The American Stock Exchange (AMEX) intends to suspend trading of GreenMan’s common stock after the close of trading June 14. and will file an application with the Securities and Exchange Commission to strike GreenMan’s common stock from the listing on the AMEX, according to a press release from GreenMan.
The AMEX Listing Qualifications Panel said that GreenMan is not in compliance with the exchange’s requirements for continued listing under Section 1003(a)(ii) of the AMEX Company Guide, which requires a company to maintain stockholder’s equity in excess of $4 million if it has sustained losses from continuing operations and/or net losses in three out of its four most recent fiscal years.
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