Dear Ellie,
Here is the press release. The good news just keeps coming.
Consolidated Eco-Systems Inc. Announces Affirmance of Delisting by Nasdaq Stock
Market, Inc. and Announces Personnel Changes
LITTLE ROCK, Ark.--(BUSINESS WIRE)--April 10, 1998--Consolidated Eco-Systems, Inc.(OTC: EXSO - news) today announced that it has
received notification from Nasdaq Stock Market, Inc. that the Company's delisting from the Nasdaq SmallCap Market had been affirmed. The
Company was delisted by the Nasdaq Qualifications Hearing Panel as of October 13, 1997. The delisting was affirmed by the Nasdaq Listing and
Hearing Review Counsel.
The decision insures that the Company's stock will not be listed again on the Nasdaq SmallCap Market as the result of the Nasdaq appeals process.
The Company does not intend to pursue any additional appeal in the matter.
In other matters, the Company announced that the Company's relationships with Edward M. Penick, Jr., Samuel Williams, and Vance Fairchild had
been terminated. Mr. Penick served as the Company's Chief Financial Officer from February, 1997 until February, 1998, and had acted on behalf of
the Company's Eco-Systems subsidiary since that time. The Company is currently continuing its search for a Chief Financial Officer. Mr. Penick's
relationship as a director of the Company has also been terminated.
Mr. Williams joined the Company in September, 1997, and had served as the Company's Chief Operating Officer. More recently, he served as
President of the now defunct 7-7, Inc. subsidiary. Mr. Fairchild had served as an executive vice-president of consulting with the Company.
Consolidated Eco-Systems, Inc. (www.consolidatedeco.com) is a diversified technology and service company providing state-of-the-art technical
solutions for problems in site remediation, hazardous waste cleanup services, civil and environmental engineering, management and environmental
consulting, and remediation project management.
This press release contains forward-looking statements with respect to the results of operations and business of the Company that involves risks and
uncertainties. These risks and uncertainties are detailed from time-to-time in the Company's filing with the Securities and Exchange Commission,
including the Company's Report on Form 10-K for the year ended December 31, 1996 and on Form 10-Q for the quarters ended March 31, 1997,
June 30, 1997, and September 30, 1997.
Contact:
Consolidated Eco-Systems Inc.
James J. Connors Jr., 334/621-9989
or
Sam Sexton III, 501/664-7745
Regards,
Chris |
