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Taxus Cardium Pharmaceuticals Group, Inc. Message Board

  • justmeagain7 justmeagain7 Oct 5, 2013 10:02 AM Flag

    Seems This Exchange Takes Financial Impairment Seriously

    April 2/2013
    Gasco Energy Inc. said Tuesday that it's gotten notice from the NYSE MKT LLL that it will be delisted from the exchange.
    The Denver-based natural gas and petroleum company, which trades as GSX, submitted a plan of compliance for listing that the exchange denied.
    “The exchange has determined that the company has not made a reasonable demonstration of its ability to regain compliance … by June 30, 2013, and that the exchange intends to initiate delisting proceedings against the company by filing a delisting application with the Securities and Exchange Commission,” Gasco said in a news release.
    Gasco Energy said previously that the problem comes from a section of the listing requirement that “applies if a listed company has sustained losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether such company will be able to continue operations and/or meet its obligations as they mature.”

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