AMEX warns Arcadia
SOUTHFIELD, Mich. - The American Stock Exchange notified Arcadia Resources on Feb. 14 that the provider no longer complies with AMEX's listing requirements due to an unfilled seat on its board of directors. Until Arcadia regains compliance, it will trade under the symbol KAD.BC. Anna Maria Nekoranec resigned from Arcadia's board and audit committee Jan. 28, 2007, to become a consultant to the provider. Without her, the board has two independent directors and two employed executive officers; the audit committee has two independent directors. AMEX requires a listed company's board to consist of a majority of independent directors and its audit committee to consist of at least three independent directors. AMEX has given Arcadia until May 14, 2007, to regain compliance. If the provider fails to do so, the exchange will begin delisting proceedings.