New Concept Energy, Inc. Receives Extension from NYSE Regulation
July 16 2018 - 4:30PM
Business Wire
New Concept Energy, Inc. (NYSE American: GBR) announced that, by
letter dated July 9, 2018, the Company received notice, from NYSE
of acceptance of a plan submitted by the Company to regain
compliance with the NYSE regulations. The NYSE approved a plan
period through October 23, 2019, subject to compliance with
initiatives outlined in the Company’s plan. The Company had
previously received guidance that it was not in compliance with
Sections 1003(a)(i) and 1003(a)(ii) of the NYSE American Company
Guide since the Company reported stockholders’ equity of $0.6
million as of December 31, 2017 and losses from continuing
operations in three of its four most recent fiscal years ended
December 31, 2017.
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 October 23, 2019. The
Company must provide quarterly updates of 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/20180716005829/en/
New Concept Energy, Inc.Gene Bertcher,
800-400-6407info@newconceptenergy.com
New Concept Energy (AMEX:GBR)
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