IDT INT'L (00167): The resumption application is still under review and processing by the Stock Exchange.

IDT InterDigital (00167) announced that since the suspension of trading of the company's shares, the board of directors has been actively taking actions to meet all resumption guidelines. Based on the actions taken, on September 3, 2024, the company submitted a resumption application to the Stock Exchange, demonstrating the company's compliance with the resumption guidelines. Subsequently, the company has submitted further supplementary information to the Stock Exchange along with the resumption application. As of the date of this announcement, the resumption application is still under review by the Stock Exchange, and the resumption of trading of the company's shares is still pending approval and confirmation from the Stock Exchange. As previously disclosed, the group has resumed the sale of electronic products under the "Oregon Scientific" brand and has developed and started operating multiple online retail platforms with the aim of increasing market awareness of the "Oregon Scientific" brand and promoting and showcasing products to the retail market. As of the date of this announcement, confirmed orders amounting to HK$70 million scheduled for delivery in the third quarter of 2024 have been fulfilled. According to the unaudited management accounts for the third quarter of 2024, the group's unaudited revenue (mainly from the sale of electronic products) is approximately HK$76 million. The group has also received orders totaling around HK$40 million, expected to be completed and delivered in the fourth quarter of 2024. The group will continue to periodically review its existing businesses and strive to improve the operational and financial condition of the group. The group's business strategy is to actively seek potential business and investment opportunities to expand its sources of income. In addition, the company continues to actively communicate with its creditors to reach a negotiated agreement to address the company's working capital issues and repay the company's debts. The trading of the company's shares remains suspended.