Enservco Corp: Nasdaq/NYSE listing notice — Enservco receives NYSE American noncompliance notice; equity below $2M requirement

Enservco Corp

Stockholders' equity was ~$1.2M at Dec 31, 2022, below NYSE American's $2M minimum.
Company has until June 9, 2024 to regain compliance; NYSE accepted a cure plan.
Steps taken: $3.5M equity offering in Feb 2023 and $1.1M debt-to-equity conversion by Cross River Partners.
Additional $2.5M debt-to-equity conversion subject to shareholder vote at June 13, 2023 Annual Meeting.
No immediate effect on listing or trading of ENSV common stock.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Enservco Corp received a nyse_american noncompliance notice notice regarding stockholders equity (rules 1003(a)(i), 1003(a)(ii), 1003(a)(iii)).

Exchange: nyse american
Notice: noncompliance notice
Deficiency: stockholders equity
Rules: 1003(a)(i), 1003(a)(ii), 1003(a)(iii)

Exact text from the filing

from continuing operations and/or net losses in two of its three most recent fiscal years. As reported in its Form 10-K, the Company’s stockholders’ equity was approximately $1.2 million. The Company remains noncompliant with Section 1003(a)(ii) and Section 1003(a)(iii) of the Company Guide as reported on Company’s Form 8-K filed December 15, 2022 and Form 10-K.

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Source: SEC EDGAR

accession 0001437749-23-013066

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