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Advanced Environmental Recycling Technologies, Inc (AERT) Receives Notice Of Suspension Of NASDAQ Listing Requirements
Advanced Environmental Recycling Technologies, a company that reclaims waste plastic and turns it in to green building material, received notice that NASDAQ has temporarily suspended a rule requiring all listed stocks to have a share price of at least $1.00. NASDAQ has decided to stop enforcing the rule temporarily, until January 19, 2009.
Advanced Environmental Recycling Technologies was already being given a grace period from the requirement. If their share price is still below a dollar on January 19, the company has been advised that it will be allowed to take the rest of its grace period before it has to worry about being kicked off the NASDAQ exchange.
AERT chairman and CEO Joe Brooks commented on the enforcement suspension:
"We are pleased that, in light of the current market turmoil, NASDAQ has temporarily relaxed its listing requirements. AERT is but one of over 150 NASDAQ listed companies that are currently out of compliance. We are hopeful that when the listing requirement rules are put back into effect next year, AERT’s share price will accurately reflect the progress being made towards our goal of becoming the industry leader in the business of collecting and revaluing waste plastic."
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