JLI Jesup & Lamont, Common Stock

LONGWOOD, Fla., July 6 /PRNewswire-FirstCall/ -- Jesup & Lamont Inc. (Amex: JLI), today announced that on Thursday, July 1, 2010 it received notice from the NYSE Amex, LLC that its shares of common stock were subject to removal from listing on the Exchange pursuant to Section 1003(a)(iv) of the Company Guide in that its financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether to Company will be able to continue operations and/or meet its obligations as they mature; and Section 1003(c)(i) of the Company Guide in that the Company has discontinued a substantial portion of its operations.  Furthermore, in accordance with commentary .01 to Section 1009 of the Company Guide, Staff has determined that given the Company's financial impairment and significant reduction in operations and for the protection of investors, it is appropriate to initiate immediate delisting proceedings.  The Company has a right, for a limited period of time to appeal this determination, but has not yet made a decision as to whether to exercise this right.

SOURCE Jesup & Lamont Inc.