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Nasdaq Grants 180-Day Reprieve To Advanced Environmental Technologies (AERT)
Nasdaq officials agreed to grant Advanced Environmental Technologies a temporary reprieve from de-listing after the company submitted an action plan to bring itself back in compliance with Nasdaq’s standards. The company now has a full 180 days, until December 23, 2009, to regain compliance with Nasdaq’s regulations regarding minimum equity or net income. AERT also needs to bring its stock price above $1 per share.
In a press release, AERT CEO, Joe Brooks, commented on the news,
“AERT appreciates the Nasdaq Listing Qualifications Panel for taking the time to meet with the company and its advisors and to evaluate AERT’s plan. Our AERT associates under the direction of AERT President, Tim Morrison, and CFO, Brian Hanna, have done an excellent job by steering the company through this very difficult economic environment and returning the company to profitability. AERT continues to positively compete and move forward due to the commitment, dedication and hard work of our AERT associates.”
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