BIQI International Holdings Corporation Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1)
May 09 2019 - 1:02PM
BIQI International Holdings Corporation (NASDAQ:BIQI) (“BIQI” or
the "Company") today announced that on May 6, 2019, the Company
received a notification letter from the Nasdaq Stock Market
(“Nasdaq”) stating that, because the Company has not yet filed its
Annual Report on Form 20-F for the year ended December 31,
2018 (the “Form 20-F”), the Company is no longer in compliance with
Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1)
requires listed companies to timely file all required periodic
financial reports with the Securities and Exchange Commission. The
Nasdaq letter has no immediate effect on the listing of the
Company’s shares.
Nasdaq’s notification letter states that the Company has until
May 20, 2019 to submit to Nasdaq a plan to regain compliance with
the Nasdaq Listing Rules (Nasdaq staff has determined to apply more
stringent criteria and shorten the normal time period for the
Company to submit its plan). If Nasdaq accepts the Company’s plan,
then Nasdaq may grant the Company up to 180 days from the
prescribed due date for filing the Form 20-F to regain compliance.
If Nasdaq does not accept the Company’s plan, then the Company will
have the opportunity to appeal that decision to a Nasdaq hearings
panel.
The Company intends to resolve the deficiency and regain
compliance with the Nasdaq Listing Rules.
Forward-Looking StatementsThis news release
contains forward-looking statements as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying
assumptions and other statements that are other than statements of
historical facts. These statements are subject to uncertainties and
risks including, but not limited to, product demand and acceptance,
changes in technology, economic conditions, the impact of
competition and pricing, government regulations, and other risks
contained in reports filed by the company with the Securities and
Exchange Commission. All such forward-looking statements, whether
written or oral, and whether made by or on behalf of the Company,
are expressly qualified by this cautionary statement and any other
cautionary statements which may accompany the forward-looking
statements. In addition, the Company disclaims any obligation to
update any forward-looking statements to reflect events or
circumstances after the date hereof.
BIQI International Holdings Corporation BIQI
International Holdings Corporation, NASDAQ:BIQI has recently
re-positioned itself as an investment holding company, focusing on
investment in and operation of chain stores and brands in
diversified industries.
For more information contact:Xiaodong
ZhangChief Executive Officer18804085858@139.com
BIQI (NASDAQ:BIQI)
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