ABLE News Able Energy, Inc. Requests Voluntary Delisting of Securities from Nasdaq Capital Market
ROCKAWAY, N.J.--(BUSINESS WIRE)--Able Energy, Inc. (“Able”)
announced today that it has provided formal notice to the Nasdaq Stock
Market of its intention to voluntarily delist the Company’s
securities from Nasdaq Capital Market. The Board of Directors of the
Company believes this action is in the best interests of the
stockholders since it should allow the Company to complete the
transactions which were previously approved by its stockholders,
including the Company’s purchase of certain of
the assets of All American Plazas, Inc. The Company had previously filed
an initial listing application with Nasdaq to reflect its transaction
with All American, and the Company does not believe that approval of
such application is imminent.
The Company requested that Able common stock be delisted from the Nasdaq
Capital Market as of the start of trading on Friday, October 13, 2006.
The last trading day for the Company common stock on the Nasdaq Capital
Market is contemplated to be Thursday, October 12, 2006.
The Company believes that its common stock will be eligible for listing
on the NASD Over-the-Counter Bulletin Board (OTCBB), and anticipates the
Company’s common stock to be quoted on the
OTCBB under the symbol "ABLE" following its delisting from the Nasdaq
Capital Market.
Able is a holding company for five operating subsidiaries, which are
engaged in the retail distribution of, and the provision of services
relating to, home heating oil, diesel fuel, and kerosene. In addition,
Able provides complete HVAC installation and repair.
This announcement includes forward-looking statements based on current
expectations. Opinions, forecasts, projections or statements other than
statements of historical fact, are forward-looking statements that
involve risks and uncertainties. Forward-looking statements in this
announcement are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Although the Company
believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Actual results may differ
materially due to a number of reasons, including without limitation,
that the Company has no prior experience constructing any Plant or
facility for the production of biodiesel fuel, the availability of
sufficient capital resources to carryout the Company's anticipated level
of development and construction of the Plants, competition, general
market conditions, and other risks detailed in the Company's filings
with the Securities and Exchange Commission. You can find the Company's
filings with the Securities and Exchange Commission at www.ableenergy.com
or at www.sec.gov. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of this
release.
