MEMS Tech: Still Unable to Produce Quarterly Earnings!

Mems Technology announced the following statement:

• As announced, the Company failed to issue its Audited Financial Statements for the financial year ended 31 July 2007 (“Audited Financial Statements”), Unaudited Quarterly Report for the first quarter ended 31 October 2007 (“First Quarterly Report”) and Annual Report for the financial year ended 31 July 2007 for public release within the stipulated timeframe pursuant to Rule 9.22 and 9.24 of the Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) for the Mesdaq Market (“MMLR”). Further, the Company’s securities had been suspended since 3 March 2008 due to the fact that the Company has not issued its Audited Financial Statements by the due date pursuant to Rule 9.24(b) of the MMLR, i.e. 29 February 2008.
  
  The Board of Directors of MEMS (“the Board”) wishes to announce that the Company is also unable to issue its Second Quarterly Report for public release within the stipulated timeframe pursuant to 9.22 of the MMLR which was due on 31 March 2008 (the Audited Financial Statements, First Quarterly Report, Second Quarterly Report and Annual Report shall hereinafter collectively referred to as “the Outstanding Financial Statements”).
  
  The Board noted that in the event the Company fails to issue the Outstanding Financial Statements within the timeframe pursuant to Rule 9.26(6) of the MMLR, i.e. by 31 May 2008, in addition to any enforcement action which Bursa Securities may take, de-listing procedures shall be commenced against the Company.
  
  However, as announced, the Company is now in the final stages of finalising the Audited Financial Statements with its external auditors.
  
  The Board will use its best endeavours to ensure that the Company issues the Outstanding Financial Statements as soon as possible.
  
  This announcement is dated 4 April 2008

What's going on?

How hard is it to announce its quarterly earnings?

This is simply disgusting, isn't it?