Business Wire -- ILX RESORTS INCORPORATED (NYSE Alternext: ILX), a leading developer, operator and marketer of upscale flexible-stay vacation ownership resorts in the western United States, announced that the Company received a letter from NYSE Alternext ("the Exchange") on March 6, 2009 indicating the Exchange’s intent to suspend trading and delist the Company’s common stock. The Exchange has determined the Company is not in compliance with Section 1003(a)(iv) of the Company Guide due to its recent filing of Chapter 11 under the U.S. Bankruptcy Code and Section 1002(b) due to low market capitalization of the common stock. The Company does not intend to appeal the determination. The Company plans to apply to be quoted on the Pink Quote system.
