SMF Energy Granted Extension to Comply with Nasdaq Listing Requirement
SMF ENERGY CORPORATION, (NASDAQ:FUEL) (the “Company”), a leading provider of specialized transportation and distribution services for petroleum products and chemicals announced today that on September 11, 2008, the Nasdaq Listing Qualifications Panel granted its request for an extension of time to regain compliance with the $1.00 minimum bid price continued listing requirement set forth in Marketplace Rule 4310(c)(4) until December 23, 2008.
The Panel’s decision was based on the Company’s declared intention to complete a reverse stock split by submitting it for approval at its upcoming shareholders meeting, and for the reverse stock split to take effect. Under the terms of the extension, the Company is required to have a closing bid price of $1.00 or more for a minimum of ten prior consecutive trading days on or before December 23, 2008, and to otherwise maintain compliance with all other applicable Nasdaq listing standards.
For a Bailout, Press 'One', If you're a bank press 1, If a brokerage firm, press or say 2
For a Bailout, Press 'One', If you're a bank press 1, If a brokerage firm, press or say 2
