Appliance Recycling Centers of America Files Application for Listing on Nasdaq Capital Market
08 Dezember 2005 - 9:04PM
PR Newswire (US)
MINNEAPOLIS, Dec. 8 /PRNewswire-FirstCall/ -- Appliance Recycling
Centers of America, Inc. (OTC:ARCI) (BULLETIN BOARD: ARCI) today
announced that it has submitted an application to be listed on the
Nasdaq Capital Market. Nasdaq's review process typically takes 6 to
8 weeks, and while ARCA currently satisfies all of Nasdaq's listing
requirements, no assurance can be given that its application will
be approved. Pending Nasdaq's decision, ARCA will continue to trade
on the Over-the-Counter Bulletin Board. Edward R. (Jack) Cameron,
president and chief executive officer, commented: "We believe that
a Nasdaq Capital listing will enable us to raise ARCA's visibility
and credibility among investors. Since certain institutions and
brokers are restricted from investing in or trading Bulletin Board
stocks, a Nasdaq listing can help us enlarge our investor base. In
this way, we are seeking to generate additional value for ARCA's
shareholders." About ARCA Through its ApplianceSmart (
http://www.appliancesmart.com/ ) operation, ARCA is one of the
nation's leading retailers of special-buy household appliances,
primarily those manufactured by Maytag, GE, Frigidaire and
Whirlpool. These special-buy appliances, which include close-outs,
factory overruns and scratch-and-dent units, typically are not
integrated into the manufacturer's normal distribution channel.
ApplianceSmart sells these virtually new appliances at a discount
to full retail, offers a 100% money- back guarantee and provides
warranties on parts and labor. As of December 2005, ApplianceSmart
was operating 13 factory outlets: five in the Minneapolis/St. Paul
market; three in the Columbus, Ohio, market; two in the Atlanta
market; two in San Antonio, Texas and one in Los Angeles. ARCA is
also the nation's largest recycler of major household appliances
for the energy conservation programs of electric utilities.
Statements about ARCA's outlook are forward-looking and involve
risks and uncertainties, including but not limited to: the speed at
which individual ApplianceSmart outlets reach profitability, the
growth of appliance retail sales, the strength of energy
conservation recycling programs, and other factors discussed in the
Company's filings with the Securities and Exchange Commission.
Visit our web sites at http://www.arcainc.com/ and
http://www.appliancesmart.com/ . DATASOURCE: Appliance Recycling
Centers of America, Inc. CONTACT: Edward R. (Jack) Cameron, CEO of
Appliance Recycling Centers of America, Inc., +1-952-930-9000, or
Richard G. Cinquina of Equity Market Partners, +1-904-415-1415 Web
site: http://www.appliancesmart.com/ http://www.arcainc.com/
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