logo
Share SHARE
FONT-SIZE Plus   Neg

Enova Systems Receives Non-compliance Letter From NYSE Amex - Quick Facts

Enova Systems Inc. (ENA, ENV.L, ENVS.L) announced that, on April 17, 2012, it received notice from the NYSE Amex LLC indicating that the Company is not in compliance with one of the Exchange's continued listing standards.

Specifically, the Company is not in compliance with Section 1003(a) (iii) with stockholders' equity of less than $6 million and losses from continuing operations and/or net losses in five consecutive fiscal years.

Enova said that it has been afforded the opportunity to submit a plan of compliance to the Exchange by May 17, 2012 addressing how the Company intends to regain compliance with the continued listing standards of the Company Guide within a maximum of 18 months.

The Company is taking steps to prepare and submit such a plan to the Exchange on or before May 17, 2012. If the plan is accepted but the Company is not in compliance with the continued listing standards of the Company Guide by October 15, 2013 or if the Company is not making progress consistent with the plan during the Plan Period, the Company would become subject to delisting procedures in accordance with Section 1010 and Part 12 of the Company Guide.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
Follow RTT