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Cubic Energy, Inc.
QBC
announces that by letter dated July 27, 2012, the
NYSE MKT LLC, formerly NYSE Amex, LLC (the "Exchange") notified Cubic that
the Exchange has accepted the Company's request for extension of the plan
period until December 31, 2012 to regain compliance with Section 1003(a)(iv)
of the NYSE MKT Company Guide (the "Company Guide").
On March 2, 2012, the Exchange provided Cubic with notice that the Company
is not in compliance with Section 1003(a)(iv) of the Company Guide in that
the Exchange believed that the Company has sustained losses which are so
substantial in relation to its overall operations or its existing financial
resources, or its financial condition has become so impaired that it appears
questionable, in the opinion of the Exchange, as to whether the Company will
be able to continue operations and/or meet its obligations as they mature.
In that March 2, 2012 letter, the Company was originally given until July
31, 2012 to regain compliance with Section 1003(a)(iv).
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