AMS Health Sciences, Inc. Receives Non-Compliance Notification from AMEX
17 Januar 2006 - 11:10PM
Business Wire
AMS Health Sciences, Inc. (AMEX:AMM), announced today that on
January 12, 2006 the American Stock Exchange (the "AMEX") notified
the Company that the Company is not in compliance with AMEX's
continued listing standards as set forth in Part 10 of the AMEX
Company Guide. Specifically, the Company is not in compliance with
Section 1003(a)(ii) of the Company Guide, which provides that AMEX
will consider suspending or delisting securities of a company that
has shareholder's equity of less than $4,000,000 and has losses
from continuing operations and/or net losses in three out of its
four most recent fiscal years. The Company's shareholder's equity
as reported on its Form 10-Q for the quarter ended September 30,
2005 was $3,737,460 and the Company has recorded net losses for the
2004, 2003 and 2002 fiscal years. In order to maintain its AMEX
listing, the Company must submit a plan by February 12, 2006
advising the AMEX of action the Company has taken or will take that
would bring it in compliance with Section 1003(a)(ii) of the AMEX
Company Guide within a maximum of 18 months from the date the
Company received the non-compliance letter. The Company plans to
make a timely submission to the AMEX staff in which it will outline
the timeframe within which the Company intends to cure the listing
deficiency and to regain its compliance with the AMEX continued
listing requirements. If the Company's plan is accepted, the
Company may be able to continue its listing during the plan period,
which can be as long as 18 months, during which time the Company
will be subject to periodic review by the AMEX to determine whether
the Company is making progress consistent with its plan. AMS Health
Sciences, Inc. sells more than 60 natural nutritional supplements,
weight management products, and natural skincare products through
independent distributors across the U.S. and Canada. More
information about the Company is available at
http://www.amsonline.com.
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