Home Solutions Receives Notification Letter From American Stock Exchange
04 Gennaio 2006 - 10:30PM
PR Newswire (US)
DALLAS, Jan. 4 /PRNewswire-FirstCall/ -- Home Solutions of America,
Inc. (AMEX:HOM) ("the Company"), a provider of recovery,
restoration and rebuilding/remodeling services, announced today
that it has received a letter from the American Stock Exchange
("AMEX") indicating that it is currently not in compliance with
Section 301 of the AMEX Company Guide, which provides that a listed
company is not permitted to issue, or authorize its transfer agent
or registrar to issue or register, additional securities of a
listed class until it has filed an application for the listing of
such additional securities and received notification from the AMEX
that the securities have been approved for listing. Home Solutions
discovered its noncompliance in December 2005 and promptly filed
the required listing applications with AMEX, which resulted in the
receipt of the noncompliance letter from AMEX. After AMEX approves
the listing applications, Home Solutions expects that it will again
be in compliance with Section 301 of the AMEX Company Guide.
Furthermore, the Company has revised its standard operating
procedures in order to ensure that future issuances of common stock
are in compliance with AMEX Company Guide Section 301. The AMEX
Staff has determined not to apply at this time the continued
listing evaluations and follow-up procedures specified in Section
1009 of the Company Guide. Home Solutions believes that the listing
of the shares in question with AMEX will have no material impact on
the Company's financial performance or results. Home Solutions is a
provider of recovery, restoration and rebuilding/remodeling
services to commercial and residential areas that are (i) prone to
flooding, hurricanes, tornados, fires or other naturally occurring
and repetitive weather related emergencies; and/or (ii)
experiencing robust housing development. The Company has operations
in California, Texas, Florida, Alabama, Georgia, Louisiana,
Mississippi and South Carolina through its five subsidiaries,
Cornerstone Building and Remodeling, Southern Exposure, P.W.
Stephens, Home Solutions Restoration of Louisiana and Fiber Seal
Systems. Cornerstone is a leading supplier and installer of granite
materials for kitchens and baths to national home centers, as well
as national builders and remodeling companies, in the southeastern
United States. Southern Exposure and related companies is a
provider of cabinet and countertop installation services in the
Florida marketplace. P.W. Stephens provides mold and asbestos
remediation services, and fire and water restoration services in
California, Florida and Louisiana. Home Solutions Restoration of
Louisiana provides Recovery Restoration Services in Florida,
Louisiana, Mississippi and Texas and Fiber Seal Systems is a
national licensor of cleaning and fabric protection businesses. For
more information on Home Solutions, please see the Company's
website at http://www.homcorp.com/ . Statements included in this
update that are not historical in nature are intended to be, and
are hereby identified as, "forward-looking statements" for purposes
of the safe harbor provided by Section 21E of the Securities
Exchange Act of 1934, as amended by Public Law 104-67.
Forward-looking statements may be identified by words including
"anticipate," "believe," "intends," "estimates," "expect," and
similar expressions. The Company cautions readers that
forward-looking statements including, without limitation, those
relating to the Company's future business prospects are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those indicated in the forward-looking
statements, due to factors such as those relating to economic,
governmental, technological, and other risks and factors identified
from time to time in the Company's reports filed with the SEC.
CONTACT: Michael Wachs, CEOcast, Inc. PHONE: 212-732-4300
DATASOURCE: Home Solutions of America, Inc. CONTACT: Michael Wachs
of CEOcast, Inc., +1-212-732-4300, for Home Solutions of America,
Inc. Web site: http://www.homcorp.com/
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