SSLJ.com Limited plans to take appropriate measures after receiving the Nasdaq deficiency notice
June 10 2019 - 5:00PM
SSLJ.com Limited (the “Company”) (NASDAQ: YGTY) On June 4, 2019,
SSLJ.com Limited received a compliance notice from The NASDAQ Stock
Market, Inc. (“NASDAQ”) stating that the Company has met the
periodic filing requirement for the Nasdaq Stock Market under
Listing Rule 5250(c)(2) based on the filing of the Company’s
interim financials on Form 6-K for the six months period ended June
30, 2018.
On June 5, 2019, the Company received another
deficiency notice from NASDAQ stating that the Company has not
maintained a minimum of $2,500,000 in stockholders’ equity for
continued listing under Listing Rule 5550(b)(1) based on the Form
6-K of the Company’s interim financial information for the six
months period ended June 30, 2018. NASDAQ has informed the Company
that it must submit a plan (the “Plan”) to regain compliance with
the NASDAQ’s continued listing requirements no later than June 18,
2019. In addition, NASDAQ has determined to require the Company to
submit a plan no later than June 18, 2019 to regain compliance with
Listing Rule 5250(c)(1) due to the Company’s failure to file its
Form 20-F timely for the fiscal year ended December 31, 2018.
If NASDAQ accepts the Company’s Plan to regain
compliance in those respects, NASDAQ can grant an exception of up
to 180 calendar days from June 5, 2019 to evidence compliance. In
determining whether to accept the Company’s Plan, NASDAQ will
consider factors as the likelihood that the Plan will result in
compliance with NASDAQ’s continued listing criteria, the Company’s
past compliance history, the reasons for the Company’s current
non-compliance, other corporate events that may occur within the
NASDAQ review period, the Company’s overall financial condition and
its public disclosures.
The Company is currently working on the Plan to
regain compliance with respect to the Listing Rules 5550(b)(1) and
5250(c)(1) to meet the requirements for continued listing on the
NASDAQ Capital Market. It intends to submit such Plan to NASDAQ as
soon as practicable prior to June 18, 2019.
About SSLJ.com Limited
SSLJ.com Limited is in the business of the
vertically integrated O2O home decoration services and products in
China. The Company provides clients with a convenient,
full-service, one-stop solution for its homes’ interior decoration
and improvement needs by offering consulting, design, construction,
and furnishing services as well as modern, high-quality and
high-tech products. For more information, please visit
www.sslj.com.
Forward-Looking Statements
This announcement contains forward-looking
statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact in this announcement are
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as “may,” “will,” “expect,” “anticipate,”
“aim,” “estimate,” “intend,” “plan,” “believe,” “potential,”
“continue,” “is/are likely to” or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results.
For more information, please
contact:
SSLJ.com LimitedEmail: ir@sslj.com
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