Hmmmmm, after-bell news on EEC... ======================================= Environmental Elements Notified by American Stock Exchange Regarding Listing Standards
BALTIMORE, Oct. 21 /PRNewswire-FirstCall/ -- Environmental Elements Corporation (Amex: EEC) has received notification from the American Stock Exchange (the "Exchange") that EEC no longer complies with the Exchange's continued listing standards as specified in Section 1003 (a)(i) of the Amex Company Guide in that its stockholders' equity is less than $2 million and it has sustained losses from continuing operations and/or net losses in two of its three most recent fiscal years; Section 1003 (a)(ii) of the Amex Company Guide in that its stockholders' equity is less than $4 million and it has sustained losses from continuing operations and/or net losses in three of its four most recent fiscal years; Section 1003 (a)(iii) of the Amex Company Guide in that its stockholders' equity is less than $6 million and it has sustained losses from continuing operations and/or net losses in five of its most recent fiscal years; and, Section 1003(a)(iv) of the Amex Company Guide in that the company has sustained losses which are so substantial in relation with its overall operations or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether such company will be able to continue operations and/or meet its obligations as they mature. The Company has appealed this determination and intends to file a written submission detailing its plans to regain compliance, however there can be no assurance that the Company's request will be granted. In the event that their request is denied, EEC expects that its securities will be eligible to trade through the Over the Counter Bulletin Board(R) quotation service. (Logo: http://www.newscom.com/cgi-bin/prnh/20011211/EECLOGO )
Environmental Elements Corporation is a solutions-oriented, global provider of innovative technology for plant services, air pollution control equipment and complementary products. The Company serves a broad range of customers in the power generation, pulp and paper, waste-to-energy, rock products, metals and petrochemical industries. Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.