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GreenHunter Energy (GRH) Receives Warning From Amex
GreenHunter Energy has received a warning letter from NYSE Amex. According to this report on FoxBusiness.com, the company’s continued listing on the Amex exchange is in jeopardy for the following reasons:
(i) the Company reporting a stockholders’ equity less than the minimum requirements with operating losses in its most recently completed fiscal years as set forth in Sections 1003 (a) (i,ii and iii) of the Company Guide and (ii) the Company has sustained losses which are so substantial in relation to 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, that the Company will be able to continue operations and/or meet its obligations as they become due as set forth in Section 1003 (a)(iv) of the Company Guide.
GreenHunter Energy plans to submit a plan of compliance before the deadline of June 29, 2009. They’d better, or they’re off the exchange.
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