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.
About Renovare Environmental,
Inc.
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.
Cautionary Statement Regarding
Forward-Looking Statements
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:
Please visit:
www.renovareenv.com
Company Contact:
Renovare Environmental, Inc.
O: 888.876.9300
E: info@renovareenv.com
Investors:
ir@renovareenv.com
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SOURCE Renovare Environmental, Inc.