SOURCE: Orsus Xelent Technologies, Inc.

Orsus Xelent Technologies, Inc.

October 25, 2011 12:35 ET

Orsus Xelent on the Pink Sheets

NEW YORK, NY--(Marketwire - Oct 25, 2011) - Orsus Xelent Technologies, Inc. ("Orsus" or the "Company") (PINKSHEETS: ORSX), a designer and distributor of award-winning mobile phones for the Asian market, reported today that on October 14, 2011, the Company received the final determination of the NYSE Amex Listing Qualifications Panel (the "Panel") following the October 3, 2011 oral hearing before the Panel. The Panel affirmed the Exchange Staff's earlier determination to delist the Company's securities from the Exchange due to the Company's inability to remain in compliance with certain of the Exchange's continued listing requirements because it was financially impaired. The Company was entitled to request that the full Committee on Securities review the Panel's determination within 15 days of the receipt of such determination. The Company did not request such review. Accordingly, the delisting became effective at the open of the market on Friday, October 21, 2011.

The Company's securities are now quoted in the National Daily Quotation Sheets, commonly referred to as the "pink sheets" with the symbol ORSX.PK. The Company is contemplating, through a market maker, getting its securities quoted on the OTC Bulletin Board (the "OTC-BB"). However, the Company cannot give any assurance that there will be any market maker for the Company's securities to be quoted on the OTC-BB.

The Company will continue to file periodic reports with the SEC pursuant to the requirements of the Securities Exchange Act of 1934, as amended.

About Orsus Xelent Technologies, Inc.

Incorporated in the State of Delaware and headquartered in Beijing, China, Orsus Xelent Technologies, Inc. is an emerging designer and manufacturer of award-winning mobile phones for the Asian market, primarily the People's Republic of China ("PRC").

Information Regarding Forward-Looking Statements
Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Orsus Xelent Technologies, Inc.
    Guoji Liu
    Tel: 010-861085653777