OWINGS MILLS, Md.,
April 5,
2023 /PRNewswire/ -- Universal Security Instruments,
Inc. (NYSE Amex: UUU) today announced that on April 3, 2023, the Company received a letter from
NYSE American LLC (the "Exchange") stating that the Company is not
in compliance with the continued listing standards set forth in
Section 704 of the Exchange's Company Guide (the "Company Guide")
as the result of the Company's failure to hold an annual meeting
for the fiscal year ended March 31,
2022 by March 31, 2023.
The Company expects to hold an annual meeting in the fall of
2023, at which time it will regain compliance with the NYSE
American's continued listing standards.
UNIVERSAL SECURITY INSTRUMENTS, INC. is a U.S.-based
manufacturer and distributor of safety and security devices.
Founded in 1969, the Company has an over 50-year heritage of
developing innovative and easy-to-install products, including
smoke, fire and carbon monoxide alarms. For more information on
Universal Security Instruments, visit our website at
www.universalsecurity.com.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Certain matters discussed in this news release
may constitute forward-looking statements within the meaning of the
federal securities laws that inherently include certain risks and
uncertainties. Actual results could differ materially from
those projected in or contemplated by the forward-looking
statements due to a number of factors, including, among other
items, currency fluctuations, the impact of current and future laws
and governmental regulations affecting us and other factors which
may be identified from time to time in our Securities and Exchange
Commission filings and other public announcements. We do not
undertake and specifically disclaim any obligation to update any
forward-looking statements to reflect occurrence of anticipated or
unanticipated events or circumstances after the date of such
statements. We will revise our outlook from time to time and
frequently will not disclose such revisions publicly.
Contact: Harvey Grossblatt,
President
Universal Security Instruments, Inc.
410-363-3000, Ext. 224
or
Don Hunt, Jeff Lambert
Lambert, Edwards & Associates, Inc.
616-233-0500
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SOURCE Universal Security Instruments, Inc.