Chinese Supplier to be Delisted from NASDAQ

by Ship & Bunker News Team
Tuesday September 1, 2015

After several prior warnings from NASDAQ this year, Andatee China Marine Fuel Services Corp [NASDAQ:AMCF] (Andantee) Friday said on August 24 it received notice it would be delisted on September 2, 2015.

The latest notice was due to the Chinese supplier's inability to regain compliance having failed to file an Annual Report for the fiscal year ended December 31, 2014, or Quarterly Reports for the periods ended March 31 and June 30, 2015.

Andantee noted it had the option to appeal the decision, but "having considered various factors," declined to do so.

The company will now be transferred to the Pink Sheets at some point on Wednesday.

"The Company intends to regain its compliance with filing requirements of the Securities Exchange Act of 1934, as amended, and complete the 2014 audit and file all outstanding periodic reports as soon as possible," Andantee said.

In June, Andatee announced that they received a Nasdaq notification stating that the company was not in compliance with the minimum $1.00 per share continued listing requirement set forth in Listing Rule 5550(a)(2).

Ship & Bunker News Team
To contact the editor responsible for this story email us at editor@shipandbunker.com