Fountain Powerboat Delisted From Stock Exchange

Fountain Powerboat Industries is no longer being traded on the New York Stock Exchange.

The Beaufort County boat manufacturer was notified last month that it faced delisting from the Stock Exchange because of problems with its financial health.

Fountain announced today that it's common stock began trading Monday on Pink Sheets, under the new symbol FPWB. Companies that trade on Pink Sheets not required to meet minimum requirements or file with the SEC.

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It looks like a Beaufort County boat builder will be removed from the New York Stock Exchange as early as next week.

Fountain Powerboat Industries has until Monday to appeal a staff decision that it be delisted from the Stock Exchange and that trading of its stock be immediately suspended. Fountain's board of directors says the company will not appeal because it doesn't think with the current economic conditions it cannot regain compliance with the stock exchange in the near future.

Fountain President Reggie Fountain is optimistic heading into the future. Fountain says, "We are a much more lean company than we were before and if the economy comes back just a little and as it traditionally does this time of year in March and April we'll be able to get through it."

Last June Fountain was notified that it was in danger of being delisted. The Stock Exchange said the company had sustained substantial loses and that it appeared questionable whether the company would be able to continue operations. It said it was also concerned that Fountain had lost money in two of the past three years.

After it is delisted, Fountain's common stock will be quoted in the Pink Sheets under a new trading symbol.

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  • by Anonymous on Feb 18, 2009 at 04:06 AM
    Hey reggie , the boating industry usually did come back in March and April, However the economy was not as bad as it is now and we had a real president in office not a celebrity with his vogue wife!
  • by Anonymous on Feb 11, 2009 at 08:31 AM
    This is an example, on a local level, of exactly what's happening on Wall Street and the auto industry. A CEO laying off employees to maintain his ludicris income & lavish lifstyle. Watch the video, Reggie could've sold that gaudy Aztec necklace and kept a few people on the payroll. We're on the same planet, you're just not young enough to catch the pop culture references.
  • by Obama Snake Oil Co Location: Washington on Feb 11, 2009 at 06:49 AM
    Let me clarify the statement; boats are not ruining NC, they create jobs. To accuse boats of trashing the shore, remember, you will pay a $10,000-$100,000 fine. Your point was you grew up on the beach like me, well, in those days you got away with anything including sueage. The boating industry is cleaner now than ever before. So to clarify they are destroying the coast and wildlife, no, most people are smarter than they used to be. George W, if you are aware of that turn them into the coast guard like you are supposed to. The point is if you knew, ignorance is no excuse, that dumping oil in the sound would cost you $100K wouldn't that deter you? Boating laws are far more extreme than car laws.
  • by Lee Location: S-Path on Feb 10, 2009 at 07:37 PM
    To: Obama Snake Oil Co Location: Washington on Feb 10...You know, you should really re-read your post before sending it. If you will notice, you disagreed with me, and in turn said the same things that I said, better than I said it in the first place. HELLO...and, Anonymous on Feb 10, 2009...Aztec? You are not even on the same Planet with the rest of us...
  • by Anonymous on Feb 10, 2009 at 06:29 PM
    Anonymous on Feb 10, 2009 at 06:34 PM.....Looks like you missed a lot more....Duh What r u talking about...
  • by Anonymous on Feb 10, 2009 at 03:34 PM
    I missed what he was saying about layoffs & losing money... distracted by the glare from that Gangstalicious gold chain. Is that Aztec?
  • by George W on Feb 10, 2009 at 01:58 PM
    Fisherman USED to dispose oil right in the water? Have you been to Wanchese harbor latley?
  • by someone on Feb 10, 2009 at 12:05 PM
    obviously bush's tax cuts did NOTHING! The "greed is good" mantra got us into this whole mess. doing nothing and delays do not help at all!
  • by VBush Location: MHCY on Feb 10, 2009 at 12:05 PM
    Fountain and a host of other boat manufacturers are on the verge of shutting the doors. Look for more stories like this in the months to come.
  • by Obama Snake Oil Co Location: Washington on Feb 10, 2009 at 10:17 AM
    Funny, I have grown up on the beach and never seen any changes that were not an improvement over what onece was. Sorry Lee, I don't buy it. Fisherman used to dispose oil right in water, trash used to litter the beaches and industry used to dump whatever they had into the waterways. I am not sure where you get your information, I get mine from NCDF, from but you need to solicit more facts. You must have come from the Jersey shore because NC water is cleaner than ever. So, this feeble attempt to scream foul is just that foul. I suppose your sailboat is wood and so is your bicycle? I sure hope you don't have a car. Vbush, yep, tree huggers don't care if someone looses their job unless it is their own. Now with the chosen one pushing this liberal agenda, every job is in danger. The "wealthy" that can afford boats like Fountain, have closed their check books since the chosen one has threated taxing capitol gains. Well, if you voted for him, you voted yourself out of a job.
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