Current Report Filing (8-k)
December 04 2017 - 4:22PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): December 1, 2017
Future
FinTech Group Inc.
(Exact
name of registrant as specified in its charter)
Florida
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000-34502
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98-0222013
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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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23F,
China Development Bank Tower,
No.
2, Gaoxin 1st Road, Xi'an, China 710075
(Address
of principal executive offices, including zip code)
(86-29)
8187-8277
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report.)
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 (see General Instruction A.2. below):
☐
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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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☐
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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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☐
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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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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
December 1, 2017, Future FinTech Group Inc. (the “Company”) received written notice from the NASDAQ Stock Market (“NASDAQ”)
stating that the Company is not in compliance with the requirement of the minimum Market Value of Publicly Held Shares ("MVPHS")
of $5,000,000 for continued listing on The NASDAQ Global Market, as set forth in NASDAQ Listing Rule 5450(b)(1)(C). The notice
has no immediate effect on the listing of the Company's common stock, and its common stock will continue to trade on The NASDAQ
Global Market under the symbol “FTFT” at this time. In accordance with NASDAQ Listing Rule 5810(c)(3)(D), the Company
has a grace period of 180 calendar days, or until May 30, 2018, to regain compliance with the minimum MVPHS requirement. To regain
compliance, the minimum MVPHS of the Company's common stock must meet or exceed $5,000,000 for at least ten consecutive business
days during this 180-day grace period.
If
the Company does not regain compliance with the minimum MVPHS requirement by May 30, 2018, NASDAQ will provide written notification
to the Company that its securities will be subject to delisting. Alternatively, the Company may consider applying to transfer
the Company's securities to The NASDAQ Capital Market which has a minimum MVPHS requirement of $1,000,000.
The
Company intends to monitor the MVPHS for its common stock between now and May 30, 2018 and will consider the various available
options available to the Company if its common stock does not trade at a level that is likely to regain compliance.
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.
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Future FinTech Group Inc.
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Date: December 4, 2017
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By:
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/s/
Hongke Xue
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Name:
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Hongke Xue
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Title:
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Chief Executive Officer
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