Thermoview (AMEX:THV)
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ThermoView Industries, Inc. Reports Acceptance of Plan for
Regaining Compliance with American Stock Exchange Continued Listing Standards
LOUISVILLE, Ky., June 30 /PRNewswire-FirstCall/ -- ThermoView Industries, Inc.
(AMEX:THV), which designs, manufactures and markets home improvements under the
brand name "THV: America's Home Improvement Company," today announced that the
American Stock Exchange has accepted its submitted plan to regain compliance
with American Stock Exchange continued listing standards.
On April 28, 2005, ThermoView received notice from Exchange staff indicating
that the Company is below certain of the Exchange's listing standards.
Specifically, ThermoView's reported losses from continuing operations over the
last three years coupled with its current negative shareholders' equity does
not satisfy American Stock Exchange listing standards contained in Sections
1003(a)(i) and 1003(a)(ii) of the Company Guide. ThermoView was granted the
opportunity to submit a plan of compliance to the Exchange, and on May 31, 2005
presented its plan to the Exchange. In a June 28, 2005 letter, the American
Stock Exchange accepted ThermoView's plan of compliance and granted the Company
an extension of time until October 30, 2006 to regain compliance with the
continued listing standards. ThermoView will be subject to periodic review by
Exchange staff during the extension period. Failure to make progress
consistent with the plan or regain compliance with the continued listing
standards by the end of the extension period could result in the Company being
delisted from the American Stock Exchange. ThermoView CEO Charles L. Smith
stated, "We are pleased that AMEX has accepted our plan, and we intend to
continue working with AMEX to regain compliance with the listing standards."
About ThermoView Industries, Inc.
ThermoView is a national company that designs, manufactures, markets and
installs high-quality replacement windows and doors as part of a full-service
array of home improvements for residential homeowners. ThermoView's common
stock is listed on the American Stock Exchange under the ticker symbol "THV."
Additional information on ThermoView Industries is available at
http://www.thv.com/.
Safe Harbor Statement
Statements in this news release that are not descriptions of historical facts
are forward-looking statements that are subject to risks and uncertainties.
Words such as "expect," "intends," "believes," "plans," "anticipates" and
"likely" also identify forward-looking statements. All forward-looking
statements are based on current facts and analyses. Actual results may differ
materially from those currently anticipated due to a number of factors
including, but not limited to our history of operating losses, anticipated
future losses, competition, future capital needs, the need for market
acceptance, dependence upon third parties, disruption of vital infrastructure,
general economic downturn and intellectual property rights. All forward-looking
statements are made pursuant to the Securities Litigation Reform Act of 1995.
Additional information on factors that may affect the business and financial
results of the Company can be found in filings of the Company with the
Securities and Exchange Commission.
Contacts:
David A. Anderson, Chief Financial Officer, ThermoView Industries, Inc.,
502-968-2020.
DATASOURCE: ThermoView Industries Inc.
CONTACT: David A. Anderson, Chief Financial Officer of ThermoView
Industries, Inc., +1-502-968-2020
Web site: http://www.thv.com/