Advanced Environmental Recycling Technologies Inc. (AERT) has until June 18, 2008 to raise the price of its common stock. Nasdaq notified the company that it faces delisting, because it failed to meet the minimum bid price requirement when share prices closed below $1 for 30 consecutive business days.
The company has 180 days to regain compliance by raising the bid price to at least $1 per share for a minimum of 10 consecutive business days.
AERT, based in Springdale, Arkansas, manufactures composite building materials, including decking, fence, door and window components, from recycled polyethylene plastic.
CEO Joe Brooks, says the company has closed on $13.5 million in financing to fund the construction of a plastic waste mining and reclamation facility near Watts, Oklahoma that will reduce AERT´s raw material costs.
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