In paperwork filed today with the Securities and Exchange Commission, the company disclosed it was notified that it was subject to immediate delisting unless it appealed the exchange’s decision by Feb. 2.
“In light of current economic conditions in general and, in particular, conditions within the marine industry, the company does not believe it can regain compliance with the Exchange’s continued listing standards in the near term,” Fountain stated. “As a result, the company’s board of directors has elected not to appeal the staff’s determination.”
Hank Sibley Bluewater Yacht Sales 