Home Solutions of America Receives Request from NASDAQ for Additional Information
June 26 2006 - 4:46PM
Business Wire
Home Solutions of America, Inc. (AMEX: HOM), a provider of
recovery, restoration and rebuilding/remodeling services, announced
today that there will be a delay in listing its common stock on the
NASDAQ National Market, due to the time it will take NASDAQ to
review additional information provided by the Company last week. In
the interim, the Company's common stock will continue to trade on
the American Stock Exchange ("AMEX") under the symbol HOM. "We
understand the NASDAQ's request for additional information, which
we have provided them on a timely basis," said Frank J. Fradella,
Chairman and CEO of Home Solutions. "We expect the information we
sent them will enable the listing process to move forward
expeditiously, and will allow investors to again focus on the
fundamentals of the business. Should the NASDAQ request additional
information, we intend to respond promptly." On June 12th, the
NASDAQ Staff approved the listing of the Company's stock, which was
to have become effective with the commencement of trading on June
27th (see Form 8-K
http://www.sec.gov/Archives/edgar/data/855424/000100329706000260/
ex991.htm which contains a copy of the Letter from the NASDAQ).
(Due to its length, this URL may need to be copied/pasted into your
Internet browser's address field. Remove the extra space if one
exists.) Home Solutions is a provider of recovery, restoration and
rebuilding/remodeling services to commercial and residential areas
that are (i) prone to flooding, hurricanes, tornados, fires or
other naturally occurring and repetitive weather related
emergencies; and/or (ii) experiencing robust housing development.
The Company has operations in California, Texas, Florida, Alabama,
Georgia, Louisiana, Mississippi and South Carolina through its five
subsidiaries, Cornerstone Building and Remodeling, Southern
Exposure, P.W. Stephens, Home Solutions Restoration of Louisiana
and Fiber Seal Systems. Cornerstone is a leading supplier and
installer of granite materials for kitchens and baths to national
home centers, as well as national builders and remodeling
companies, in the southeastern United States. Southern Exposure and
related companies is a provider of cabinet and countertop
installation services in the Florida marketplace. P.W. Stephens
provides mold and asbestos remediation services, and fire and water
restoration services in California, Florida and Louisiana. Home
Solutions Restoration of Louisiana provides Recovery Restoration
Services in Florida, Louisiana, Mississippi and Texas and Fiber
Seal Systems is a national licensor of cleaning and fabric
protection businesses. For more information on Home Solutions,
please see the Company's website at http://www.homcorp.com/
Statements included in this update that are not historical in
nature are intended to be, and are hereby identified as,
"forward-looking statements" for purposes of the safe harbor
provided by Section 21E of the Securities Exchange Act of 1934, as
amended by Public Law 104-67. Forward-looking statements may be
identified by words including "anticipate," "believe," "intends,"
"estimates," "expect," and similar expressions. The Company
cautions readers that forward-looking statements including, without
limitation, those relating to the Company's future business
prospects are subject to certain risks and uncertainties that could
cause actual results to differ materially from those indicated in
the forward-looking statements, due to factors such as those
relating to economic, governmental, technological, and other risks
and factors identified from time to time in the Company's reports
filed with the SEC.
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