Attached files
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| 8-K - SULPHCO INC | v197420_8k.htm |
Exhibit
99.1
FOR
IMMEDIATE RELEASE
NYSE
Amex Grants an Extension for SulphCo’s Continued Listing
Houston,
TX. September 23, 2010 (GLOBE NEWSWIRE) -- SulphCo, Inc. (the “Company” or
“SulphCo”) (NYSE-Amex: SUF) announced today, that on September 20, 2010, the
Company received notice that the NYSE Amex LLC (the “Exchange”) had accepted the
Company’s plan of compliance (the “Plan”). In accepting the Company’s
Plan, the Exchange granted the Company an extension until December 30, 2011 for
the continued listing of the Company’s common stock and for the Company to
regain compliance with the continued listing standards (the “Plan Period”)
subject to quarterly progress reviews by the Exchange during the Plan
Period.
“We
appreciate the support and the assistance of the Exchange as we develop the
strategy for SulphCo’s future success as a member in good-standing with the
Exchange,” said Larry D. Ryan, SulphCo’s Chief Executive Officer. “We continue
to work toward creating long-term value through the commercialization of our
proprietary desulfurization technology and I am confident our technology
combined with our current strategic initiatives will lead us back into
compliance with all Exchange regulations. We look forward to working with the
Exchange to regain our status as a fully compliant listed member.”
As
previously disclosed, the Company is not in compliance with the Exchange’s
continued listing standards set forth in Sections 1003(a)(ii) and 1003(a)(iii)
of the Exchange’s Company Guide (the “Company Guide”) which set forth minimum
stockholders’ equity and net income requirements for continued
listing.
In July,
the Company submitted its Plan to the Exchange that set forth the actions it had
taken and additional actions that would be taken to return the Company to
compliance with the applicable standards in the Company Guide.
About
SulphCo, Inc.
Houston-based
SulphCo has developed a patented safe and economic process employing ultrasound
technology to alter the molecular structure of crude oil products and crude oil.
The overall process is designed to "upgrade" the quality of crude oil and crude
oil products by modifying and reducing the sulfur and nitrogen content to make
those compounds easier to process using conventional techniques, as well as
reducing the density and viscosity. For more information, please
visit http://www.sulphco.com/.
From
time to time, the Company may issue forward-looking statements, which involve
risks and uncertainties. This statement may contain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as actual
results could differ and any forward-looking statements should be considered
accordingly.
For
further information please contact:
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U.S. Investors & Media
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Jeffrey
R. Freedman
Vice
President of Corporate Development
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SulphCo,
Inc.
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+1
713-896-9100
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