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.
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.
Company Contact:
Yulong Zhu, CEO
Email: yulongeco@163.com
Website: http://www.yulongecomaterials.com
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SOURCE Yulong Eco-Materials Limited