Current Report Filing (8-k)
December 01 2021 - 4:55PM
Edgar (US Regulatory)
0000891532
false
PERMA FIX ENVIRONMENTAL SERVICES INC
0000891532
2021-11-24
2021-11-24
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported) November 24, 2021
PERMA-FIX
ENVIRONMENTAL SERVICES, INC.
(Exact
name of registrant as specified in its charter)
Delaware
.
|
|
001-11596
.
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58-1954497
|
(State or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(IRS Employer
Identification No.)
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8302
Dunwoody Place, Suite 250, Atlanta, Georgia
|
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30350
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(Address
of principal executive offices)
|
|
(Zip
Code)
|
Registrant’s
telephone number, including area code: (770) 587-9898
Not
applicable
|
(Former
name or former address, if changed since last report)
|
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐
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Written
communications pursuant to Rule 425 under the Securities Act
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|
☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class
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Trading
Symbol
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Name
of each exchange on which registered
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Common
Stock, Par Value, $.001 Per Share
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PESI
|
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NASDAQ
Capital Markets
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2
of the Securities Exchange Act of 1934.
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Item
1.02 – Termination of a Material Definitive Agreement
On
November 24, 2021, Perma-Fix Environmental Services, Inc.’s (the “Company”) wholly-owned subsidiary, Perma-Fix Canada
Inc. (“PF Canada”) received a Notice of Termination (“NOT”) from Canadian Nuclear Laboratories, LTD. (“CNL”)
on a Task Order Agreement that PF Canada entered into with CNL in May 2019 for remediation work within Ontario, Canada (“Agreement”).
The NOT was received after most of the work under the Agreement was completed. CNL may terminate the Agreement at any time for convenience.
PF Canada currently has approximately $1.6 million in unpaid receivables and unbilled costs due from CNL as a result of work performed
under the Agreement. Additionally, CNL has approximately $845,000 in contractual holdback under the Agreement that is payable to PF Canada.
CNL has previously established a bond of approximately $1.9 million to cover certain issue raised in connection with the Agreement. Under
the Agreement, CNL may assert a claim against PF Canada to set off certain costs and expenses incurred by CNL in connection with the
termination of the Agreement. PF Canada is currently in discussions with CNL on payment of the amounts due to PF Canada under the Agreement.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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PERMA-FIX
ENVIRONMENTAL SERVICES, INC.
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By:
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/s/
Ben Naccarato
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Ben
Naccarato
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Dated:
December 1, 2021
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Executive
Vice President, Chief Financial Officer and Chief Accounting Officer
|
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