De-Listing Comes One Step Closer For Advanced Environmental Recycling Technologies (AERT)

Advanced Environmental Recycling Technologies is trying to maintain its place on the NASDAQ stock exchange, but the company is moving ever closer to being de-listed, according to this press release. On June 26, AERT received a NASDAQ Staff Determination letter advising the company that its request to stay on the exchange has been turned down. The company has a recapitalization that it believes will allow it to regain compliance, but the plan’s timeline is longer than the 105 days given by NASDAQ.

Advanced Environmental Technologies will have one more chance to appeal this decision and to present their plan to regain compliance. They have requested a formal hearing and paid the required fee of $5,000, so now we just have to wait and see what happens. The stock will stay up on the exchange until after the hearing.

In the press release, AERT CEO Joe Brooks commented on the proceedings:

“AERT understands and respects the rules and will submit its plan to the Nasdaq Listing Qualifications Panel and intends to regain and maintain compliance with NASDAQ requirements.


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