CHESTNUT RIDGE, N.Y., May 27, 2022 /PRNewswire/ -- Renovare Environmental, Inc. (Nasdaq: RENO; "Renovare" or "the Company") announced today that it received notice from Nasdaq on May 24, 2022 stating that the Company was not in compliance with the rules for continued listing, Rule 5250(c)(1), because it has not timely filed its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022.
As the Company reported in its Form 12b-25 filed with the SEC, the Company could not file its Quarterly Report on Form 10-Q for the three month period ended March 31, 2022 on or prior to the filing deadline due to the fact that certain amounts required further confirmation and analysis. The Company continues to work diligently to conclude the review and will file the Form 10-Q as soon as practicable. The Notification Letter has no immediate effect on the listing of the Company's common stock on the Nasdaq.
Until the Company regains compliance, quotation information for the Company's common stock will include an indicator of the Company's non-compliance. As previously disclosed, the Company previously had a hearing before Nasdaq at which time the Company submitted a plan to regain compliance with other delisting notices. If the Company does not regain compliance within the time provided by the Staff for this and other requirements, the Company's securities will be delisted from Nasdaq.
Renovare Environmental, Inc. (Nasdaq: RENO), formerly BioHiTech Global, Inc., is a technology services company providing cost-effective solutions that improve environmental outcomes. Its solutions for waste management include the biological disposal of food waste, and proprietary real-time data analytics tools to reduce food waste generation. When used individually or in combination, our solutions lower the carbon footprint associated with organic waste transportation and can reduce or virtually eliminate landfill usage. Our unique solutions enable businesses and municipalities of all types, as well as educational and governmental facilities to solve everyday problems in a smarter and more cost-effective way while reducing their impact on the environment.
The statements in this release include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, those including such words as "anticipates," "believes," "remains," "will," and the negatives thereof or other comparable terminology, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements also include other passages that are relevant to expected future events, performances, and actions or that can only be fully evaluated by events that will occur in the future. Forward-looking statements in this release include, without limitation, the Company's statements regarding its business prospects, its expectations and its and others' actions with respect to the investigation and related matters, expected financial condition and results. There are many factors, risks and uncertainties that could cause actual results to differ materially from those predicted or projected in forward-looking statements including, but not limited to, the findings of the investigation, accountants and other third parties, finalization of its financial statements and controls review, and factors, risks, and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission.
For More Information:
Renovare Environmental, Inc.
SOURCE Renovare Environmental, Inc.