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General Employment Enterprises Inc. (NYSE MKT: JOB), an Oakbrook Terrace, Ill.-based staffing provider, on June 6 received a letter from NYSE MKT LLC stating the company is out of compliance with listing standards.
Among other things, the company has equity of less than $4 million and has sustained losses from continuing operations and/or net losses in three of its four most recent fiscal years and, in the opinion of the exchange, it is questionable whether General Employment will be able to continue operations and/or meet its obligations as they mature based on its current overall financial condition.
The company’s common stock continues to trade on the NYSE MKT stock exchange but will become subject to the trading symbol extension “.LF” to denote non-compliance with the NYSE MKT's continued listing standards.
In March, the exchange accepted General Employment’s plan of compliance and granted the company an extension until May 1 to regain compliance with the continued listing standards. Read the Daily News story here.