Ok I'm new at this but this doesn't sound like a good thing.
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule of Standard; Transfer of Listing.
On June 7, 2011, SulphCo, Inc. (the “Company” or “SulphCo”) received notice (the “Notice”) from the staff of the NYSE Amex LLC (the “Exchange”) of the intent of the Exchange to strike the common stock of SulphCo from the Exchange by filing a delisting application with the Securities and Exchange Commission (the “SEC”) pursuant to Section 1009(d) of the NYSE Amex LLC Company Guide (the “Company Guide”).
Specifically, the written notice from the Exchange stated that the Company was not in compliance with Section 1003(a)(i) of the Company Guide with stockholders’ equity of less than $2 million and losses from continuing operations and/or net losses in two out of its three most recent fiscal years; Section 1003(a)(ii) of the Company Guide with stockholders’ equity of less than $4 million and losses from continuing operations and/or net losses in three out of its four most recent fiscal years; and Section 1003(a)(iii) of the Company Guide with stockholders’ equity of less than $6 million and losses from continuing operations and/or net losses in its five most recent fiscal years.
The Company does not intend to appeal the Exchange’s determination to delist the Company’s common stock. As such, on June 14, 2011, the Exchange’s determination will become final. The Exchange will then suspend trading in the Company’s common stock and submit an application to the SEC to strike the Company’s common stock from listing and registration on the Exchange.
