PALO ALTO, Calif., March 14, 2022 /PRNewswire/ -- AeroCentury
Corp. ("AeroCentury" or the "Company") (NYSE American: ACY), today
announced it has received written notice from the NYSE American LLC
(the "NYSE American") that the Company has regained compliance with
continued listing standards outlined in Part 10 of the NYSE
American Company Guide (the "Company Guide").
As previously disclosed, the Company received notice from
the NYSE American on September 11,
2020 that it was not in compliance with Section 1003(a)(i) –
(iii) of the Company Guide. Subsequently, the Company received
notice from the NYSE American on May 28,
2021 that it was not in compliance with Section 1003(a)(ii)
of the Company Guide.
As a result of management's efforts, on March 11, 2022, the NYSE American informed the
Company that it has regained compliance with all of
the NYSE American continued listing standards set forth in Part 10
of the Company Guide.
About AeroCentury: AeroCentury (the "Company") is a
holding company located in Palo Alto,
California with two subsidiaries: Mega Metaverse Corp., a
California corporation ("Mega")
and JetFleet Management Corp. a California corporation ("JetFleet"). The
Company focus on GameFi business through Mega and will continue to
focus on third-party management service contracts for aircraft
operations through our majority owned subsidiary JetFleet, which
was part of our legacy business. For more information, please
visit: http://www.aerocentury.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. All statements in
this press release other than statements that are purely historical
are forward-looking statements. When used in this press release,
the words "estimates," "projected," "expects," "anticipates,"
"forecasts," "plans," "intends," "believes," "seeks," "may,"
"will," "should," "future," "propose," and variations of these
words or similar expressions (or the negative versions of such
words or expressions) are intended to identify forward-looking
statements. These forward-looking statements are not guarantees for
future performance, conditions or results, and involve a number of
known and unknown risks, uncertainties, assumptions and other
important factors, many of which are outside the Company's control,
that could cause actual results or outcomes to differ materially
from those discussed in the forward-looking statements. Important
factors, among others, are: the ability to manage growth; ability
to identify and integrate other future acquisitions; ability to
obtain additional financing in the future to fund capital
expenditures; fluctuations in general economic and business
conditions; costs or other factors adversely affecting the
Company's profitability; litigation involving patents, intellectual
property, and other matters; potential changes in the legislative
and regulatory environment; a pandemic or epidemic. The
forward-looking statements in this press release and the Company's
future results of operations are subject to additional risks and
uncertainties set forth under the heading "Factors that May Affect
Future Results and Liquidity" in documents filed by the Company
with the Securities and Exchange Commission, including the
Company's quarterly reports on Form 10-Q and the Company's latest
annual report on Form 10-K, and are based on information available
to the Company on the date hereof. In addition, such risks and
uncertainties include the Company's inability to predict or control
bankruptcy proceedings and the uncertainties surrounding the
ability to generate cash
proceeds through the sale or other monetization of the Company's
assets. The Company undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law. Readers are cautioned not to place undue reliance
on forward-looking statements, which speak only as of the date of
this press release.
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SOURCE AeroCentury Corp.