Advanced Emissions Solutions (ADES) receives a notice that it's not in compliance with Nasdaq's listing rules following the company's failure to file its 10-K annual report for 2013 by the April 1 deadline.
The reason for the failure is Advanced Emissions' review of its financial reporting, such as its historical revenue-recognition policy for equipment contracts and the effectiveness of its internal controls.
Advanced Emissions has 60 calendar days to file the 10-K in order to regain compliance or request an extension of up to an additional 120 days. The company expects to meet the 60-day timeframe. (PR)