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Vicon Industries, Inc. (NYSE American: VII) today announced that it intends for its common stock to commence trading on the OTCQB Venture Market (OTCQB) on July 12, 2018. As previously announced, on June 14, 2018, the Company received notification from the NYSE American LLC (the “NYSE”) that it was not in compliance with the NYSE’s stockholders’ equity continued listing standard, and was asked to submit a compliance plan by July 16, 2018.
On June 14, 2018, Vicon Industries, Inc. (the "Company") received a letter from NYSE American LLC (the “Exchange”) stating that the Company is not in compliance with the stockholders’ equity continued listing standards set forth in Section 1003(a)(ii) of the NYSE American Company Guide (the “Company Guide”). In order to maintain its listing, the Company must submit a plan of compliance by July 16, 2018 addressing how it intends to regain compliance with Section 1003(a)(ii) of the Company Guide by December 16, 2019. The Company's management is pursuing options to address the deficiency and intends to submit a compliance plan on or before the deadline set by the Exchange.