05:40 PM EDT, 06/13/2024 (MT Newswires) -- Enservco ( ENSV ) said Thursday it has provided an updated plan to regain compliance with the NYSE American listing requirements that includes operational changes, securing debt and credit to increase shareholders' equity.

The plan includes switching from seasonal frac water heating to hot oiling and energy logistics services by acquiring Buckshot Trucking.

The updated plan also includes an agreement for $10 million equity line of credit, conversion of $2.2 million debt to equity and issuing $1.3 million equity for the Buckshot deal, according to Enservco ( ENSV ).

"We are working closely with the NYSE American through their formal appeals process to cure our deficit and bring Enservco's ( ENSV ) stockholder's equity to a minimum of $6.0 million through execution of the updated plan," Chief Executive Rich Murphy said.

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