Sunworks Receives Nasdaq Listing Extension to September 16, 2019
March 21 2019 - 8:00AM
Sunworks, Inc. (Nasdaq: SUNW), a provider of solar power solutions
for agriculture, commercial and industrial (ACI), public works and
residential markets, today announced that it has received a listing
extension from the Nasdaq Hearings Panel. The extension
grants the Company until September 16, 2019 to regain compliance
with the Minimum Bid Price requirement for continued listing on The
Nasdaq Capital Market.
As previously disclosed, the Company received
notice from Nasdaq on September 20, 2018, that it was not in
compliance with the Bid Price Requirements for its common stock.
Per Nasdaq rules, the Company was provided an initial 180 calendar
days to regain compliance with the Bid Price Requirement. The
Company provided a plan to cure the deficiency during a second 180
calendar day compliance period by having a closing bid price of at
least $1 per share for a minimum of ten consecutive business days
during the extension period or by effecting, if necessary, a
reverse stock split.
About Sunworks, Inc.
Sunworks, Inc. (NASDAQ:SUNW) is a premier
provider of high performance solar power systems. We are committed
to quality business practices that exceed industry standards and
uphold our ideals of ethics and safety. Sunworks continues to grow
its presence, expanding nationally with regional and local offices.
We strive to consistently deliver high quality,
performance-oriented solutions for customers in a wide range of
industries including agricultural, commercial and industrial,
federal, public works, and residential. Our dedication to
excellence is reflected in our 25-year warranty, a benchmark that
we stand by to support our customers above and beyond their
expectations. Sunworks’ diverse, seasoned workforce includes
distinguished veterans who bring a sense of pride, discipline, and
professionalism to their interaction with customers. All our
employees uphold our company’s guiding principles each day.
Sunworks is a member of the Solar Energy Industries Association
(SEIA) and is a proud advocate for the advancement of solar power.
For more information, visit www.sunworksusa.com
Safe Harbor Statement
Matters discussed in this press release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. When used in this press
release, the words "anticipate," "believe," "estimate," “will,”
"may," "intend," "expect" and similar expressions identify such
forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated,
expressed or implied by the forward-looking statements contained
herein. Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based largely
on the expectations of the Company and are subject to a number of
risks and uncertainties. These risks include, but are not limited
to, risks and uncertainties associated with: the impact of
economic, competitive, regulatory, environmental and other factors
affecting the Company and its operations, markets, products, and
prospects for sales, lower revenues, failure to earn profit, higher
costs than expected, persistent operating losses, ownership
dilution, inability to repay debt, failure of acquired businesses
to perform as expected, the inability to complete projects within
anticipated timeframes and costs, the impact of tariffs imposed by
governmental bodies, the impact on the national and local
economies resulting from terrorist actions, and U.S. actions
subsequently; and other factors detailed in reports filed by the
Company with the Securities and Exchange Commission. We also refer
you to the risks described in “Risk Factors” in Part I, Item 1A of
Sunworks, Inc.’s Annual Report on Form 10-K and in the other
reports and documents we file with the Securities and Exchange
Commission from time to time.
Any forward-looking statement made by us in this
press release is based only on information currently available to
us and speaks only as of the date on which it is made. We undertake
no obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
Investor Relations Contact:
Rob Fink Hayden IR646-415-8972
rob@haydenir.com
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