American Stock Exchange Accepts Compliance Plan with AMCON
29 Novembre 2006 - 2:00PM
Business Wire
AMCON Distributing Company (�AMCON�) (AMEX:DIT), an Omaha, Nebraska
based consumer products company is pleased to announce that the
American Stock Exchange (�AMEX� or �Exchange�) has accepted the
comprehensive plan of compliance that AMCON submitted on October
11, 2006. As of the filing on November 27, 2006 of the Company�s
Form 10-Q for the period ended June 30, 2006, the Company believes
that it is in compliance with Sections 134 and 1101 of the AMEX
Company Guide. Additionally, the AMEX will continue to list the
Company�s stock provided the Company is in compliance with Section
1003(a) (i) of the AMEX Company Guide by March 11, 2008 and makes
progress toward the goals set forth in the plan which will be
subject to periodic review by the AMEX. Christopher Atayan, AMCON�s
Chief Executive Officer noted �We continue to maintain a close
dialogue with senior officials at the AMEX and are delighted that
they have recognized the progress we are making on our compliance
plan. We value our relationship with the Exchange and look forward
to maintaining our listing and long term relationship with AMEX.�
�Selling the assets of Hawaiian Natural Water Company was a big
step forward in terms of our ability to meet the net worth
requirements as set forth in Section 1003(a) (i) noted Andrew
Plummer, AMCON�s Acting Chief Financial Officer. �Our core
businesses of Wholesale Distribution and Retail Health Food
continue to be profitable, which is a key element of our strategy
moving forward,� continued Plummer. As previously announced, AMCON
is in discussions with respect to the sale of the assets at its
discontinued Trinity Springs water business and will make a further
announcement as circumstances warrant. AMCON is a leading wholesale
distributor of consumer products, including beverages, candy,
tobacco, groceries, food service, frozen and chilled foods, and
health and beauty care products with distribution centers in
Illinois, Missouri, Nebraska, North Dakota and South Dakota.
Chamberlin's Natural Foods, Inc. and Health Food Associates, Inc.,
both wholly-owned subsidiaries of The Healthy Edge, Inc., operate
health and natural product retail stores in central Florida (6),
Kansas, Missouri, Nebraska and Oklahoma (4). The retail stores
operate under the names Chamberlin's Market & Cafe and Akins
Natural Foods Market. This news release contains forward-looking
statements that are subject to risks and uncertainties and which
reflect management's current beliefs and estimates of future
economic circumstances, industry conditions, Company performance
and financial results. A number of factors could affect the future
results of the Company and could cause those results to differ
materially from those expressed in the Company's forward-looking
statements including, without limitation, availability of
sufficient cash resources to conduct its business and meet its
capital expenditures needs. Moreover, past financial performance
should not be considered a reliable indicator of future
performance. Accordingly, the Company claims the protection of the
safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 with respect to all such
forward-looking statements. Visit AMCON Distributing Company's web
site at: www.amcon.com AMCON Distributing Company ("AMCON")
(AMEX:DIT), an Omaha, Nebraska based consumer products company is
pleased to announce that the American Stock Exchange ("AMEX" or
"Exchange") has accepted the comprehensive plan of compliance that
AMCON submitted on October 11, 2006. As of the filing on November
27, 2006 of the Company's Form 10-Q for the period ended June 30,
2006, the Company believes that it is in compliance with Sections
134 and 1101 of the AMEX Company Guide. Additionally, the AMEX will
continue to list the Company's stock provided the Company is in
compliance with Section 1003(a) (i) of the AMEX Company Guide by
March 11, 2008 and makes progress toward the goals set forth in the
plan which will be subject to periodic review by the AMEX.
Christopher Atayan, AMCON's Chief Executive Officer noted "We
continue to maintain a close dialogue with senior officials at the
AMEX and are delighted that they have recognized the progress we
are making on our compliance plan. We value our relationship with
the Exchange and look forward to maintaining our listing and long
term relationship with AMEX." "Selling the assets of Hawaiian
Natural Water Company was a big step forward in terms of our
ability to meet the net worth requirements as set forth in Section
1003(a) (i) noted Andrew Plummer, AMCON's Acting Chief Financial
Officer. "Our core businesses of Wholesale Distribution and Retail
Health Food continue to be profitable, which is a key element of
our strategy moving forward," continued Plummer. As previously
announced, AMCON is in discussions with respect to the sale of the
assets at its discontinued Trinity Springs water business and will
make a further announcement as circumstances warrant. AMCON is a
leading wholesale distributor of consumer products, including
beverages, candy, tobacco, groceries, food service, frozen and
chilled foods, and health and beauty care products with
distribution centers in Illinois, Missouri, Nebraska, North Dakota
and South Dakota. Chamberlin's Natural Foods, Inc. and Health Food
Associates, Inc., both wholly-owned subsidiaries of The Healthy
Edge, Inc., operate health and natural product retail stores in
central Florida (6), Kansas, Missouri, Nebraska and Oklahoma (4).
The retail stores operate under the names Chamberlin's Market &
Cafe and Akins Natural Foods Market. This news release contains
forward-looking statements that are subject to risks and
uncertainties and which reflect management's current beliefs and
estimates of future economic circumstances, industry conditions,
Company performance and financial results. A number of factors
could affect the future results of the Company and could cause
those results to differ materially from those expressed in the
Company's forward-looking statements including, without limitation,
availability of sufficient cash resources to conduct its business
and meet its capital expenditures needs. Moreover, past financial
performance should not be considered a reliable indicator of future
performance. Accordingly, the Company claims the protection of the
safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 with respect to all such
forward-looking statements. Visit AMCON Distributing Company's web
site at: www.amcon.com
AMCON Distributing (AMEX:DIT)
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