ATRM Holdings Receives Nasdaq Notification Letter
11 April 2015 - 7:10AM
ATRM Holdings, Inc. (Nasdaq:ATRM) ("ATRM" or the "Company")
announced today that it received a notification letter from the
Listing Qualifications Department of The NASDAQ Stock Market LLC
("Nasdaq"). The letter stated that the Company is not in compliance
with Nasdaq's Rule 5250(c)(1) for continued listing because the
Company has not yet filed with the Securities and Exchange
Commission (the "SEC") its Annual Report on Form 10-K for the
period ended December 31, 2014, and the Company's Quarterly Report
on Form 10-Q for the period ended September 30, 2014.
The Company is in the process of preparing its Quarterly Report
on Form 10-Q for the period ended September 30, 2014 and Annual
Report on Form 10-K for the period ended December 31, 2014, and
intends to file these reports with the SEC as soon as reasonably
practicable.
The Company previously submitted, and Nasdaq accepted, a plan
for the Company to regain compliance with Nasdaq's listing rules,
as a result of which Nasdaq granted the Company an exception until
May 13, 2015 to make all required filings with the SEC. Nasdaq has
informed the Company that it is required to submit an update to its
original plan and inform Nasdaq of its progress made towards
implementing the plan by no later than April 22, 2015. The Company
intends to submit this update within the required timeframe.
About ATRM Holdings, Inc.
ATRM Holdings, Inc. (Nasdaq:ATRM), through its wholly-owned
subsidiaries KBS Builders, Inc. and Maine Modular Haulers, Inc.,
manufactures modular housing units for commercial and residential
applications. ATRM is based in North St. Paul, Minnesota, with
facilities in South Paris and Waterford, Maine. ATRM's website is
www.atrmholdings.com.
Forward-Looking Statements
This press release may contain "forward-looking statements", as
such term is used within the meaning of the Private Securities
Litigation Reform Act of 1995. These "forward-looking statements"
are not based on historical fact and involve assessments of certain
risks, developments, and uncertainties in the Company's business
looking to the future. Such forward-looking statements can be
identified by the use of terminology such as "may", "will",
"should", "expect", "anticipate", "estimate", "intend", "continue",
or "believe", or the negatives or other variations of these terms
or comparable terminology. Forward-looking statements may include
projections, forecasts, or estimates of future performance and
developments. These forward-looking statements are based upon
assumptions and assessments that the Company believes to be
reasonable as of the date hereof. Whether those assumptions and
assessments will be realized will be determined by future factors,
developments, and events, which are difficult to predict and may be
beyond the Company's control. Actual results, factors,
developments, and events may differ materially from those the
Company assumed and assessed. Risks, uncertainties, contingencies,
and developments, including those discussed in the Company's
filings with the Securities and Exchange Commission, could cause
the Company's future operating results to differ materially from
those set forth in any forward-looking statement. There can be no
assurance that any such forward-looking statement, projection,
forecast or estimate contained can be realized or that actual
returns, results, or business prospects will not differ materially
from those set forth in any forward-looking statement. Given these
uncertainties, readers are cautioned not to place undue reliance on
such forward-looking statements. The Company disclaims any
obligation to update any such factors or to publicly announce the
results of any revisions to any of the forward-looking statements
contained herein to reflect future results, events or
developments.
CONTACT: Paul Askegaard
ATRM Holdings, Inc.
(651) 704-1812