Ascendia Brands, Inc. announced that the American Stock Exchange has notified the company of its intention to commence de-listing proceedings under Section 1009(d) of the Amex Company Guide, because Ascendia’s stockholders’ equity does not meet the exchange’s continued listing standards.

According to Ascendia, the company intends to exercise its right to request a review of the staff’s decision to initiate de-listing proceedings. Under the exchange’s rules, such a review must be requested within seven days of the receipt of the de-listing notice and a hearing will be held within 45 days of the filing of the request for review. During this period, the company’s stock will continue to be listed on the exchange.

Ascendia also announced that it is re-evaluating the accounting applied to the acquisition of certain assets from Coty, Inc.