SSLJ plans to take appropriate measures after receiving the 180-day Nasdaq deficiency notice
October 23 2018 - 5:15PM
SSLJ.com Limited (the “Company” or “SSLJ”) (NASDAQ: SSLJ) On
October 17, 2018, SSLJ.com Limited received a deficiency notice
from The NASDAQ Stock Market, Inc. (“NASDAQ”) stating that for the
last 30 consecutive business days, the Company’s shares closed
below the minimum bid price of $1.00 per share as required for
continued listing on the NASDAQ Capital Market and as a result the
Company is not in compliance with the minimum bid price requirement
for continued listing set forth in Listing Rule 5450(a)(1). The
Company has until April 15, 2019 to regain compliance with the
NASDAQ’s continued listing requirements.
If the Company is unable to demonstrate
compliance with these continued listing requirements on or before
April 15, 2019, it may be eligible for additional time to regain
compliance with NASDAQ’s continued listing requirements. To
qualify, the Company will be required to meet the continued listing
requirement for market value of publicly held shares and all other
initial listing standards for The Nasdaq Capital Market, with the
exception of the bid price requirement, and will need to provide
written notice of its intention to cure the deficiency during the
second compliance period, by effecting a reverse stock split, if
necessary. If the Company meets these requirements, the NASDAQ
staff will inform the Company that it has been granted an
additional 180 calendar days. However, if it appears to the NASDAQ
Staff that the Company will not be able to cure the deficiency, or
if the Company otherwise is not eligible, the NASDAQ Staff will
provide notice that the Company’s ordinary shares will be subject
to delisting. At that time, the Company would also be permitted to
appeal the delisting determination to a hearing panel. If at any
time before April 15, 2019, the closing bid price of the Company’s
ordinary shares is at least $1.00 per share for a minimum of 10
consecutive business days, the NASDAQ staff will provide written
confirmation that the Company is in compliance with the minimum
closing bid price requirements and the matter will be closed.
The Company is currently reviewing the options
to meet the requirements for continued listing on the NASDAQ
Capital Market and plans to take appropriate measures to regain
compliance therewith.
About SSLJ.com Limited
SSLJ.com Limited is a pioneer in the vertically
integrated O2O home decoration service and product market with one
of the largest market shares in China. The Company provides clients
with a convenient, full-service, one-stop solution for its homes’
interior decoration and improvement needs by offering consulting,
design, construction, and furnishing services as well as modern,
high-quality and high-tech products. The Company has 9 branch
companies and 12 sales offices in 10 cities, which are Beijing,
Shanghai, Shenzhen, Wuhan, Suzhou, Hefei, Zhengzhou, Tianjin,
Chengdu, Xi’an. For more information, please
visit www.sslj.com.
Forward-Looking Statements
This announcement contains forward-looking
statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact in this announcement are
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as “may,” “will,” “expect,” “anticipate,”
“aim,” “estimate,” “intend,” “plan,” “believe,” “potential,”
“continue,” “is/are likely to” or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results.
For more information, please contact:
SSLJ.com Limited
Email: ir@sslj.com
Sslj.Com Limited (MM) (NASDAQ:SSLJ)
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