NEW
YORK, April 19, 2023 /PRNewswire/ -- Future
FinTech Group Inc. (NASDAQ: FTFT) ("hereinafter referred to as
"Future FinTech", "FTFT" or the "Company"), a blockchain
application technology developer and a fintech service provider,
announced today that on
April 18, 2023, it received a letter
from the Listing Qualifications Department of the Nasdaq Stock
Market ("Nasdaq") stating that it was not in compliance with Nasdaq
Listing Rule 5250(c)(1) as a result of it not having timely filed
its Annual Report on Form 10-K for the fiscal year ended December
31, 2022 (the "2022 10-K") with the Securities and Exchange
Commission ("SEC").
The Nasdaq notification letter provides the Company with 60
calendar days, or until June 20,
2023, to submit to Nasdaq a plan to regain compliance in
accordance with Nasdaq's listing requirements. If the Company's
plan is accepted, Nasdaq may grant the Company up to 180 days, or
until October 16, 2023, for the
Company to regain compliance. If Nasdaq does not accept the
Company's plan, the Company will have the opportunity to appeal
that decision to a Nasdaq Hearings Pane under Nasdaq Listing Rule
5815(a). The Nasdaq notification letter has no immediate effect on
the listing of the Company's common stock on the NASDAQ Capital
Market.
The Company has been working diligently and expects to file its
2022 10-K with the SEC today to
regain compliance with the Nasdaq Listing Rule.
About Future FinTech Group Inc.
Future FinTech Group Inc. is a blockchain application technology
developer and fintech service provider incorporated
in Florida. The Company's operations include a
blockchain-based online shopping mall platform, Chain Cloud
Mall ("CCM"), supply chain financing services,
asset management and a money transfer service.
The Company is also developing cryptocurrency
mining, cryptocurrency market data
services, blockchain-based e-Commerce technology, cryptocurrency
investment
management and financial service technology businesses. For
more information,
please visit http://www.ftft.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, 2021 and our other reports and
filings with SEC. 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.
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SOURCE Future FinTech Group Inc.