Safety First Trust Principal-Protected Trust Certificates Linked TO The S&P 500 Index (AMEX:AMM)
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AMS Health Sciences, Inc. (AMEX:AMM) today announced
that on March 31, 2006, the Company received a letter from the
American Stock Exchange ("AMEX") notifying the Company that the AMEX
has determined that the Company has made a reasonable demonstration of
its ability to regain compliance with AMEX's continued listing
standards by the end of the Plan period, which the AMEX set at July
12, 2007.
The Company received a letter from the AMEX on January 12, 2006
giving the Company notice that it did not currently meet the AMEX's
continued listing standards as set forth in Part 10 of the AMEX
Company Guide (the "Company Guide"). Specifically, the Company is not
in compliance with Section 1003(a)(ii) of the Company Guide, which
provides that AMEX will consider suspending or delisting securities of
a company that has shareholders' equity of less than $4,000,000 and
has losses from continuing operations and/or net losses in three out
of its four most recent fiscal years. The Company's shareholders'
equity as reported on its Form 10-KSB for the year ended December 31,
2005 was $2,519,389 and the Company recorded net losses for the 2005,
2004 and 2003 fiscal years.
The Company was required to submit a plan to AMEX to regain
compliance with AMEX's continued listing standards (the "Plan"), which
it did on February 13, 2006.
During the Plan period, the AMEX will continue the listing of the
Company. The Company is required to provide the AMEX with updates in
conjunction with the Plan as appropriate, but in any event, no later
than at each quarter, with the Company's filing of its Forms 10-QSB
with the Securities and Exchange Commission. Additionally, the AMEX
staff will review the Company's operations periodically for compliance
with the Plan. If the Company is not making progress consistent with
the Plan, the AMEX staff will review the circumstances and may
immediately commence delisting proceedings, if necessary.
At the end of the Plan period, July 12, 2007, the Company must be
in compliance with all of the AMEX continued listing standards or the
AMEX staff will most likely initiate delisting proceedings against the
Company.
About AMS
AMS Health Sciences sells more than 60 natural nutritional
supplements, weight management products and natural skincare products
through independent distributors across the U.S. and Canada. More
information about the Company is available at
http://www.amsonline.com.