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HIGHLANDS RANCH, Colo., June 11, 2014 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (Nasdaq:ADES) (the "Company") today announced that NASDAQ has granted the Company an exception to NASDAQ Listing Rule 5250(c)(1) ("the Rule") to enable the Company to regain compliance with the Rule. As previously announced, the Company is not in compliance with the Rule because its Form 10-K for the fiscal year ended December 31, 2013 (the "Form 10-K") and Form 10-Q for the period ended March 31, 2014 (the "Form 10-Q") were not filed on a timely basis.
On June 2, 2014, the Company submitted to NASDAQ its plan to regain compliance with the Rule. Based on this submission, NASDAQ granted an exception under the terms that on or before September 29, 2014, the Company must file any and all delinquent periodic reports as required by the Rule. In the event the Company does not satisfy the terms, NASDAQ will provide written notification that its securities will be delisted. At that time, the Company may appeal NASDAQ's determination to a Hearings Panel.
The Company's management team, Audit Committee, and recent appointments including the Audit Committee Chairman, Chief Accounting Officer, and Corporate Controller, and all finance and accounting personnel continue to work diligently to expedite providing any requested information to its auditors and finalize the necessary reviews so that the Form 10-K and Form 10-Q can be filed and the Company can regain compliance with the Rule as swiftly as possible.
About Advanced Emissions Solutions, Inc.
Advanced Emissions Solutions, Inc. (Nasdaq:ADES) serves as the holding entity for a family of companies that provide emissions solutions to customers in the power generation and other industries.