failed to file a complete required annual or quarterly report by the due date (plus extension) three times within in a two-year period. The OTCBB claims that Nettel was late in Sept 2006, but notification was never received by Nettel. The company is refuting it. The company was declared late in May for submission of their 10K for 2007 and 1st quarter 10Q for 2008.

A telephonic hearing before a Panel authorized by the NASD Board of Governors has been scheduled for Friday, June 13, 2008 at approximately 10:30 a.m., Eastern Time. At the hearing, the Panel will consider whether the Staff erred in determining that the Company was late in its filings three times in the prior two-year period.

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