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
Xbox Live users are aggravated about repeated outages that have prevented gamers from accessing online multiplayer features. Blaming higher egg prices and other rising costs, Dunkin's Donuts will close 100 stores, all of them Speedway gas station and convenience store locations. Micron Technology, Inc. said that its fourth quarter profit fell 59% from last year, as sales declined and gross margins deteriorated amid weak demand and pricing pressures due to continued softness in the personal computer market. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly sales.
comments powered by Disqus
Trade ENV now with 
Follow RTT