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DGSE Companies, Inc. (the “Company”) today announced that trading in its common stock has been halted on the American Stock Exchange (the "Exchange"), effective 9:30AM EDT. This trading halt is the result of the Company’s inability to comply with certain information disclosure requirements of the Exchange. As described in its April 16, 2012 press release, the Company is assessing the potential need to restate prior period financial statements.
“While we are disappointed by the trading halt, we are confident that the operation of our business will continue without disruption to our customers, business partners or employees,” said William Oyster, the Company’s Chief Executive Officer and Chairman of the Board. “We have also been pleased by the support we have received from our shareholders, particularly our majority shareholder NTR Metals. NTR is supportive of the process we are currently working through and remains confident that the core business and future outlook for DGSE is strong.”
Oyster continued, “DGSE’s business remains strong, and we have been very pleased with the acquisition of Southern Bullion Trading and its subsequent integration into our operations. Expansion plans also continue to move forward for our 6
th and 7
th locations in the Dallas-Fort Worth Metroplex.”
About DGSE Companies, Inc.
DGSE Companies, Inc. wholesales and retails jewelry, diamonds, fine watches, and precious metal bullion and rare coin products through its Bullion Express, Charleston Gold & Diamond Exchange, Dallas Gold & Silver Exchange, Southern Bullion Coin & Jewelry and Superior Gold & Diamond Exchange operations. DGSE also owns Fairchild International, Inc., one of the largest vintage watch wholesalers in the country. In addition to its retail facilities in Alabama, California, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee and Texas, the Company operates internet websites which can be accessed at
www.sgde.com. Real-time price quotations and real-time order execution in precious metals are provided on another DGSE website at
www.USBullionExchange.com. Wholesale customers can access the full vintage watch inventory through the restricted site at
The Company is headquartered in Dallas, Texas and its common stock trades on NYSE Amex Exchange under the symbol "DGSE."