PRB Listing with AMEX Jeopardized
PRB Energy has received notice from the American Stock Exchange ("AMEX") that it does not meet certain continued listing standards, as set forth in section 1003 (a) (iv) of the AMEX Company Guide (the "AMEX Guide"), which could jeopardize the Company's continued listing pursuant to Section 1009 of the AMEX Guide. The AMEX Guide requires, among other things, that an issuer has not sustained losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has not become so impaired that it appears questionable, in the option of the AMEX, as to whether the Company will be able to continue operation and/or meet its obligations as they mature.
The notice letter asserts that the Company must submit a plan to the AMEX by March 14, 2008 advising the AMEX of the action that it has taken, or that it will take, to bring the Company into compliance with all the continued listing standards of the AMEX Guide by May 28, 2008.
- PRB Seeks Chapter 11 Petition for Reorganization (Mar 07)
- PRB Listing with AMEX Jeopardized (Mar 07)
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