YULONG ECO-MATERIALS LIMITED (NASDAQ:YECO) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item3.01
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Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On November 22, 2016, the registrant received a letter from The
NASDAQ Stock Market (NASDAQ) noting that because the registrant
had not filed its Quarterly Report on Form 10-Q for the quarter
ended September 30, 2016 (the Quarterly Report) with the
Securities and Exchange Commission (SEC) by its due date, and
because the registrant remains delinquent in filing its Annual
Report on Form10-K for the fiscal year ended June 30, 2016 (the
Annual Report), the registrant does not comply with NASDAQ
Listing Rule5250(c)(1)which requires that NASDAQ-listed companies
file their periodic financial reports with the SEC on a timely
basis.
In accordance with NASDAQs previous letter dated October 14, 2016
(and disclosed in the registrants Current Report on Form 8-K
filed with the SEC on October 19, 2016), the registrant has until
December 13, 2016 to submit a plan to regain compliance with
NASDAQs continued listing requirements to NASDAQ. If the NASDAQ
staff accepts such 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 registrant to
regain compliance.
On November 23, 2016, the registrant issued a press release
regarding the foregoing matters. A copy of the press release is
filed herewith as Exhibit99.1 to this Form8-K and is incorporated
herein by reference.
| Item 9.01 | Financial Statement and Exhibits. |
(d) Exhibits
| Exhibit Number | Description | |
| 99.1 | Press release dated November 23, 2016 |
About YULONG ECO-MATERIALS LIMITED (NASDAQ:YECO)
Yulong Eco-Materials Limited is engaged in the production and sale of fly-ash bricks and ready-mixed concrete in and around the city of Pingdingshan, Henan Province, China. The Company’s business operations are conducted through its consolidated affiliated entities, which are variable interest entities (VIEs). These VIEs include Yulong Bricks, which operates its bricks business and Yulong Concrete and Yulong Transport, which operate its concrete business. The Company operates two plants in Pingdingshan: fly-ash brick plant and concrete plant. The Company produces fly-ash bricks through Yulong Bricks, which operates its brick plant located adjacent to its headquarters in Pingdingshan. The Company produces ready-mixed concrete through Yulong Concrete, which operates its concrete plant approximately five kilometers from its headquarters, and distributes the concrete through Yulong Transport, which operates its fleet of concrete mixer trucks. YULONG ECO-MATERIALS LIMITED (NASDAQ:YECO) Recent Trading Information
YULONG ECO-MATERIALS LIMITED (NASDAQ:YECO) closed its last trading session down -0.08 at 1.59 with shares trading hands.
