SMF ENERGY Confirms Nasdaq Compliance
October 15 2009 - 4:36PM
PR Newswire (US)
FT. LAUDERDALE, Fla., Oct. 15 /PRNewswire-FirstCall/ -- SMF ENERGY
CORPORATION (NASDAQ:FUELD) (the "Company"), a leading energy
logistics company providing efficient, just in time distribution of
petroleum products and chemicals, today announced that it has
received a letter from Nasdaq confirming that the Company has
reestablished compliance with Nasdaq Marketplace Rule 5450(a)(2),
requiring a $1 minimum closing bid price. (Logo:
http://www.newscom.com/cgi-bin/prnh/20090513/SMFENERGYCORPLOGO )
The Company was required to demonstrate compliance with the minimum
closing bid price requirement by October 15, 2009, which it
accomplished after completing a 1 for 4.5 reverse stock split
effective October 1, 2009. As a result of the reverse stock split,
the Company's trading symbol was temporarily changed from FUEL to
FUELD for a period of twenty (20) trading days beginning October
1st. The Company's trading symbol is expected to revert to FUEL on
October 29th. Richard E. Gathright, Chairman, Chief Executive
Officer and President, commented, "We are pleased to have
reaffirmed our Nasdaq listing which offers our shareholders and the
investment community high visibility and enhanced liquidity for our
stock. This acknowledgement of our continuing Nasdaq listing
further complements our dramatically improved financial performance
as reflected in SMF's recently released Form 10-K and enhanced
financial condition post our June 2009 recapitalization." ABOUT SMF
ENERGY CORPORATION (NASDAQ:FUEL) The Company is a leading provider
of petroleum product distribution services, transportation
logistics and emergency response services to the trucking,
manufacturing, construction, shipping, utility, energy, chemical,
telecommunication and government services industries. The Company
provides its services and products through 31 locations in the 11
states of Alabama, California, Florida, Georgia, Louisiana, Nevada,
Mississippi, North Carolina, South Carolina, Tennessee and Texas.
The broad range of services the Company offers its customers
includes commercial mobile and bulk fueling; the packaging,
distribution and sale of lubricants and chemicals; integrated
out-sourced fuel management; transportation logistics and emergency
response services. The Company's fleet of custom specialized tank
wagons, tractor-trailer transports, box trucks and customized
flatbed vehicles delivers diesel fuel and gasoline to customers'
locations on a regularly scheduled or as needed basis, refueling
vehicles and equipment, re-supplying fixed-site and temporary bulk
storage tanks, and emergency power generation systems; and
distributes a wide variety of specialized petroleum products,
lubricants and chemicals to our customers. More information on the
Company is available at www.mobilefueling.com. FORWARD LOOKING
STATEMENTS This press release includes "forward-looking statements"
within the meaning of the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. For example, predictions
or statements of belief or expectation concerning the future
performance of the Company, the future trading prices of the
Company's common stock and the potential for further growth of the
Company are all "forward looking statements" which should not be
relied upon. Such forward-looking statements are based on the
current beliefs of the Company and its management based on
information known to them at this time. Because these statements
depend on various assumptions as to future events, they should not
be relied on by shareholders or other persons in evaluating the
Company. Although management believes that the assumptions
reflected in such forward-looking statements are reasonable, actual
results could differ materially from those projected. In addition,
there are numerous risks and uncertainties that could cause actual
results to differ from those anticipated by the Company, including
but not limited to those cited in the "Risk Factors" section of the
Company's Form 10-K for the year ended June 30, 2009. Contact:
Robert W. Beard Senior Vice President and Investor Relations
Officer 954-308-4200 DATASOURCE: SMF Energy Corporation CONTACT:
Robert W. Beard, Senior Vice President and Investor Relations
Officer, +1-954-308-4200 Web Site: http://www.mobilefueling.com/
Photo:
http://www.newscom.com/cgi-bin/prnh/20090513/SMFENERGYCORPLOGO
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