Winland Electronics Announces Receipt of Extension to Regain Compliance with NYSE Amex Continued Listing Standards
June 13 2012 - 9:00AM
Business Wire
Winland Electronics, Inc. (NYSE Amex: WEX) (“Winland”)
announced that on April 11, 2012 it received notice from the NYSE
Amex staff indicating that Winland is below certain of the NYSE
Amex LLC’s (the “Exchange”) continued listing standards due to:
stockholders’ equity of less than $4,000,000 and losses from
continuing operations and/or net losses in three of its four most
recent fiscal years, as set forth in Section 1003(a)(ii) of the
Exchange’s Company Guide; and stockholders’ equity of less than
$6,000,000 and losses from continuing operations and/or net losses
in its five most recent fiscal years ended December 31, 2011, as
set forth in Section 1003(a)(iii) of the Exchange’s Company Guide.
Winland was afforded the opportunity to submit a plan of compliance
to the Exchange, and on May 11, 2012 Winland presented its plan to
the Exchange. On June 11, 2012 the Exchange notified Winland that
it accepted Winland’s plan of compliance and granted Winland an
extension until May 29, 2013 to regain compliance with the
continued listing standards. Winland will be subject to periodic
review by the Exchange staff during the extension period. Failure
to make progress consistent with the plan or to regain compliance
with the continued listing standards by the end of the extension
period could result in Winland being delisted from the NYSE Amex
Exchange.
About Winland
Electronics
Winland Electronics, Inc. (www.winland.com) is an industry
leader of critical condition monitoring devices. Products including
EnviroAlert, WaterBug, TempAlert, Vehicle Alert and more are
designed in-house to monitor critical conditions for industries
including health/medical, grocery/food service,
commercial/industrial, as well as agriculture and residential.
Proudly made in the USA, Winland products are compatible with any
hard wire or wireless alarm system and are available through
distribution worldwide. Headquartered in Mankato, MN, Winland
trades on the NYSE Amex Exchange under the symbol WEX.
Cautionary Statements
Certain statements contained in this press release and other
written and oral statements made from time to time by Winland do
not relate strictly to historical or current facts. As such, they
are considered forward-looking statements, which provide current
expectations or forecasts of future events. The statements included
in this release with respect to meeting the Exchange’s continued
listing standards by May 29, 2013 and that no other events will
jeopardize Winland’s continued listing on the Exchange are
forward-looking. No forward-looking statement can be guaranteed and
actual results may vary materially.