ZST Digital Networks Inc ( NASDAQ:ZSTN ) shares was opened gap down and hit a 52 weeks low after a report that Company's FY09 and FY08 financial results were overstated than they actually were.

The report states that “SEC filings report revenues hundreds of times of what is reported” to the Chinese regulators and the filings show that the Company “paid zero tax in China, but reported substantial amounts to the SEC.” 

Shares was closed at $2.68 down 38% with an abnormal high volume of 3.04 million of shares...................

( Sources:Business Wire )