PINGDINGSHAN, China, March 3, 2017 /PRNewswire/ -- Yulong Eco-Materials Limited (NASDAQ: YECO) ("Yulong" or the "Company"), vertically integrated manufacturer of eco-friendly building products located in the city of Pingdingshan in Henan Province, China, today announced that it has received a letter from the NASDAQ Stock Market ("NASDAQ") notifying the Company that it is not in compliance with NASDAQ Listing Rule 5250(c)(1) because it has not filed its Quarterly Report on Form 10-Q for the period ended December 31, 2016 in a timely manner with the Securities and Exchange Commission (the "SEC"). NASDAQ Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the SEC. This delinquency serves as an additional basis for delisting the Company's securities from the Nasdaq Stock Market.
Previously, NASDAQ Staff had granted the Company an exception until April 12, 2017 to file its delinquent Form 10-K for the period ended June 30, 2016 (the "Initial Delinquent Filing") and delinquent Form 10-Q for the period ended September 30, 2016.
About YULONG ECO-MATERIALS LIMITED (NASDAQ: YECO)
Yulong Eco-Materials Limited is a holding company. The Company is a manufacturer of building products. The Company's segments include Yulong Bricks; Yulong Concrete and Yulong Transport, and Yulong Renewable. The Yulong Bricks segment is engaged in the production and sale of fly-ash bricks. The Yulong Concrete and Yulong Transport segment is engaged in the production and sale of ready-mixed concrete. The Yulong Renewable segment is engaged in the hauling and processing of construction waste, and production and sale of recycled aggregates and recycled bricks. The Company produces fly ash bricks and ready-mixed concrete. The Company's construction waste management (CWM) business includes hauling and processing construction waste, and producing crushed construction waste or recycled aggregates, and bricks made from recycled aggregates, or recycled bricks. The Company operates principally from the city of Pingdingshan, Henan Province, in the People's Republic of China.
For additional information on the Company, please go to http://www.yulongecomaterials.com/ or refer to the company's periodic reports filed with the Securities and Exchange Commission.
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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yulong-eco-materials-limited-announces-receipt-of-delinquency-letter-from-nasdaq-relating-to-december-31-2016-form-10-q-300417573.html
SOURCE Yulong Eco-Materials Limited