 On May 15, 2007, NetBank received a warning from the NASDAQ because it was late in filing its quarterly report.NetBank received a similar notice from Nasdaq in March 2007 because it did not file its 2006 annual report on time as a result of the resignation of its auditor.In February 2007, NetBank hired Porter Keadle Moore LLP as its new independent auditor and said it planned to file the annual and quarterly reports by the end of June 2007.