Yulong Eco-Materials Limited (Nasdaq CM:
YECO ) today released it’s 6K filing. On July
20, 2018 the Company announced its receipt of a notification from
NASDAQ that on July 16, 2018, indicating that, as a result of the
Company not timely filing with the Securities and Exchange
Commission (“SEC”) its Current Report on Form 6-K for the
fiscal mid year report ending December 31, 2017, the Company failed
to comply with the periodic filing requirements in NASDAQ Listing
Rule 5250(c)(1). The Company had 45 days until August 30,
2018, to submit to the NASDAQ listing qualifications staff,
pursuant to the request set forth in the notification, a plan to
regain compliance with NASDAQ’s continued listing requirements.
Further, the Company was required to provide Nasdaq with the number
of shares outstanding at the end of each quarter. The Company
confirms that it complied with the outstanding share confirmation
requirement on July 20, 2018 via an electronic upload via the
Nasdaq Listing Center website.
Further, in compliance with Rule IM-5620, the Company held its
Annual General Meeting on August 20, 2018 at 10am at the Company’s
head office: Eastern End of Xiwuzhuang Village Jiaodian Town,
Xinhua Area, Pingdingshan, Henan Province, People’s Republic of
China.
NASDAQ will review all filings and submissions and will revert
back to the Company in regards to compliance.
Under the management of new CEO Hoi Ming Chan and Jason Chan
CFO, the Company has completed all recently requested outstanding
issues for NASDAQ listing compliance.
Further, the Company has signed a Purchase Agreement on August
22, 2018 to acquire the Millennium Sapphire for US$50 million via
the issuance of 25 million restricted YECO shares. The
closing is subject to shareholder and NASDAQ approval, and for an
Appraisal of US$50 million or greater for the Millennium Sapphire,
and must be closed with 60 days.
The Company has called a Special Shareholders meeting for
September 3, 2018 at 10am at the Company headquarters in Henan,
China to vote on the acquisition of the Millennium Sapphire and
company name change, pursuant to the 6K released on August 27,
2018.
About the Millennium Sapphire
The Millennium Sapphire is widely considered and icon in world
of art and gems. It is one of the most documented gemstones of
modern times. Since its discovery in Madagascar in 1995, this
remarkable blue gem has appeared on CNN, BBC, NBC, FOX and numerous
other television networks around the world. It has been written
about in virtually every major newspaper and has been the subject
of articles published in dozens of magazines, such as Forbes, Wall
Street Journal, and others.
Independent gemological laboratory reports on the Millennium
Sapphire include The Gemological Institute of America (GIA),
Gubelin Gemological Laboratory, Switzerland, and the Asian
Institute of Gemological Sciences (AIGS), Thailand. Additionally,
the Millennium Sapphire was recognized in 2001 in the Guinness Book
of records as the largest carved sapphire in the world at 61,500
carats.
World renowned gemologists have commented extensively on the
Millennium Sapphire. “This crystal is the largest single piece of
gem quality sapphire that I know of. It is very rare to see such a
large piece of such good color" said Marcus McCallum, FGA, London.
Garry Du Toit, now with the GIA, Bangkok said “It is definitely gem
grade sapphire, a fine gem blue color. Other famous blue sapphires
can not compare in terms of size, weight and quite possibly color”.
And finally, Christian Dunaigre, formerly with the Gubelin
Gemological Laboratory, Switzerland said “This sapphire is
everyone's dream”.
In their report of 13 November, 2000, Gubelin staff members
Christopher P. Smith and Nicole Surdez commented: The Millennium
Sapphire was an “ornately carved gem” and a “striking art
object”.
The Millennium sapphire was a multi-year design and carving
project directed by Italian artist and designer Alessio Boschi.
Boschi’s designs have been widely published and his art displayed
in internationally respected venues such as the Metropolitan Museum
of Art, New York, and he has won international design competitions
sponsored by Chopard and Charles Perroud S.A.
Boschi’s inspiration for the Millennium Sapphire was to sculpt a
tribute to the creative genius of humanity. Starting from a base of
human figures supporting the four doors of air, water, earth and
fire, the sapphire takes us on an upward winding spiral helix
through history depicting over 134 figures representing the high
points of man’s achievements over the last 5000 years including the
Pyramids of Giza, Confucius, Archimedes, the Great Wall of China,
Julius Caesar, Mayan hieroglyphic writing, Leonardo da Vinci,
Christopher Columbus, Michelangelo, Galileo, Newton, Bach, Mozart,
Beethoven, Benjamin Franklin, Pasteur, Monet, Edison, Einstein,
Charlie Chaplin, Louis Armstrong, Gandhi, Neil Armstrong, Mother
Teresa and a host of others.
The Sapphire Sea, by John Robinson, a fictional novel, was
published in November 2003 which was inspired by the discovery of
the then unnamed Millennium Sapphire. Another book, The
Footstool Of God is currently being written.
About the Millennium Sapphire business
YECO plans to take the Millennium Sapphire on a world tour of
museums around the world as well as to develop documentaries and
include it in the plots of feature films. CEO Hoi Ming Chan
said, “we will develop the business and cash flows of the
Millennium sapphire thru branding and licensing along with
royalties and ticket sales thru major museums world-wide. We will
retain some of the top art and promotions experts globally to
develop and manage this once in a lifetime opportunity.”
About Yulong Eco-Materials Yulong is a
vertically integrated manufacturer of eco-friendly building
products and a construction waste management company located in the
city of Pingdingshan in Henan Province, China. The company is
currently Pingdingshan’s leading producer of fly-ash bricks and
concrete as well as the exclusive provider of construction waste
management services in parts of Pingdingshan and Shangqiu.
Forward-Looking Statements This press release
contains forward-looking statements, particularly as related to,
among other things, the business plans of the Company, statements
relating to goals, plans and projections regarding the Company's
financial position and business strategy. The words or phrases
"plans," "would be," "will allow," "intends to," "may result," "are
expected to," "will continue," "anticipates," "expects,"
"estimate," "project," "indicate," "could," "potentially,"
"should," "believe," "think," "considers" or similar expressions
are intended to identify "forward-looking statements." These
forward-looking statements fall within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Act
of 1934 and are subject to the safe harbor created by these
sections. Actual results could differ materially from those
projected in the forward-looking statements as a result of a number
of risks and uncertainties. Such forward-looking statements are
based on current expectations, involve known and unknown risks, a
reliance on third parties for information, transactions or orders
that may be cancelled, and other factors that may cause our actual
results, performance or achievements, or developments in our
industry, to differ materially from the anticipated results,
performance or achievements expressed or implied by such
forward-looking statements. Factors that could cause actual results
to differ materially from anticipated results include risks and
uncertainties related to the fluctuation of local, regional, and
global economic conditions, the performance of management and our
employees, our ability to obtain financing, competition, general
economic conditions and other factors that are detailed in our
periodic reports and on documents we file from time to time with
the Securities and Exchange Commission. Statements made herein are
as of the date of this press release and should not be relied upon
as of any subsequent date, and the Company specifically disclaims
any obligation, to update any forward-looking statements to reflect
occurrences, developments, unanticipated events or circumstances
after the date of such statement.
YECO has 2.41 million shares issued and outstanding with a float
of 1,012,375 shares. No options or warrants.
Contact: Jason Chan, CFO
Head office Tel +86-375-8888988
Contact Dennis Burns. Investor Relations. Tel 877-561-8101
dburns@nvestrain.com
For more information on the Millennium Sapphire please visit:
www.millenniumsapphire.com
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