Camber Energy Discloses Communication From NYSE American
Camber Energy, Inc. (NYSE American:CEI) announced on January 4, 2022, that it received a compliance notification from NYSE American regarding its failure to hold an annual meeting for the fiscal year ending December 31, 2020, by the December 31, 2021 deadline. The company plans to address this by scheduling the annual meeting after filing several overdue reports, including its Form 10-K and Form 10-Qs for 2021. Although a 'BC' indicator will be attached to its trading symbol during this period, the company's operations and SEC reporting are unaffected unless compliance is not achieved, risking delisting.
- The company intends to remedy the compliance issue by scheduling an annual meeting of stockholders.
- Business operations remain unaffected during the compliance process.
- Failure to hold an annual meeting led to a compliance notification from NYSE American.
- The 'BC' indicator on the trading symbol may negatively impact market perception.
- If compliance is not regained, the company could face delisting procedures.
HOUSTON, TX / ACCESSWIRE / January 6, 2022 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company, announced that on January 4, 2022 it received a letter from the NYSE American(the "Exchange") wherein the Exchange advised the Company is not in compliance with the continued listing standards as set forth in Section 704 of the NYSE American Company given the Company did not hold an annual meeting for the fiscal year ended December 31, 2020 by December31, 2021. The Company intends to remedy this delinquency by scheduling an annual meeting of stockholders within a reasonable period following the date on which the Company files the following reports: (i) Form 10-K for the 9-month transition period ended December31,2020; (ii) Form 10-Q for the period ended March 31, 2021; (iii) Form 10-Q for the period ended June 30, 2021, and (iv) Form 10-Q for the period ended September 30, 2021.
Receipt of the letter does not have any immediate effect on the listing of the Company's shares on the Exchange, except that until the Company regains compliance with the Exchange's listing standards, a "BC" indicator will be affixed to the Company's trading symbol.The Company's business operations and SEC reporting requirements are unaffected by the notification, provided that if the delinquency is not cured, then the Company will be subject to the Exchange's delisting procedures.
About Camber Energy,Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
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FAQ
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