MINNEAPOLIS, Sept. 8, 2017 /PRNewswire/ -- Appliance
Recycling Centers of America (Nasdaq: ARCI) (the "company"), a
leading provider of utility appliance recycling programs, announced
today that on September 6, 2017 it
received notification from the Listing Qualifications Department of
The Nasdaq Stock Market ("Staff") that the company has regained
compliance with Listing Rule 5550(a)(2).
On May 31, 2017, Staff notified
the company that its common stock failed to maintain a minimum
bid price of $1.00 over the previous
30 consecutive business days as required by the Listing Rules
of The Nasdaq Stock Market. Since then, Staff has determined that
for the last 10 consecutive business days, from August 21, 2017 to September 1, 2017, the closing bid price
of the company's common stock has been at $1.00 per share or greater. Accordingly, the
company is now fully compliant with all NASDAQ rules and this
matter is now closed.
About ARCA
ARCA's business components are uniquely positioned to work
together to provide a full array of appliance-related services.
ARCA's regional centers process appliances at end of life to remove
environmentally damaging substances and produce material byproducts
for recycling for utilities in the U.S. and Canada. Eighteen company-owned stores under
the name ApplianceSmart, Inc.® sell new appliances directly to
consumers and provide affordable ENERGY STAR® options for energy
efficiency appliance replacement programs.
Forward Looking Statements
This press release contains statements that are forward-looking
statements as defined within the Private Securities Litigation
Reform Act of 1995, including statements regarding ARCA's future
success. These forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from the statements made, including the risks associated with the
general economic conditions, competition in the retain and
recycling industries and regulatory risks. Other factors that could
cause operating and financial results to differ are described in
ARCA's periodic reports filed with the Securities and Exchange
Commission. Other risks may be detailed from time to time in
reports to be filed with the SEC.
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SOURCE Appliance Recycling Centers of America