Current Report Filing (8-k)
October 19 2020 - 04:37PM
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 Exchange Act
of 1934
Date of Report (Date of earliest event reported): October 19, 2020
(October 15, 2020)
SINO-GLOBAL SHIPPING
AMERICA, LTD.
(Exact name of Registrant as specified in charter)
|
Virginia |
|
001-34024 |
|
11-3588546 |
(State
or other jurisdiction
of Incorporation) |
|
(Commission
File No.) |
|
(IRS
Employer
Identification No.) |
1044 Northern Boulevard, Suite 305
Roslyn, New York 11576-1514
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (718)
888-1814
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
| ☐ |
Written
communications pursuant to Rule 425 under the Securities Act
(17CFR230.425) |
| |
|
| ☐ |
Soliciting
material pursuant to Rule14a-12 under the Exchange Act
(17CFR240.14a-12) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17CFR240.14d-2(b)) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17CFR240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
|
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
| Common
Stock, no par value |
|
SINO |
|
NASDAQ
Capital Market |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. ☐
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.
On October 15, 2020, Sino-Global Shipping America, Ltd. (the
“Company”) received from the Nasdaq OMX Group (“Nasdaq”) a letter
(the “Nasdaq Letter”) indicating that it is not in compliance with
Nasdaq Marketplace Rule 5550(b)(1), which requires companies listed
on the Nasdaq Capital Market to maintain a minimum of $2,500,000 in
stockholders’ equity for continued listing. On its annual report
for the period ended June 30, 2020, the Company reported
stockholders’ equity of negative $357,900 and, as a result, does
not currently satisfy Nasdaq Marketplace Rule 5550(b)(1).
Nasdaq’s letter provides the Company 45 calendar days, or until
November 30, 2020, to submit a plan to regain compliance. If the
plan is accepted, the Company can be granted up to 180 calendar
days from October 15, 2020 to evidence compliance. There can be no
guarantee that the Company will be able to regain compliance with
the continued listing requirement of Nasdaq Marketplace Rule
5550(b)(1) or that its plan will be accepted by Nasdaq.
The Company is currently evaluating its available options to
resolve the deficiency and regain compliance with the Nasdaq
minimum stockholder equity requirement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
| |
SINO-GLOBAL SHIPPING AMERICA, LTD. |
| |
|
|
| Date:
October 19, 2020 |
By: |
/s/
Lei Cao |
| |
Name: |
Lei
Cao |
| |
Title: |
Chief
Executive Officer |
2
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