New Concept Energy, Inc. Receives Extension from NYSE Regulation
March 11 2020 - 4:37PM
Business Wire
New Concept Energy, Inc. (NYSE American: GBR) announced that the
Company received notice, by letter dated March 6, 2020, from NYSE
Regulation, of acceptance of a plan to regain compliance and
granting a plan period extension through December 17, 2020, subject
to compliance with initiatives outlined in the plan. The Company
had previously received guidance that it was not in compliance with
Section 1003(a)(ii) of the NYSE American Company Guide since the
Company reported stockholders’ equity of $2.4 million as of
September 30, 2019 and losses from continuing operations in three
of its four most recent fiscal years ended December 31, 2018.
This public announcement is disclosing that the Company is not
in compliance with NYSE American’s continued listing standards and
that the Company’s listing has been continued pursuant to an
extension, with a targeted completion date of December 17, 2020.
The Company must provide quarterly updates to plan progress to NYSE
Regulation staff concurrent with its interim and annual Sec
filings.
The Company is in the process of moving forward with the
initiatives contained in the plan.
About New Concept Energy, Inc.
New Concept Energy, Inc. is a Dallas-based oil and gas company
which owns oil and gas wells and mineral leases in Ohio and in West
Virginia. For more information, visit the Company’s website at
www.newconceptenergy.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200311005768/en/
New Concept Energy, Inc. Gene Bertcher, (800) 400-6407
info@newconceptenergy.com
New Concept Energy (AMEX:GBR)
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