UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 20, 2019

 

Appliance Recycling Centers of America, Inc.

(Exact name of registrant as specified in its charter)

 

Nevada 000-19621 41-1454591
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)

 

 

175 Jackson Avenue North, Suite 102, Minneapolis, MN 55343-4565
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (952) 930-9000

 

 

Not Applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b 2 of this chapter).

 

Emerging growth company ☐

 

If any emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

   

 

 

Item 8.01 Other Events.

 

On May 20, 2019, Appliance Recycling Centers of America, Inc. (the “Company”) issued a press release announcing that the Company received notification from the staff (the “Staff”) of The Nasdaq Stock Market (“Nasdaq”) that the Company regained compliance with Listing Rule 5550(a)(2) (the “Rule”), which requires a minimum bid price of $1.00 per share. The Staff notified the Company that it has regained compliance with the Rule and it has closed the matter. The Company is now fully compliant with all Nasdaq listing rules.

 

A copy of the press release announcing the Company’s regaining compliance with the Rule is attached as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No. Description
   
Exhibit 99.1 Press Release dated May 20, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 2 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

   
  Appliance Recycling Centers of America, Inc.
   
Date: May 21, 2019 /s/ Tony Isaac                                                    
 

Tony Isaac

Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 3 

 

Exhibit 99.1

 

Appliance Recycling Centers of America Regains Full Compliance with Nasdaq Listing Rules

 

Minneapolis, MN (May 21, 2019) -- Appliance Recycling Centers of America, Inc. (Nasdaq: ARCI) (“ARCA” or the “company”), a leading provider of utility appliance recycling programs, announced today that on May 20, 2019 it received notification from the Listing Qualifications Department of The Nasdaq Stock Market that the company regained compliance with Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share. The company is now fully compliant with all Nasdaq rules. This matter is now closed.

 

About ARCA

 

ARCA and subsidiaries are in the business of recycling major household appliances in North America by providing turnkey appliance recycling and replacement services for utilities and other sponsors of energy efficiency programs. In addition, through GeoTraq, ARCA is engaged in the development, design and ultimately, ARCA expects, the sale of Mobile IoT modules.

 

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Contact:
Rachel Holmes

Executive Vice President

Appliance Recycling Centers of America, Inc.

Tel: 952-930-9000

Email: rholmes@arcainc.com