July 6, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Fortune Industries, Inc. (AMEX: FFI) said it has been notified by the NYSE AMEX in a letter dated July 2, 2010, that it is not in compliance with Section 803(B)(2)(c) of the NYSE AMEX Company Guide, in that the company's audit committee is not comprised of at least two independent directors.

The non-compliance is a result of the May 7, 2010, resignation of one of its independent directors, who also served on the company's audit committee.

Fortune Industries has until the earlier of its next annual shareholders' meeting or one year from the occurrence of the event that caused the failure to comply with the requirement to regain compliance.

The company said it is currently interviewing potential candidates for the position of independent director and audit committee member, and expects to have the position filled by the required timeframe.

Indiana-based Fortune Industries is a professional employer organization to small and medium-sized businesses in 47 states, providing human resource management & consulting, training & compliance, risk management, and benefits administration.

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