Springdale, Arkansas, USA, 28 December 2009 -- (GLOBE NEWSWIRE) -- Advanced Environmental Recycling Technologies, Inc. (Nasdaq:AERT - News), a leading plastic recycler and manufacturer of green building products, announced today that the company has notified the Nasdaq Stock Market of its intent to voluntarily delist its shares and transfer trading of its Class A Common Stock from the Nasdaq Capital Markets to the OTC Bulletin Board.
AERT's shares have been trading on the Nasdaq Capital Markets under an extension granted by the Nasdaq Listing Qualifications Panel since September 2009. The company is currently out of compliance with the minimum bid price of USD 1 per share and the minimum stockholders equity of USD 2.5 million.
"Transferring AERT's trading to the OTC market is the best and most cost-effective option for AERT shareholders in this difficult economic environment," said Joe Brooks, AERT CEO. "It is time to bring closure and stability to this issue while maintaining liquidity and focusing on improving and growing the company in 2010," he said. "This transition will allow AERT shares to continue trading and we look forward to AERT's continued growth on the OTC market."
AERT has requested the transfer take place on 29 December 2009. Nasdaq makes available to investors a list of all non-compliant companies, which is posted at www.nasdaq.com/services/insidenasdaq.stm. As of 22 December 2009, 188 public companieswere listed as out of compliance, including AERT.
Since 1989, AERT (Nasdaq:AERT - News) has pioneered the use of recycled polyethylene plastic in the manufacture of composite building materials. With its constantly evolving portfolio of patented and proprietary recycling technologies, AERT has been widely recognized as a leader in resource conservation innovation. AERT converts reclaimed plastic and wood fiber waste into quality outdoor decking systems, fence systems, and door and window components. AERT operates manufacturing facilities in Springdale and Lowell, Arkansas; a raw materials facility in Junction, Texas; and has a state-of-the-art recycling facility under construction in Watts, Oklahoma. For more information on the company, visit http://www.aertinc.com.