GRAND RAPIDS — Riviera Tool Co. has received a warning letter from the American Stock Exchange for non-compliance regarding late filing of its SEC Form 10-K and for non-conformance with audit committee requirements.
AMEX has given Riviera until Dec. 27 to file its Form 10-K and a deadline of Jan. 31, 2005, to comply with AMEX audit committee guidelines that require an audit committee comprised of three independent directors.
Riviera, which currently has two rather than the requisite three independent directors on its audit committee, indicated Tuesday that it’s actively seeking an additional director for the committee.
The company previously had requested and received an extension on the filing of its Form 10-K for the fourth quarter and year ended Aug. 31 from the Securities and Exchange Commission. The SEC provides companies facing “extenuating circumstances” a 15-calendar-day extension for annual reports.
Riviera filed for the extension Nov. 30 and its 10-K filing date was pushed to Dec. 15. But Riviera announced Dec. 16 that it was once again delinquent in filing the form because it “was awaiting pertinent independent information required in analyzing any potential asset impairment charges pertaining to the Aug. 31, 2004, financial statements.”