Yulong Eco-Materials Limited (NASDAQCM:YECO), today announced its receipt of a notification from NASDAQ on October 14, 2016, indicating that, as a result of the Company not timely filing with the Securities and Exchange Commission (“SEC”) its Annual Report on Form 10-K for the fiscal year ended June 30, 2016 (the “Annual Report”), the Company failed to comply with the periodic filing requirements in NASDAQ Listing Rule 5250(c)(1). The Company has until December 13, 2016, to submit to the NASDAQ listing qualifications staff, pursuant to the request set forth in the notification, a plan to regain compliance with NASDAQ’s continued listing requirements. If the NASDAQ staff accepts the plan, it has discretion to grant up to 180 calendar days (i.e., until April 11, 2017) from the original non-compliance date of the Annual Report for the Company to regain compliance.
The Company expects to timely submit its plan to NASDAQ, and is working diligently to complete the Annual Report and regain NASDAQ listing compliance. However, there can be no assurance regarding the timing or ultimate outcome of this process or the ability of the Company to successfully maintain its NASDAQ listing.
The Company is making this announcement in compliance with NASDAQ Listing Rule 5810(b), which requires prompt disclosure of receipt of a noncompliance letter.
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.