Cannon Express Inc. of Springdale, AR, is voluntarily delisting itself from the American Stock Exchange, according to Arkansas Business.com.

Cannon has not traded its shares since Oct. 14, when the company failed to meet listing standards. It was last traded at $1.36 per share.

The company also announced it would file its fiscal and quarterly reports by mid-November.

In 2002, Cannon’s revenue fell from $85.8 million in 2001 to $79.08 million for the fiscal year ending June 30, 2002. Then, the company hired CEOex Inc., a transportation management company from Knoxville, TN.

Acting on CEOex’s recommendation as a financial adviser, founder Dean Cannon resigned as president and CEO in August to allow a CEOex management team to take over. Cannon remains chairman of the board.