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8-K - FORM 8-K - SYNTHESIS ENERGY SYSTEMS INC | c10624e8vk.htm |
Exhibit 99.1
P R E S S R E L E A S E
Synthesis Energy Systems Regains NASDAQ Compliance
Houston, January 5, 2011 – Synthesis Energy Systems (NASDAQ: SYMX) a global energy and gasification technology company, announced today that it has received notification from The NASDAQ Stock Market that it has regained compliance with the minimum $1.00 per share bid price requirement. As required under NASDAQ’s Listing Rules, in order to regain compliance the Company was required to evidence a closing bid price of $1.00 per share or more for at least ten consecutive days.
About Synthesis Energy Systems, Inc.
SES provides technology, equipment
and engineering services for the conversion of low rank, low cost coal and
biomass feedstocks into energy and chemical products. Its strategy is to create
value through providing technology and equipment in regions where low rank
coals and biomass feedstocks can be profitably converted into high value
products through its proprietary U-GAS® fluidized bed
gasification technology, which
SES licenses from the Gas Technology
Institute. U-GAS® gasifies coal
cost effectively, without many of the harmful emissions normally associated
with coal combustion plants. The primary advantages of U-GAS® relative to other
gasification technologies are (a) greater fuel flexibility provided by the
ability of SES to use all ranks of coal (including low rank, high ash and high
moisture coals, which are significantly cheaper than higher grade coals), many
coal waste products and biomass feed stocks; and (b) the ability of SES to
operate efficiently on a smaller scale, which enables the construction of
plants more quickly, at a lower capital cost, and, in many cases, in closer
proximity to coal sources. SES currently has offices in Houston, Texas, and
Shanghai, China. For more information on SES, visit www.synthesisenergy.com or
call (713) 579-0600.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those risks, trends and uncertainties are the early stage of development of SES, its estimate of the sufficiency of existing capital sources, its ability to successfully develop its licensing business, its ability to raise additional capital to fund cash requirements for future investments and operations, its ability to reduce operating costs, the limited history and viability of its technology, the effect of the current international financial crisis on its business, commodity prices and the availability and terms of financing opportunities, its results of operations in foreign countries and its ability to diversify, its ability to maintain production from its first plant in the Zao Zhuang joint venture, its ability to complete the expansion of the Zao Zhuang project, its ability to obtain the necessary approvals and permits for its Yima project and other future projects, the estimated timetables for achieving mechanical completion and commencing commercial operations for the Yima project, its ability to negotiate the terms of the conversion of the Yima project from methanol to glycol and the sufficiency of internal controls and procedures. Although SES believes that in making such forward-looking statements its expectations are based upon reasonable assumptions, such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. SES cannot assure you that the assumptions upon which these statements are based will prove to have been correct.
P R E S S R E L E A S E
# # #
Contact:
Synthesis
Energy Systems, Inc.
Kevin Kelly
Chief Accounting Officer
(713) 579-0600
Kevin.Kelly@synthesisenergy.com
MBS Value Partners, LLC
Matthew
D. Haines
Managing Director
(212) 710-9686
Matt.Haines@mbsvalue.com