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American Resources receives Nasdaq noncompliance notice

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American Resources receives Nasdaq noncompliance notice

American Resources Corp. received a letter from the Nasdaq Stock Market that the company is not in compliance with the exchange's listing rule, after the closing bid price of the company's common stock fell below the minimum $1 for the last 30 consecutive business days.

The company has until April 6, 2020, to regain compliance by having its common stock close at $1 per share or more for a minimum of 10 consecutive business days. If not, the exchange may grant the company another 180 days to meet the minimum bid price requirement as long as it complies with other listing standards.

American Resources' common stock will be subject to delisting if it fails to regain compliance with the minimum bid price requirement, according to an Oct. 11 filing.