Chris
06-21-2008, 07:07 PM
Fountain, who just recently acquired the assets of Baja has received a letter from Amex that it is non-compliance of the stock exchange rules.
The letter references non compliance of part 10 section Section 1003(a)(iv) of it's company guide.
Fountain was notified that it was in non-compliance under the section, in that, "it 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, whether such company will be able to continue operations and/or meet its obligations as they mature.”
That doesn't sound too good...
Here's a link...
http://www.boating-industry.com/output.cfm?id=1668781
The letter references non compliance of part 10 section Section 1003(a)(iv) of it's company guide.
Fountain was notified that it was in non-compliance under the section, in that, "it 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, whether such company will be able to continue operations and/or meet its obligations as they mature.”
That doesn't sound too good...
Here's a link...
http://www.boating-industry.com/output.cfm?id=1668781