The TSX published a press release yesterday stating that it will be desisting Poseidon Concepts Corp. The Calgary-based oilfield services company has been grappling with a number of problems, including the discovery that most of its revenue in the first nine months of 2012 was improperly booked and must be restated.
From the TSX press release:
TORONTO , April 17, 2013 /CNW/ – DELISTING REVIEW Poseidon Concepts Corp. (the “Company”) – Further to TSX Bulletin 2013-0347 dated April 10, 2013 , TSX has determined to delist the Common Shares (Symbol: PSN) of the Company at the close of market on May 17, 2013 for failure to meet the continued listing requirements of TSX. The Common Shares are currently halted due to the imposition of a Cease Trade Order. Additionally, TSX’s suspension from trading will remain in effect.