KIT digital Expects to Make Use of 10-Q Filing Extension as a Result of Delays Related to Hurricane
Nov 09, 2012 (Marketwire via COMTEX) -- KIT digital, Inc. (NASDAQ: KITD), a leading video management software and services company, announced today that the filing of its Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 has been delayed due to the effects of the aftermath of Hurricane Sandy. As a result of the storm, the company experienced a loss of electricity and telephone service for one week at its headquarters in New York City and a number of its employees, auditors and others living in affected areas who have been historically responsible for the preparation of the company's SEC filings and related financial statements and disclosures were displaced. The Securities and Exchange Commission recently announced that it anticipated relief measures that would extend the filing deadline of any individual or entity that cannot timely file due to Hurricane Sandy and its aftermath to November 21, 2012. The company intends to make use of this extension and is working towards filing the third quarter Form 10-Q by such extended deadline.
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