GLENDALE HEIGHTS, Ill., Nov. 30 /PRNewswire-FirstCall/ -- AHPC Holdings, Inc. , a distributor and supplier of disposable gloves and other products to the foodservice, healthcare, retail and industrial markets, today announced receipt of a Nasdaq Staff Deficiency letter from The Nasdaq Stock Market ("Nasdaq") indicating the Company is not in compliance with Nasdaq's requirements for continued listing because the Company's shareholders equity amount is below the minimum requirement of $2.5 million and, accordingly, does not comply with Marketplace Rule 4310(c)(2)(B) (the "Minimum Stockholders Equity Rule"). The Company is currently considering its options. In the event that the Company is unable to deliver a plan to achieve and sustain compliance with all Nasdaq listing requirements that is acceptable to Nasdaq, the Company expects to receive notification that its securities will be delisted. At that time, the Company may appeal the Staff's decision to a Nasdaq Listing Qualifications Panel.
There can be no assurance that the Nasdaq Listing Qualifications Panel will decide to allow the Company to remain listed or that any Company actions to attempt to comply with alternative listing criteria will prevent the delisting of its common stock from the Nasdaq SmallCap Market.
AHPC Holdings, Inc., headquartered in Glendale Heights, IL, is a marketer of disposable medical examination, foodservice and retail gloves. The Company's wholly owned subsidiary, American Health Products Corporation, is a leading supplier of branded and private label disposable gloves to the healthcare, foodservice, retail and industrial markets nationwide.
Certain statements contained in this press release contain "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward- looking words or phrases such as "anticipate," "believe," "could," "expect," "intend," "may," "planned," "potential," "should," "will," and "would." Such forward-looking statements in this release are inherently subject to many uncertainties in the Company's operations and business environment. These uncertainties include general economic conditions, in particular, relating to consumer demand for the Company's products and the Company's ability to maintain current sales levels at current margins, competitive and technological developments, customer purchasing actions, foreign currency fluctuations, and the Company's ability to maintain in place its current line of credit or to replace it with an acceptable substitute financing arrangement. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this release. In addition, such uncertainties and other operational matters are discussed further in the Company's quarterly and annual filings with the Securities and Exchange Commission.
