Micron Solutions maintains NYSE listing
Photo | City of Fitchburg
Micron Solutions' facility in Fitchburg
Fitchburg contract manufacturer Micron Solutions is back in good standing with the New York Stock Exchange until December 2020.
The update comes after the exchange threatened to delist the company due to equity in the company being below $4 million and annual losses.
According to the company’s balance sheet from its second quarter earnings report, shareholder equity was just $3.2 million.
The company lost $1.1 million in 2018, $1.3 million in 2017, $712,000 in 2016 and $792,000 in 2015.
To maintain the listing, Micron Solutions has to provide quarterly updates to NYSE staff concurrent with annual filings to the U.S. Securities and Exchange Commission.
Micron announced this summer several organizational changes to the company, including the hiring of new Chief Financial Officer Wayne Coll, changes to its board of directors and the sale of unused buildings for $685,000.
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