Current Report Filing (8-k)
November 23 2016 - 4:42PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
reported): November 23, 2016 (November 16, 2016)
HONGLI CLEAN ENERGY TECHNOLOGIES CORP.
(Exact name of registrant as specified
in its charter)
Florida
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001-15931
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98-0695811
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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Kuanggong Road and Tiyu Road, 10th Floor,
Chengshi Xin Yong She, Tiyu Road,
Xinhua District, Pingdingshan, Henan
Province
People’s Republic of China
467000
(Address of principal executive offices
and zip code)
+86-3752882999
(Registrant’s telephone number, including
area code)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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As previously reported, on October 12,
2016, the Company received a Determination letter from The NASDAQ Stock Market LLC (the “Nasdaq”) notifying the Company
of the Nasdaq Staff’s determination that the Company’s failure to timely file its annual report on Form 10-K
for the fiscal year ended June 30, 2016 could serve as an additional basis for delisting from The Nasdaq Stock Market pursuant
to Listing Rule 5250(c)(1). In addition, on November 16, 2016, the Company received an additional deficiency notice for the late
filing of its periodic report on Form 10-Q for the quarter ended September 30, 2016, which could also serve as an additional basis
for delisting pursuant to Listing Rule 5250(c)(1). The Company had previously been notified that it did not comply with the
$1.00 bid price requirement for continued listing, as set forth in Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”).
In response, on October 27, 2016, the Company effected a 1-for-10 reverse stock split. As of the date of this current report, the
Company’s bid price has remained above $1.00 per share for 19 consecutive trading days.
Based on the foregoing, the Company requested
a hearing before a Nasdaq Listing Qualifications Panel (the “Panel”). Following the oral hearing before the Panel on
November 17, 2016, on November 21, 2016, the Company received written notification that the Panel had determined that the Company
has regained compliance with the Minimum Bid Price Rule and has granted the Company’s request for continued listing pending
the filing of its delinquent reports and any necessary restatements with the Securities and Exchange Commission through January
31, 2017.
Notwithstanding the foregoing, there can
be no assurance that the Company will regain compliance by January 31, 2017, or that the Panel will grant a further extension in
the event the Company does not timely regain compliance.
On November 22, 2016, the Company issued
a press release relating to the matters described above.
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Item 9.01
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Financial Statements and Exhibits.
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The following exhibits are furnished as
part of this Current Report on Form 8-K:
Exhibit
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Description
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99.1
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Press Release.
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: November 23, 2016
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HONGLI CLEAN ENERGY TECHNOLOGIES CORP.
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By:
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/s/ Jianhua Lv
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Name:
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Jianhua Lv
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Its:
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Chief Executive Officer
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