Current Report Filing (8-k)
September 06 2019 - 4:35PM
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):
September 4, 2019
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. ☐
Securities registered pursuant to Section 12(b) of the
Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange
on which registered
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Common Stock, par value $0.001 per share
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FTFT
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Nasdaq Stock Market
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Item 3.01. Notice of Delisting
or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On September 4, 2019, Future
FinTech Group Inc. (the “Company”) received written notice from the NASDAQ Stock Market (“NASDAQ”) stating
that the Company does not meet the requirement of maintaining a minimum of $2,500,000 in stockholders’ equity for continued
listing on the NASDAQ Capital Market, as set forth in NASDAQ Listing Rule 5550(b)(1), the Company also does not meet the alternative
of market value of listed securities of $35 million under NASDAQ Listing Rule 5550(b)(2) or net income from continuing operations
of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years under NASDAQ
Listing Rule 5550(b)(3), and the Company is no longer in compliance with the NASDAQ Listing Rules.
The NASDAQ notification
letter provides the Company until September 18, 2019 to submit a plan to regain compliance. If the plan is accepted, NASDAQ can
grant the Company an extension up to 180 calendar days from the date of NASDAQ letter to demonstrate compliance. If NASDAQ does
not accept the Company’s compliance plan, the Company will have the opportunity to appeal that decision to a Hearing Panel
per NASDAQ Listing Rule 5815(a).
The Company will consider
the various options available to it to regain compliance with the NASDAQ Listing Rules.
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: September 6, 2019
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By:
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/s/ Yongke Xue
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Name:
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Yongke Xue
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Title:
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Chief Executive Officer
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