USA: JD American Workwear Removes Listing From OCTBB
JD American Workwear, Inc (OTCBB:JDAWE) announced today that the listing of its common stock on the Over The Counter Bulletin Board (OTCBB) had been removed on September 13, 2000. The listing was removed for non-compliance with the requirements to timely file audited financial statements with the Form 10KSB for the period ending February 29, 2000 and the withdrawal of the auditors opinion on the fiscal 1999 financial statements as reported in the 8K filing dated August 11, 2000.The audited financial statements are currently undergoing the final review stages and the company expects the Form 10KSB/A to be filed before the end of September 2000. These financial statements will accurately depict the financial conditions of the company and be inclusive of all charges related to various Preferred Stock issuances and the proper accounting for the value of each series and the associated warrants or preferences attached.Upon return to full compliance the company will immediately request to be re-listed on the OTCBB. No further trading will occur until the re-listing is accomplished.During this period of non-compliance, the company intends to complete the restructuring previously announced and emerge as a larger and stronger conglomerate that will add significant value to its shareholders and position the company for future growth and profitability. The company will not resemble its former self by the end of September 2000 as it diversifies its holdings and restructures its management. The company will seek shareholder approval at a shareholders meeting expected to be held within forty-five days of its return to compliance, for a name change to American Commerce Solutions, Inc, to more accurately reflect its restructured operations.
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