I will be truely amazed if they can have one boat built for the Miami show. Is it true they hired some guys from Earl Scheib since no one would teach them in gel graphics?

Will they make it?
 

from a Fountain press release-

In a Report on Form 8-K filed today with the Securities and Exchange Commission, Fountain Powerboat Industries, Inc. (AMEX: FPB) (the "Company") reported that, on June 11, 2008, it received notice from the American Stock Exchange ("Amex") that, based on Amex's review of the Company's Quarterly Report on Form 10-Q for the period ended March 31, 2008, the Company is not in compliance with one of Amex's standards for the continued listing of the Company's common stock as set forth in Part 10 of the Amex Company Guide (the "Company Guide"). Specifically, the notice states that "...the Company is not in compliance with Section 1003(a)(iv) of the Company Guide in that it 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, whether such company will be able to continue operations and/or meet its obligations as they mature.

As a result of the circumstances described above, the notice states that the Company has become subject to Amex's suspension and delisting procedures set forth in Section 1009 of the Company Guide. The Company must submit a plan to Amex by July 11, 2008, addressing how it intends to regain compliance with Section 1003(a)(iv) of the Company Guide, including specific milestones, quarterly financial projections and details related to any strategic initiatives it plans to complete. Amex's Listings Qualifications Department will evaluate the Company's plan and make a determination as to whether the Company has made a reasonable demonstration of an ability to regain compliance within the specified timeframe. If the Company's plan is accepted, it may be able to continue its listing during the plan period, subject to periodic reviews to determine whether the Company is making progress consistent with the plan.

If the Company does not submit a plan, or if any plan it submits is not accepted by Amex, the Company will be subject to delisting proceedings. Likewise, even if a plan the Company submits is accepted by Amex, but the Company is not in compliance with all continued listing standards of the Company Guide by December 11, 2008, or if the Company does not make progress consistent with the plan during the plan period, Amex may initiate delisting proceedings.

The Company currently intends to carefully evaluate how it will respond to Amex's letter, including whether it will be able to submit a plan with a viable chance of success. This will require the Company to talk with its lenders and evaluate its expenses and sources of revenues. The Company previously reported in a Report on Form 8-K that it has acquired assets to build Baja boats. It will evaluate how that new line of boats and any new business resulting from it will fit in with any plan it may develop to respond to Amex's notice. Until the Company's Board of Directors evaluates the recommendations of the Company's officers with respect to a plan, the Company is unable to make any more definite statement about its intention to submit a plan or its prospects for submitting an acceptable plan.

Jimmy, do you have a cousin Marty McFly?

I'd say about 90% of the companies that get de-listed and go into the pink sheets are in bankruptcy proceedings within 12-18 months. Greg, they did you a favor. I don't have good feelings about this one.

Perhaps the regulators didn't like the exhorbitant line item on the balance sheet for Grecian Formula...

:eek::rolleyes:

They are a hell of a good boat. There are a lot of them still on the water and in the last eyar I have seen some really good buys out there.

They are BIG, they ride very well and have a nice cuddy. They take a LOT of horsepower but the most famous one of all was the Baja official APBA Pace Boat and it was FAST!

One thing I like is they put radar arch on many of them and I think that really sets them apart from other boats.

You'll need a real truck to safely pull one.

You don't need Grecian Formula for a rug!

As a matter of fact I do, do you know him? Sometimes he goes by Dave.........

Fountain Powerboats adding 250 jobs in NC
Tuesday July 22, 10:43 am ET
Fountain Powerboats will add 250 new jobs in North Carolina county to build new boat line

RALEIGH, N.C. (AP) -- A North Carolina motorboat maker will add 250 jobs over the next five years at its company headquarters in Beaufort County as it builds a new boat line.
Gov. Mike Easley announced Monday the $12 million expansion at Fountain Powerboats Inc., located along the Pamlico River.

Fountain will expand to begin building the Baja boat line that it purchased earlier this year from Brunswick Corp.

The overall average wage from the new jobs will be $35,800 plus benefits. That's more than the Beaufort County average of about $28,000 annually.

Easley's office said the company could receive up to $2.5 million in incentive grants should it create enough jobs and sustain them for 11 years under an agreement with the state.

That's a step in the right direction!!