Public Companies

TAIPEI, Taiwan, Nov. 28 (SEND2PRESS NEWSWIRE) -- City Network, Inc. (AMEX: CSN) announced that on November 22, 2006 the Company received notice from the American Stock Exchange ("Amex") that it is not in compliance with certain Amex continued listing standards, as a result of the Company's failure to file in a timely manner a Form 10-QSB for the year ended September 30, 2006.

The letter requests that the Company submit a plan of the actions it plans to take to bring the Company into compliance with Sections 134 and 1101 of the Amex Company Guide.

The Company issued a press release on November 22, 2006 explaining that the delay in filing Form 10-QSB is the result of a delay in management's ongoing evaluation of the Company's internal control over financial reporting for the quarter ended September 30, 2006, and that the Company expects to file its Form 10-QSB on November 29, 2006.

Send2Press® is the originating wire service for this story.