Winland Electronics Announces Receipt of Stock Exchange Compliance Notice
April 17 2012 - 8:00AM
Business Wire
Winland Electronics, Inc. (NYSE Amex: WEX) (“Winland”)
announced that it received a notice from NYSE Amex LLC (the
“Exchange”) indicating that Winland is not in compliance with
certain of the Exchange’s continued listing standards as set forth
in Part 10 of the Exchange’s Company Guide (the “Company Guide”),
and Winland has therefore become subject to the procedures and
requirements of Section 1009 of the Company Guide. Specifically,
Winland was cited by the Exchange for noncompliance with the
following section of the Company Guide:
- Section 1003(a)(iii) – stockholder’s
equity of less than $6,000,000 and losses from continuing
operations and/or net losses in Winland’s five most recent fiscal
years.
Winland has been afforded the opportunity to submit a plan of
compliance to the Exchange by May 11, 2012 that provides for
Winland to regain compliance with Section 1003(a)(iii) by May 29,
2013. If Winland does not submit a plan or if the plan is not
accepted by the Exchange, Winland will be subject to delisting
procedures as set forth in Section 1010 and part 12 of the Company
Guide.
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.