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 … Read the rest
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 … Read the rest
Advanced Environmental Technologies just announced that it will use a new, $11.5 million factory in Watts, Oklahoma to recycle lower-grade plastics. AERT hopes to use this strategy to reduce its costs for materials for its recycled plastic/wood fiber products. The company also plans to re-sell some of the lower grade plastic to other companies, thereby increasing its revenue stream and providing opportunities for revenue that extend beyond the seasonal demand for building supplies.
In an … Read the rest
AERT Sales were down compared to the third quarter of last year, dropping from $25.2 million in the third quarter of 2007 to $18.6 million today. However, since the company was also able to reduce operating expenses during that time, gross margins increased to 10.1% of sales in the third quarter of this year, versus 8.2% last year. The net loss stayed about the same-this year it was $1.9 million, and in the third quarter … Read the rest
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 … Read the rest