Paysign Inc: Drops after Q4 earnings delayed for third time

Paysign

31/03/2020 23:44

** Payment solutions co's shares  PAYS.O  fall ~20% in
after-hours trading 
    ** PAYS says it needs more time to file year-end report and
Q4 earnings, and will file separate press release with new
schedule for results  urn:newsml:reuters.com:*:nBw4ylbzWa
    ** PAYS was supposed to report earnings by March 16, but
took a 15-day extension on the deadline after identifying
material weaknesses in financial reporting  urn:newsml:reuters.com:*:nBw6rx7rPa
    ** PAYS then scheduled the report for March 25, but
postponed it to March 31 without offering a reason  urn:newsml:reuters.com:*:nBw7T6Cg4a
    ** Brokerage D.A. Davidson says it suspects
coronavirus-related work restrictions could be a reason for
delay
    ** Through Tuesday's close, PAYS shares were down ~50% YTD

 (Reporting by Shariq Khan in Bengaluru)
 ((Shariq.Khan@thomsonreuters.com; Twitter: @shariqrtrs))