Hudson Technologies Reports Receipt of Deficiency Letter From The Nasdaq Stock Market LLC
August 16 2018 - 4:10PM
Hudson Technologies, Inc. (NASDAQ: HDSN) today announced that it
received a deficiency letter from The Nasdaq Stock Market LLC
(“Nasdaq”) indicating that the Company, as a result of not filing
its Quarterly Report on Form 10-Q for the quarter ended June 30,
2018 by August 14, 2018, was not in compliance with Listing Rule
5250(c)(1) of the Nasdaq Listing Rules (the “Rules”) for continued
listing. Under the Rules, the Company has until October 15,
2018 to submit a plan to Nasdaq to regain compliance and if Nasdaq
accepts such plan, Nasdaq can grant an exception until February 11,
2019 to regain compliance. If Nasdaq does not accept the
Company’s plan, the Company has the opportunity to appeal such
decision to a Nasdaq Hearings Panel. The Company intends to
submit a plan to regain compliance to Nasdaq within the required
time parameters.
At this time, this notification has no effect on
the listing of the Company’s common stock on The Nasdaq Capital
Market.
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider
of innovative and sustainable solutions for optimizing performance
and enhancing reliability of commercial and industrial chiller
plants and refrigeration systems. Hudson's proprietary
RefrigerantSide® Services increase operating efficiency, provide
energy and cost savings, reduce greenhouse gas emissions and the
plant’s carbon footprint while enhancing system life and
reliability of operations at the same time. RefrigerantSide®
Services can be performed at a customer's site as an integral part
of an effective scheduled maintenance program or in response to
emergencies. Hudson also offers SMARTenergy OPS®, which is a
cloud-based Managed Software as a Service for continuous
monitoring, Fault Detection and Diagnostics and real-time
optimization of chilled water plants. In addition, the Company
sells refrigerants and provides traditional reclamation services
for commercial and industrial air conditioning and refrigeration
uses. For further information on Hudson, please visit the Company's
web site at www.hudsontech.com.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
Statements contained herein which are not
historical facts constitute forward-looking statements. Such
forward-looking statements involve a number of known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, but are not limited to,
changes in the laws and regulations affecting the industry, changes
in the markets for refrigerants (including unfavorable market
conditions adversely affecting the demand for, and the price of,
refrigerants), the Company's ability to source refrigerants,
regulatory and economic factors, seasonality, competition,
litigation, the nature of supplier or customer arrangements which
become available to the Company in the future, adverse weather
conditions, possible technological obsolescence of existing
products and services, possible reduction in the carrying value of
long-lived assets, estimates of the useful life of its assets,
potential environmental liability, customer concentration, the
ability to obtain financing, risks associated with the Company’s
joint ventures which include the ability of the parties to perform
their obligations under the joint venture agreements, any delays or
interruptions in bringing products and services to market, the
timely availability of any requisite permits and authorizations
from governmental entities and third parties as well as factors
relating to doing business outside the United States, including
changes in the laws, regulations, policies, and political,
financial and economic conditions, including inflation, interest
and currency exchange rates, of countries in which the joint
ventures may seek to conduct business, the Company’s ability to
successfully integrate ASPEN Refrigerants, Inc, (formerly
Airgas-Refrigerants, Inc.) and any other assets it acquires from
third parties into its operations, and other risks detailed in the
Company's periodic reports filed with the Securities and Exchange
Commission. The words "believe", "expect", "anticipate",
"may", "plan", "should" and similar expressions identify
forward-looking statements. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date the statement was made.
Investor
Relations Contact: John Nesbett/Jennifer BelodeauIMS
Investor Relations (203) 972-9200jnesbett@institutionalms.com |
Company
Contact: Brian F. Coleman, President & COO Hudson
Technologies, Inc. (845) 735-6000 bcoleman@hudsontech.com |
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