Altair Nanotechnologies Reports Receiving a Nasdaq Non-Compliance Letter
RENO, NV -- (Marketwired) -- 04/23/14 -- Altair Nanotechnologies,
Inc. ("Altair") (NASDAQ: ALTI), reports the Company received a
non-compliance letter from the Nasdaq Stock Market ("Nasdaq").
On April 16, 2014, Altair received a letter from Nasdaq indicating
that Altair was not in compliance with the continuous listing rules
due to its failure to file its Annual Report on Form 10-K for the
year ended December 31, 2013 (the "Annual Report") on a timely basis.
Under the rules, Altair has 60 days to submit a plan to regain
compliance and if the plan is accepted, Altair could be granted up to
180 calendar days from the Annual Report's due date, or until October
13, 2014, to regain compliance. Altair will also be added to Nasdaq's
list of non-compliant companies.
Altair expects to file its Annual Report as soon as practical and
expects to submit a plan to regain compliance within the timelines
prescribed by the letter and Nasdaq rules.
About Altair Nanotechnologies Inc.
Altair is a leading provider of
high-power, energy storage systems for the electric grid, industrial
equipment and transportation markets. The company's lithium titanate
technology is built on a proprietary nano-scale processing technology
that creates high-power, rapid-charging battery systems with
industry-leading performance and cycle life. Altair is headquartered
in Anderson, Indiana and maintains operations in Reno, Nevada;
Zhuhai, China; and Wu'an, China. For additional information, please
This report may contain forward-looking
statements as well as historical information. Forward-looking
statements, which are included in accordance with the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995,
may involve risks, uncertainties and other factors that may cause
Altair's actual results and performance in future periods to be
materially different from any future results or performance suggested
by the forward-looking statements in this report. These risks include
the risk that Altair will unable to file the Annual Report prior to
the submission of its plan to Nasdaq or within any extension period,
that Altair will fail to appoint an audit committee member within the
cure period prescribed by Nasdaq, that whether or not Altair is able
to file the Annual Report within any required Nasdaq period, that
Altair will be delisted from Nasdaq due to the subjective concerns of
Nasdaq regarding its financial strength, ability to comply with the
Nasdaq rules on a prospective basis or other reasons. Other risks are
identified in Altair's most recent Annual Report on Form 10-K and
Quarterly Report on Form 10-Q filed with the SEC. Such
forward-looking statements speak only as of the date of this release.
Altair expressly disclaims any obligation to update or revise any
forward-looking statements found herein to reflect any changes in
Altair expectations or results or any change in events.
For Additional Information:
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