AMS Health Sciences Announces AMEX's Acceptance of its Plan to Regain Compliance with the AMEX's Continued Listing Standards.OKLAHOMA CITY Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm -- AMS AMS - Andrew Message System Health Sciences, Inc. (AMEX AMEX See: American Stock Exchange :AMM AMM Autorisation de Mise sur le Marche (French) AMM Autorisation de Mise sur le Marché (French: Commission of Marketing Authorization) AMM ASEAN Ministerial Meeting AMM American Metal Market ) today announced that on March 31, 2006, the Company received a letter from the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. ("AMEX") notifying the Company that the AMEX has determined that the Company has made a reasonable demonstration of its ability to regain compliance with AMEX's continued listing standards by the end of the Plan period, which the AMEX set at July 12, 2007. The Company received a letter from the AMEX on January 12, 2006 giving the Company notice that it did not currently meet the AMEX's continued listing standards as set forth in Part 10 of the AMEX Company Guide (the "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 shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. of less than $4,000,000 and has losses from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the and/or net losses in three out of its four most recent fiscal years. The Company's shareholders' equity as reported on its Form 10-KSB for the year ended December 31, 2005 was $2,519,389 and the Company recorded net losses for the 2005, 2004 and 2003 fiscal years. The Company was required to submit a plan to AMEX to regain compliance with AMEX's continued listing standards (the "Plan"), which it did on February 13, 2006. During the Plan period, the AMEX will continue the listing of the Company. The Company is required to provide the AMEX with updates in conjunction with the Plan as appropriate, but in any event, no later than at each quarter, with the Company's filing of its Forms 10-QSB with the Securities and Exchange Commission. Additionally, the AMEX staff will review the Company's operations periodically for compliance with the Plan. If the Company is not making progress consistent with the Plan, the AMEX staff will review the circumstances and may immediately commence delisting proceedings, if necessary. At the end of the Plan period, July 12, 2007, the Company must be in compliance with all of the AMEX continued listing standards or the AMEX staff will most likely initiate delisting proceedings against the Company. About AMS AMS Health Sciences sells more than 60 natural nutritional supplements Nutritional Supplements Definition Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements, and other related products used to boost the nutritional content of the diet. , 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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