Clickable Enterprises' Shares to Be Removed from OTCBB
Nov 16, 2006 8:30:00 AM
Copyright Business Wire 2006
MOUNT VERNON, N.Y.--(BUSINESS WIRE)--
Clickable Enterprises, Inc. (OTCBB:CKEI), the first Internet-based home heating oil company, announced today that a Listing Qualifications Panel (the "Panel") has determined the company's common stock is no longer eligible for quotation on the OTCBB because the company is not in compliance with the requirements of NASD Marketplace Rule 6530.
The company is not in compliance with Rule 6530, as its Form 10-KSB for the fiscal year ended March 31, 2006 was incomplete due to the company's failure to obtain the consent of its former auditor, Weinberg & Company, P.A. ("Weinberg") to the inclusion in the 10-KSB of Weinberg's report on the previous fiscal year's financial statements. The company is working with Weinberg and its current auditor to obtain consent, but resolution of the issue has been delayed due to issues regarding the appropriate application of EITF 00-19 to accounting for the company's convertible debentures and preferred stock.
Under the Panel's determination, the company's common stock will become ineligible for trading on the OTCBB at the start of business on November 17, 2006. The company expects that brokers will subsequently be able to post quotes for the company's stock on the Pink Sheets.
The company is continuing to seek resolution of the accounting issues preventing it from receiving Weinberg's consent, and upon completion of the filing of its 10-KSB, intends to pursue re-authorization for quotation on the OTCBB.
ClickableOil is committed to providing low-cost and efficient heating oil services, as it continues to grow along the East Coast through marketing efforts, promotions and acquisitions.
AI
