General Employment Enterprises Inc. (NYSE MKT: JOB), an Oakbrook Terrace, Ill.-based staffing provider, received a third extension from the NYSE MKT LLC related to compliance with listing standards.

Stockholder equity is 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. In the opinion of the exchange, it is questionable as to 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 NYSE granted the company a third extension of its impairment plan period from March 31 to June 6, 2014, to improve the overall financial condition and increase the equity to a minimum of $4 million.

General Employment’s initial plan of compliance, initially accepted by the Exchange on Aug. 27, 2013, granted the company until Oct. 7, 2013 to regain compliance with listing standards. The NYSE MKT then granted the company an extension of the impairment plan period until Feb. 21, 2014, and then another extension to the end of March. General Employment’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.

“We are grateful to the NYSE for continuing to work with us as we make the necessary infrastructure changes to rebuild the foundation of the company and for not requiring us to make short-term decisions that would not be in the best long-term interests of the company or its shareholders,” said CEO Andrew Norstrud.

The company also announced it has sold 625,000 shares of common stock and 312,500 common stock purchase warrants for $125,000.

“We will use this capital infusion for working capital as we work toward completing our restructuring plan and shifting our focus to our strategic growth initiatives,” said Norstrud. “Our investors will see a distinct change in our efforts in the coming months as we begin to rebuild our management team and take bold steps to execute our business plan.”

Shares in General Employment were up 7.21 percent in early afternoon trading today to 21 cents and General Employment has a market cap of approximately $4.91 million, according to Yahoo!