Bexil Corporation (Amex: BXL) confirmed that it received a notice of failure to satisfy a continued listing standard from the American Stock Exchange on April 20, 2005 relating to its obligation to file a Form 10-KSB for the fiscal year ended Dec. 31, 2004.
The Exchange advised Bexil that the timely filing of such reports is a condition for the Bexil’s continued listing.
Previously, Bexil had announced that it had submitted a notification of late filing due to delays in concluding the new client acceptance process with its new auditors. Bexil’s Form 10-KSB filing is currently expected by May 20, 2005.
In response to the notice, Bexil said it discussed developments with the Exchange staff. Bexil also indicated that it intends to submit a plan of compliance to the Exchange by May 4, 2005, advising the Exchange of action it has taken, or will take, that would bring Bexil into compliance by no later than June 15, 2005.
Bexil Corporation announced today that effective April 13, 2005 its board accepted the resignation of Tait, Weller & Baker as the company’s independent registered public accounting firm and has engaged Deloitte & Touche LLP as its new independent registered public accounting firm.
Bexil Corporation is a holding company operating businesses directly or through companies in which it has a majority or other substantial interest. Bexil’s primary business is comprised of its 50 percent interest in privately held York Insurance Services Group, Inc. Since the 1930’s, York’s affiliates have served as third party administrators and independent adjusters providing claims data and risk related services to insurance carriers, self insureds, public entities, brokers, and other intermediaries.
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