ARCA receives notification of deficiency from Nasdaq

Appliance Recycling Centers of America Inc.(ARCA), Hopkins, Minnesota, has previously announced that it is delaying its quarterly report on Form 10-Q for the period that ended March 31, 2018, to allow the its independent registered public accounting firm sufficient time to complete its work on the review of the company's financial statements.

In connection with the delayed Form 10-Q, on May 22, 2018, ARCA received a standard notice from Nasdaq stating the company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission.

The Nasdaq notice has no immediate effect on the listing or trading of ARCA's common stock on the Nasdaq Capital Market. Under Nasdaq's listing rules, ARCA has until June 18, 2018, to submit a plan to regain compliance. If the plan is accepted, ARCA can be granted an exception until Sept. 26, 2018, to regain compliance. ARCA says it expects to submit a plan to regain compliance or file its Form 10-Q within the timeline prescribed by Nasdaq.