XI'AN, China, Sept. 6, 2016 /PRNewswire/ -- SkyPeople Fruit
Juice, Inc. (NASDAQ: SPU) ("SkyPeople" or "the Company"), a
producer of fruit juice concentrates, fruit juice beverages and
other fruit-related products, today announced that on September 2, 2016, the Company received a letter
from the Nasdaq Listing Qualifications Staff (the "Nasdaq
Staff").
The letter states that Nasdaq Staff has determined to continue
the exception that the Company has been granted to file its annual
report on Form 10-K for the period ended December, 31, 2015 (the
"Form 10-K") and its quarterly report on Form 10-Q for the period
ending March 31, 2016, to also
include its quarterly report on Form 10-Q for the period ending
June 30, 2016 (the "Forms 10-Q"). The
terms of the exception are that on or before October 11, 2016, the Company must file the Form
10-K and Forms 10-Q so as to regain compliance with Nasdaq Rule
5250(c)(1). The letter was sent in response to the updated plan of
compliance that the Company submitted to Nasdaq Staff.
In the event that the Company does not file its Form 10-K and
Forms 10-Q on October 11, 2016,
Nasdaq Staff has stated that it will provide written notification
that the Company's securities will be delisted. At that time, the
Company may appeal the Nasdaq Staff's determination to a Hearing
Panel under Listing Rule 5815(a).
The Company expects to file its Form 10-K and Forms 10-Q on or
before October 11, 2016.
About SkyPeople Fruit Juice, Inc.
SkyPeople Fruit Juice, Inc., a Florida company, through its wholly-owned
subsidiary Pacific Industry Holding Group Co., Ltd. ("Pacific"), a
Vanuatu company, and SkyPeople
Juice International Holding (HK) Ltd., a company organized under
the laws of Hong Kong Special Administrative Region of the People's Republic of China and a wholly
owned subsidiary of Pacific, holds 73.42% ownership interest in
SkyPeople Juice Group Co., Ltd. ("SkyPeople (China)") and 100% ownership interest in
SkyPeople Foods (China) Co., Ltd.
("SkyPeople Foods China"). SkyPeople (China) and ("SkyPeople Foods China"), together
with their operating subsidiaries in China, are engaged in the production and sales
of fruit juice concentrates, fruit beverages, and other fruit
related products in the PRC and overseas markets. The Company's
fruit juice concentrates are sold to domestic customers and
exported directly or via distributors. Fruit juice concentrates are
used as a basic ingredient component in the food industry. Its
brands, "Hedetang" and "SkyPeople," which are registered trademarks
in the PRC, are positioned as high quality, healthy and nutritious
end-use juice beverages. For more information, please visit
http://www.skypeoplefruitjuice.com.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended, or the
Exchange Act. Forward-looking statements include statements with
respect to our beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the actual results, performance, capital, ownership or achievements
of the Company to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements other than statements of
historical fact are statements that could be forward-looking
statements. You can identify these forward-looking statements
through our use of words such as "may," "will," "anticipate,"
"assume," "should," "indicate," "would," "believe," "contemplate,"
"expect," "estimate," "continue," "plan," "point to," "project,"
"could," "intend," "target" and other similar words and expressions
of the future.
All written or oral forward-looking statements attributable to
us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 10-K for the
year ended December 31, 2014 and
otherwise in our SEC reports and filings, including the final
prospectus for our offering. Such reports are available upon
request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to
update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
For more information, please contact:
COMPANY
Cindy Liu, Investor Relations
Manager
SkyPeople Fruit Juice, Inc.
Tel: China
+86-29-8837-7161
Email: skypeople_annie@163.com
Web: http://www.skypeoplefruitjuice.com
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SOURCE SkyPeople Fruit Juice, Inc.