PINGDINGSHAN, China, July 25, 2018 (GLOBE NEWSWIRE) -- Yulong Eco-Materials Limited (Nasdaq CM: YECO ) today announced that the Company has targeted the week of August 6th to file its December 31, 2017 financials and regain compliance with NASDAQ. YECO received of a notification from NASDAQ on July 16, 2018, indicating that as a result of the Company not timely filing with the Securities and Exchange Commission (“SEC”) its Annual Report on Form 6-K for the fiscal year ended December 31, 2017 (the “Annual Report”), the Company failed to comply with the periodic filing requirements in NASDAQ Listing Rule 5250(c)(1). Further, the Company was required to provide Nasdaq with the number of shares outstanding at the end of each quarter. The Company complied with this outstanding share confirmation requirement on July 20, 2018 via an electronic upload on the Nasdaq Listing Center website.
Further, in compliance with Rule IM-5620, the Company will hold its Annual General Meeting on August 20, 2018 at 10am at the Company’s head office: Eastern End of Xiwuzhuang Village
Jiaodian Town, Xinhua Area, Pingdingshan, Henan Province, People’s Republic of China. All shareholders are invited to attend.
Under the new management of CEO Hoi Ming Chan and Jason Chan CFO, the Company is now working to complete its Annual Report and regain NASDAQ listing compliance.
CEO, Hoi Chan Ming said: “It is our commitment to keep the Company in full NASDAQ compliance and file on a timely basis from now on.”
About Yulong Eco-Materials
Yulong is a vertically integrated manufacturer of eco-friendly building products and a construction waste management company located in the city of Pingdingshan in Henan Province, China. The company is currently Pingdingshan’s leading producer of fly-ash bricks and concrete as well as the exclusive provider of construction waste management services in parts of Pingdingshan and Shangqiu.
Forward-Looking Statements
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.