Houston American Energy Corp. said Feb. 7 that on Feb. 6, it was notified it continues to be in non-compliance with the NYSE MKT Exchange's continued listing standards, and its stock will continue listing pursuant to an extension.
The notification cited the company’s failure to maintain at least $6 million in stockholders' equity, coupled with reported net losses in its five most recent fiscal years. The notification also cited the continued trading of common stock at a low price.
The common stock will trade under the ticker “HUSA.BC” indicating non-compliance with listing standards.
NYSE Regulation granted Houston American Energy an extension to the cure period with respect to its stock price through February 28, 2017. If, by that time, the company is not in compliance with the continued listing standards, or no progress is made, delisting proceedings may begin, the press release said.
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