Houston American Energy Corp. said Sept. 28 that on Sept. 26, it was notified that it continues to be in non-compliance with the NYSE MKT's continued listing standards.
The company’s stock is still being listed pursuant to an extension, with the designation “BC” added to its ticker “HUSA” to indicate that it is not in compliance.
Houston American Energy failed to maintain stockholders' equity of at least $6 million coupled with reported net losses in its five most recent fiscal years. The stock continues trading at a low price.
NYSE MKT had previously notified Houston American Energy that its continued listing was predicated on either affecting a reverse stock split or otherwise demonstrating sustained price improvement no later than Sept. 19. Houston American Energy was granted an extension to the cure period with respect to its stock price through Jan. 3, 2017, but if it does not meet compliance by then, NYSE regulation may begin delisting proceedings.
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