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General Employment regains listing compliance

January 14, 2015

General Employment Enterprises Inc. (NYSE MKT: JOB) is back in compliance with the NYSE MKT LLC listing policies. The Oakbrook Terrace, Ill.-based staffing provider reported it received a letter from the listing Exchange, dated Jan. 9, that it resolved the continued listing deficiency and is no longer on the list of NYSE MKT noncompliant issuers and the below compliance indicator will no longer be disseminated.

The NYSE in June had granted the company a fourth extension of its impairment plan period to improve the overall financial condition and increase the equity to a minimum of $4 million. Stockholder equity had been less than $4 million and the company has sustained losses from continuing operations and/or net losses in three of its four most recent fiscal years.

“Regaining NYSE MKT compliance is an important milestone and affirmation of the significant progress we have made over the past few years,” said CEO Andrew Norstrud. “With a strong balance sheet, refined focus on high growth market sectors and a significantly enhanced management team, we can now turn our focus in earnest to driving long-term profitability through sustainable organic and acquisition growth.”

General Employment last month acquired Scribe Solutions Inc. and announced Scribe Chairman and CEO Derek Dewan will take over the chairman and CEO roles at General Employment.