Aqua Metals Meets Nasdaq Compliance Requirements for Continued Listing
June 30 2020 - 4:05PM
Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”),
which is reinventing lead recycling with its AquaRefining™
technology, announced today that it has regained full compliance
with the minimum bid price requirement in Nasdaq Rule 5550(a)(2) by
achieving a closing bid price for the Company’s common stock of at
least $1.00 per share over a minimum of 10 consecutive business
days.
About Aqua MetalsAqua Metals,
Inc. (NASDAQ: AQMS) is reinventing lead recycling with its patented
AquaRefining™ technology. Unlike smelting, AquaRefining is a room
temperature, water-based process that emits less pollution. The
modular systems are intended to allow the Company to vastly reduce
environmental impact and scale lead acid battery recycling
production capacity by licensing the AquaRefining technology to
partners. This could help to meet growing demand for lead to power
new applications including stop/start automobile batteries which
complement the vehicle’s main battery, lead acid batteries which
are in electric vehicles, Internet data centers, alternative energy
applications including solar, wind, and grid scale storage. Aqua
Metals is based in McCarran, Nevada. To learn more, please
visit www.aquametals.com.
Safe HarborThis press release
contains forward-looking statements concerning Aqua Metals, Inc.
Forward-looking statements include, but are not limited to, our
plans, objectives, expectations and intentions and other statements
that contain words such as “expects,” “contemplates,”
“anticipates,” “plans,” “intends,” “believes,” “estimates,”
“potential” and variations of such words or similar expressions
that convey uncertainty of future events or outcomes, or that do
not relate to historical matters. The forward-looking statements in
this press release include our expectations for the development and
completion of our the V1.25 electrolyzer and the benefits of the
V1.25 electrolyzer and the future of lead acid battery recycling
via traditional smelters. Those forward-looking statements involve
known and unknown risks, uncertainties and other factors that could
cause actual results to differ materially. Among those factors are:
(1) the risk that we may not be able to complete the development of
our V1.25 electrolyzer; (2) the risk that we may not realize the
expected benefits from our V1.25 electrolyzer; (3) the risk that
our insurance recovery from our claims relating to the November
2019 fire at our TRIC facility and proceeds from the sale of legacy
assets will not be sufficient to fund our accelerated licensing
strategy; (4) the risk that we may not be able to satisfactorily
demonstrate to potential licensees the technical and commercial
viability of our V1.25 electrolyzer and AquaRefining process; (5)
the risk that licensees may refuse or be slow to adopt our
AquaRefining process as an alternative to smelting in spite of the
perceived benefits of AquaRefining; (6) the risk that we may not
realize the expected economic benefits from any licenses we may
enter into; (7) the risk that we will have to engage in additional
sales of our equity securities in order to fund our future
operations; (8) the risk that further funding, by any means, may
not be available at all; (9) the risk that our common stock may be
delisted from the Nasdaq Capital Market due to our inability to
regain compliance with Nasdaq’s minimum bid price or audit
committee composition requirements; (10) the fact that we have not
generated any significant revenue to date, thus subjecting us to
all of the risks inherent in an early-stage company; (11) the risk
that our patents and any other patents that may be issued may be
challenged, invalidated, or circumvented; (12) the risk that we may
not realize the expected benefits of our relationship with Veolia;
(13) the risk that we may not be able to successfully conclude our
proposed joint development agreement with Clarios or, if we do,
realize the expected benefits of such agreement; (14) changes in
the federal, state and foreign laws regulating the recycling of
lead acid batteries; (15) our ability to protect our proprietary
technology, trade secrets and know-how and (16) those other risks
disclosed in the section “Risk Factors” included in our Quarterly
Report on Form 10-Q filed on April 30, 2020 and subsequent SEC
filings. Aqua Metals cautions readers not to place undue reliance
on any forward-looking statements. The Company does not undertake,
and specifically disclaims any obligation, to update or revise such
statements to reflect new circumstances or unanticipated events as
they occur, except as required by law.
Contact: Glen Akselrod, Bristol Capital(905) 326-1888, Ext.
1glen@bristolir.com
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