HUDSON
TECHNOLOGIES MAINTAINS NASDAQ LISTING
Stock Symbol
Remains HDSNC
PEARL RIVER, N.Y. -- January 13, 2004
--
Hudson Technologies, Inc. (Nasdaq:
HDSNC), announced today that the Nasdaq Listing Qualification Panel
has determined to continue listing the Company's common stock on The
Nasdaq SmallCap Market pursuant to an amended exception granted to
the Company from the stockholders' equity/market value of listed
securities requirement as set forth in Nasdaq MarketPlace Rule
4310(c)(2)(B).
By decision, dated January 8, 2004, the Panel amended the exception
from this standard, which was first granted by the Panel s October
31, 2003 decision. Under the amended exception, on or before March
31 and May 15, 2004, the Company must file the Forms 10-KSB and
10-QSB for the fiscal year ended December 31, 2003 and the quarter
ending March 31, 2004, respectively, evidencing continued compliance
with the $2,500,000 stockholders' equity requirement.
On December 30, 2003, Hudson provided Nasdaq with information, on a
pro forma basis, evidencing compliance with Nasdaq's $2,500,000
stockholders' equity requirement as of November 30, 2003. This
information reflected the Company's issuance of 3,833,300 shares of
common stock as a result of the consummation of its public offering
of common stock on December 19, 2003 as well as the conversion of
certain outstanding debt to equity.
The Nasdaq Listing Qualification Panel reserved the right to amend
or otherwise terminate the exception subsequent to a review of the
Company's publicly filed financial statements. In order to satisfy
the terms of this exception, Hudson must be able to demonstrate
compliance with all requirements for continued listing on The Nasdaq
SmallCap Market. In the event it is unable to do so, the Company's
securities will be delisted from the Nasdaq Stock Market.
For the duration of the exception, the Company's Nasdaq symbol will
remain HDSNC.
About Hudson
Technologies
Hudson Technologies, Inc., is a
leading provider of innovative solutions to recurring problems
within the refrigeration industry. Hudson’s proprietary
RefrigerantSide® Services increase operating efficiency and energy
savings, and remove moisture, oils and other contaminants frequently
found in the refrigeration circuits of large comfort cooling and
process refrigeration systems. Performed at a customer’s site as an
integral part of an effective scheduled maintenance program or in
response to emergencies, RefrigerantSide® Services offer significant
savings to customers due to their ability to be completed rapidly
and at higher purity levels, and can be utilized while the
customer’s system continues to operate. In addition, the company
sells refrigerants and provides traditional reclamation services to
the commercial and industrial air conditioning and refrigeration
markets.
Safe Harbor
Statement under the Private Securities Litigation Act of 1995
Statements contained herein, which are not historical
facts constitute forward-looking statements involve a number of
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, but are not limited to, changes
in the markets for refrigerants (including unfavorable market
conditions adversely affecting the demand for, and the price of
refrigerants), regulatory and economic factors, seasonality,
competition, litigation, the nature of supplier or customer
arrangements which become available to the Company in the future,
adverse weather conditions, possible technological obsolescence of
existing products and services, possible reduction in the carrying
value of long-lived assets, estimates of the useful life of its
assets, potential environmental liability, customer concentration,
the ability to obtain financing and other risks detailed in the
Company’s periodic reports filed with the Securities and Exchange
Commission. The words “believe”, “expect”, “anticipate”, “may”,
“plan”, “should” and similar expressions identify forward-looking
statements. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
the statement was made.
Investor Relations Contacts:
Company Contact:
Harriet Fried/John Nesbett
Brian F. Coleman, President & COO
Lippert/Heilshorn & Associates
Hudson Technologies, Inc.
(212) 838-3777
(845) 735-6000
hfried@lhai.com
bcoleman@hudsontech.com
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