American Defense Systems EAG announced today that it has received notice from NYSE Amex LLC (the "Exchange") that the staff of the Exchange had determined that the Company has not made progress consistent with its previously announced Plan of Compliance (the "Plan") and, accordingly the Exchange deems it appropriate to initiate delisting proceedings with regard to the Company's common stock (the "Determination"). In accordance with Section 1203 and 1202(b) of the Company Guide, the Company has a limited right to appeal the Determination. The Company intends to appeal the determination on or before September 21, 2011. The Company intends to appeal the determination on or before September 21, 2011 and request a hearing before a committee of the Exchange. There can be no assurance that the Company's request for continued listing will be granted.
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