The American Stock Exchange (AMEX) has approved Asconi's plan to regain compliance with certain of its continued listing standards. The company's listing is being continued pursuant to an extension.

In April, the Eastern European wine and spirits producer was advised that its failure to file fiscal 2004 figures on time meant that it was not in compliance with AMEX currency in public reporting continued listing standards. At the end of May, after Asconi issued a plan of compliance, the AMEX granted Asconi an extension until 15 June.

The company said yesterday (2 June) that it filed its 2004 Annual Report on 26 May, which included 2003 consolidated financial statements. Asconi is in a long-running dispute with its auditor, Michaelson & Co, which will not allow Asconi to reuse its report on the fiscal 2003 financial statements in the fiscal 2004 report.

"There is no assurance that the company will be able to complete the re-audit of its 2003 consolidated financial statements by the 15 June deadline," the company warned.