Lime Energy Co. Announces Revised Filing Schedule

Lime Energy Co. Announces Revised Filing Schedule

Lime Energy announced today a revised schedule for filing its delinquent
periodic reports and its restatement of the years ended December 31, 2008,
December 31, 2009, December 3, 2010 and December 31, 2011 and the quarter
ended March 31, 2012.

HUNTERSVILLE, N.C., June 26, 2013 (GLOBE NEWSWIRE) -- via PRWEB - Lime Energy
Co. (Nasdaq:LIME) (the "Company") today announced a revised schedule for
filing its delinquent periodic reports and its restatement of the years ended
December 31, 2008, December 31, 2009, December 3, 2010 and December 31, 2011
and the quarter ended March 31, 2012 (the "Affected Periods"). As previously
disclosed, the Company's Audit Committee has determined that the Company's
consolidated financial statements for the Affected Periods could not be relied
on.

The Company now expects to file its Annual Report on Form 10-K for the year
ended December 31, 2012 and (the "2012 10-K") and its Quarterly Report on Form
10-Q for the quarter ended September 30, 2012 (the "3rd Quarter 2012 10-Q") on
or before July 31, 2013, and its Quarterly Report on Form 10-Q for the quarter
ended March 31, 2013 (the "1st Quarter 2013 10-Q") on or before August 9,
2013. The 2012 10-K will reflect the restatement of the years ended December
31, 2008, December 31, 2009, December 3, 2010 and December 31, 2011 (the
"Affected Annual Periods"). The 3rd Quarter 2012 10-Q will include the
restated financial statements for the quarter ended March 31, 2012 (the
"Affected Quarterly Period") and the financial statements for the quarter
ended June 30, 2012.

As previously disclosed, the Company received a notice from the NASDAQ Listing
Qualifications Staff (the "NASDAQ Staff") on January 9, 2013 regarding the
Company's failure to satisfy NASDAQ Listing Rule 5250(c)(1) because the
Company had not filed its Quarterly Reports on Form 10-Q for the periods ended
June 30, and September 30, 2012, and that as a result the Company's common
stock was subject to delisting from the NASDAQ Stock Market. The Company has
since received notices of additional deficiencies from the NASDAQ Staff
related to the Company's failure to file the 2012 10-K and the 1st Quarter
201310-Q. The Company requested a hearing before the NASDAQ Hearings Panel
(the "Panel") to review the listing determination and to request that the
Panel grant the Company additional time to regain compliance on February 21,
2013 and on March 6, 2013, the Panel granted the Company's request for
continued listing of its common stock on the NASDAQ Stock Market, subject to
certain conditions, including the conditions that on or before June 30, 2013,
the Company shall file restated financial statements for the Affected Periods,
that it shall file its Form 10-Q for the 2012 quarterly periods on or before
July 31, 2013 and that it shall file its Form 10-K for 2012 and Form 10-Q for
the first quarter of 2013 on or before August 9, 2013.

The Company has requested that the Panel modify the conditions of its decision
to remove the requirement that separate filings of restated financial
statement be made but to require that the 2012 10-K, as described above, be
filed on July 31, 2013 rather than August 9, 2013, and the 3rd Quarter 2012
10-Q, as described above, be filed on or before July 31, 2013. The Company
cannot assure that the Panel will grant its request.

Cautionary Statement

This press release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act
of 1934. Forward-looking statements are subject to known and unknown risks and
uncertainties, many of which may be beyond our control. We caution you that
the forward-looking information presented in this press release is not a
guarantee of future events, and that actual events and results may differ
materially from those made in or suggested by the forward-looking information
contained in this press release. In addition, forward-looking statements
generally can be identified by the use of forward-looking terminology such as
"may," "plan," " "will," "expect," "intend," "estimate," "anticipate,"
"believe" or "continue" or the negative thereof or variations thereon or
similar terminology. A number of important factors could cause actual events
and results to differ materially from those contained in or implied by the
forward-looking statements, including how promptly we are able to complete the
2012 10-K , the 3rd Quarter 10-Q and the 1st Quarter 2013 10-Q (each as
described in this Report) and whether the Panel grants our request to modify
the conditions of its decision, as well as those factors discussed in our
Annual Report on Form 10-K, filed on March 16, 2012 with the SEC, which can be
found at the SEC's website http://www.sec.gov, each of which is specifically
incorporated into this press release. Any forward-looking information
presented herein is made only as of the date of this press release, and we do
not undertake any obligation to update or revise any forward-looking
information to reflect changes in assumptions, the occurrence of unanticipated
events, or otherwise.

Contacts:
Investor Relations
Ashley Conger
(704) 892-4442
aconger(at)lime-energy(dot)com

This article was originally distributed on PRWeb. For the original version
including any supplementary images or video, visit
http://www.prweb.com/releases/2013/6/prweb10876759.htm

CONTACT: Lime Energy
         Ashley Conger
         aconger@lime-energy.com
         704-892-4442
 
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