Current Report Filing (8-k)
December 20 2018 - 4:18PM
Edgar (US Regulatory)
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): December 20, 2018 (December 19, 2018)
SHINECO,
INC.
(Exact
name of registrant as specified in its charter)
Delaware
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001-37776
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52-2175898
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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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Room
1001, Building T5,
DaZu Square, Daxing District,
Beijing, People’s Republic of China
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: (+86) 10-87227366
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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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 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. ☐
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Item 3.01
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Notice of Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
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On December 19, 2018, Shineco Inc. (the “Company”) received
a letter from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”)
notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s common stock
was below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market as set forth in Nasdaq Listing
Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). The Nasdaq letter has no immediate effect on the listing of
the Company’s common stock on the Nasdaq Capital Market.
In accordance with Nasdaq listing rules, the Company has been provided
an initial period of 180 calendar days, or until June 17, 2019 (the “Compliance Date”), to regain compliance with the
Minimum Bid Price Requirement. If, at any time during this 180-day period, the closing bid price of the Company’s common
stock is at least $1.00 for a minimum of 10 consecutive business days, unless the Staff exercises its discretion to extend such
10-day period, the Staff will provide the Company written confirmation of compliance with the Minimum Bid Price Requirement and
the matter will be closed. If the Company does not regain compliance by the Compliance Date, the Company may be eligible for an
additional 180 calendar day compliance period. To qualify for such additional compliance period, the Company would have to meet
the continued listing requirements of the NASDAQ Capital Market, except for the Minimum Bid Price Requirement, and the Company
would need to provide written notice of its intention to cure the deficiency during the additional compliance period. If the Company
is not eligible for the additional compliance period or it appears to the Staff that the Company will not be able to cure the deficiency
or if the Staff exercises its discretion to not provide such additional compliance period, the Staff will provide written notice
to the Company that its common stock will be subject to delisting. At that time, the Company may appeal the Staff’s delisting
determination to a Nasdaq Hearing Panel.
The Company will monitor the closing bid price of its common stock and
will consider options to regain compliance with the Minimum Bid Price Requirement. There can be no assurance that the Company will
regain compliance with the Minimum Bid Price Requirement or maintain compliance with any of the other Nasdaq continued listing
requirements.
SIGNATURE
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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Shineco Inc.
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Date: December 20, 2018
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By:
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/s/ Yuying Zhang
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Yuying Zhang, Chief Executive Officer
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