American Defense Systems Stock to Transition to OTCQB Marketplace
01 Dicembre 2011 - 12:30PM
Marketwired
American Defense Systems, Inc. ("ADSI" or the
"Company") (NYSE Amex: EAG), a provider of advanced
transparent and opaque armor, architectural hardening and security
products for Defense and Homeland Security, today announced that
the Company's securities will begin trading on the OTCQB
Marketplace, effective December 1, 2011. The Company's common stock
will trade under the symbol "ADFS" on the computerized OTCQB
system. The transition to the OTCQB Marketplace follows an
announcement by NYSE Amex LLC (NYSE Amex) that trading of the
common stock of the Company will be suspended on NYSE Amex, with
formal delisting to follow.
Operated by OTC Markets Group Inc., the OTCQB is a market tier
for OTC traded companies that are registered and reporting with the
Securities and Exchange Commission. Investors will be able to view
stock quotes for the Company at http://www.otcmarkets.com.
The transition to the OTCQB Marketplace does not change the
Company's obligation to file periodic and other reports with the
Securities and Exchange Commission under applicable federal
securities laws.
As previously disclosed, on September 14, 2011, the Company
received notice from NYSE Amex that the staff of NYSE Amex had
determined that the Company has not made progress consistent with
its previously announced Plan of Compliance (the "Plan") and,
accordingly NYSE Amex deemed it appropriate to initiate delisting
proceedings with regard to the Company's common stock (the
"Determination"). In accordance with Section 1203 and 1202(b) of
the NYSE Amex Company Guide, the Company had a limited right to
appeal the Determination. The Company appealed the determination on
November 11, 2011 before a NYSE Amex Panel (the "Panel"). On
November 22, 2011, the Company received notice from NYSE Amex that
the Panel had affirmed the Staff's determination to delist the
common stock of the Company. The Company has determined that it
will not further appeal the Determination.
About American Defense Systems, Inc.
American Defense Systems, Inc. (ADSI) (NYSE Amex: EAG) offers
advanced solutions in the design, fabrication, and installation of
transparent and opaque armor, security doors, windows and curtain
wall systems for use by military, law enforcement, homeland defense
and corporate customers. ADSI engineers also specialize in
developing innovative, functional and aesthetically pleasing
security applications for the mobile and fixed infrastructure
physical security industry. For more information, visit the ADSI
corporate website at www.adsiarmor.com.
Certain statements in this release are "forward-looking
statements" within the meaning of the rules and regulations of the
U.S. Securities and Exchange Commission. Forward-looking statements
provide current expectations of future events based on certain
assumptions and actual results could differ materially from those
expected. Forward-looking statements also include any statement
that does not directly relate to any historical or current fact.
Information in this release regarding the transition from NYSE Amex
to the OTCQB Marketplace, the timing of trading of and the
prospects for a market developing for the Company's securities on
the OTCQB, are forward-looking statements. ADSI undertakes no
obligation to publicly update any forward-looking statement
contained in this release, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
Company Contacts: Gary Sidorsky Chief Financial Officer American
Defense Systems, Inc. Tel 516.398.3664 Email Contact
Grafico Azioni Eagle Broadband (AMEX:EAG)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Eagle Broadband (AMEX:EAG)
Storico
Da Set 2023 a Set 2024