Fountain Powerboat gets nasty gram!

3706 Views 49 Replies 20 Participants Last post by US1Fountain, Aug 26, 2008

ghart

Discussion Starter · Jun 18, 2008

Fountain Powerboats Receives Non-Compliance Letter From the American Stock Exchange

June 17, 2008: 04:30 PM EST

In a Report on Form 8-K filed today with the Securities and Exchange Commission, Fountain Powerboat Industries, Inc. (AMEX: FPB) (the "Company") reported that, on June 11, 2008, it received notice from the American Stock Exchange ("Amex") that, based on Amex's review of the Company's Quarterly Report on Form 10-Q for the period ended March 31, 2008, the Company is not in compliance with one of Amex's standards for the continued listing of the Company's common stock as set forth in Part 10 of the Amex Company Guide (the "Company Guide"). Specifically, the notice states that "...the Company is not in compliance with Section 1003(a)(iv) of the Company Guide in that it has sustained losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, whether such company will be able to continue operations and/or meet its obligations as they mature.

1 - 20 of 50 Posts

Duke69

· #2 · Jun 18, 2008

"in the opinion of the Exchange, whether such company will be able to continue operations and/or meet its obligations as they mature."

That don't look good, maybe someone will be buying Fountain and Baja now....

GRH

· #3 · Jun 18, 2008

Truth is many Companies recieve the same boiler plate notice quarterly.... it requires an explaination in addition to the standard 10-Q.... don't get too excited about Fountains demise quite yet..... just another formula owner showing their jealousy :laugher:

axkiker

· #4 · Jun 18, 2008

GRH said:
Truth is many Companies recieve the same boiler plate notice quarterly.... it requires an explaination in addition to the standard 10-Q.... don't get too excited about Fountains demise quite yet..... just another formula owner showing their jealousy :laugher:

:laugher: :laugher: :laugher: :laugher: :laugher: :laugher: :laugher: :laugher:

ghart

Discussion Starter · #5 · Jun 18, 2008

GRH said:
Truth is many Companies recieve the same boiler plate notice quarterly....

While I agree many companies get this letter, they only get it one time, then they are delisted from the exchange.

Fact is, Fountain has been on a long death trail for some time now. The fork is about to be shoved into this puppy! :bigsmile:

GRH

· #6 · Jun 18, 2008

ghart said:
While I agree many companies get this letter, they only get it one time, then they are delisted from the exchange.

Fact is, Fountain has been on a long death trail for some time now. The fork is about to be shoved into this puppy! :bigsmile:

And Crude oil will be how much per barrel by when :laugher:

cfm

· #7 · Jun 18, 2008

They only need to sell our government 10 boats to get back in the black.

:dead: :laugher:

ghart

Discussion Starter · #8 · Jun 18, 2008

GRH said:
And Crude oil will be how much per barrel by when :laugher:

You already know my prediction for that, you can add Fountain being delisted by the end of 2008 too!

The first potential foreclosure is June 30, 2008 for the 14.5 Mil debt they are currently not performing to agreement, so it could happen sooner rather then later! :laugher:

cfm

· #9 · Jun 18, 2008

Ghart - when are you running for office ? Please let us know ahead of time for I'll need time to think about my two choices: run and hide or vote for you.

:laugher:

GRH

· #10 · Jun 18, 2008

cfm said:
Ghart - when are you running for office ? Please let us know ahead of time for I'll need time to think about my two choices: run and hide or vote for you. :laugher:

Whatever he decides.... will of course be the right decision

cfm

· #11 · Jun 18, 2008

GRH said:
Whatever he decides.... will of course be the right decision

I expect no less of our politicians and/or decision makers ! :winker:

ghart

Discussion Starter · #12 · Jun 18, 2008

Thank You for your support

:

HTRDLNCN

· #13 · Jun 18, 2008

Doesnt Brunswick own Fountain?
I doubt they would care if Fountain loses money,they can cover
a LOT of losses just to keep the name in their stable.

UP_ROKTOY

· #14 · Jun 18, 2008

GRH said:
Whatever he decides.... will of course be the right decision

is he ever wrong?

ghart

Discussion Starter · #15 · Jun 18, 2008

HTRDLNCN said:
Doesnt Brunswick own Fountain?
I doubt they would care if Fountain loses money,they can cover
a LOT of losses just to keep the name in their stable.

Held the debt for a few years until they dumped it on some unsuspecting investor! :shocked:

Rattlesnake Jake

· #16 · Jun 18, 2008

I thought Mercury took over Fountain, or part of it.

tcob

· #17 · Jun 18, 2008

maybe some foreign company will step in and snap it up and brunswick as well . our cheap dollar makes it easy for more foreigners to own our as s . if busch / budweiser changes hands , i'll change brands. but are there any american owned brewers left ?

axkiker

· #18 · Jun 18, 2008

tcob said:
maybe some foreign company will step in and snap it up and brunswick as well . our cheap dollar makes it easy for more foreigners to own our as s . if busch / budweiser changes hands , i'll change brands. but are there any american owned brewers left ?

who owns miller??

Marmaduke

· #19 · Jun 18, 2008

SAB Miller owns Miller a South African Company.

Marmaduke

· #20 · Jun 18, 2008

Sorry they are in London UK. Not South African Bavaria that is what the SAB stands for.

1 - 20 of 50 Posts

This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.