XI'AN, China, October 16, 2019 /PRNewswire/ -- Future FinTech
Group Inc. (FTFT) ("Future FinTech", "FTFT" or "the Company"), a
company engages in blockchain based e-commerce and fruit juice
business, today announced that it has received a letter from the
NASDAQ Listing Qualifications Staff notifying the Company that it
has regained compliance with NASDAQ's periodic filing requirements
for continued listing on the Nasdaq Capital Market. The letter
noted that as a result of the September 3,
2019 filing of the Form 10-K and the September 30, 2019 filing of the Forms 10-Q for
the periods ended March 31, and
June 30, 2019 with the Securities and
Exchange Commission, the Company has regained compliance with
Listing Rule 5250(c)(1) and the matter is now closed.
As previously disclosed, on September 18,
2019, the Company submitted its plan of compliance in
connection with its failure to meet the requirement of maintaining
a minimum of $2,500,000 in
shareholders' equity for continued listing on the NASDAQ Capital
Market, as set forth in NASDAQ Listing Rule 5550(b)(1). If the plan
is accepted, NASDAQ can grant the Company an extension up to 180
calendar days from the date of NASDAQ letter dated September 4, 2019 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 is still waiting
for the Nasdaq's determination whether the plan is accepted.
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the
"Company") is incorporated in Florida and engages in fruit juice and
blockchain based e-commerce businesses. The Company engages in the
operation of a blockchain based online shared shopping mall
platform and also operates an incubator for application projects
using blockchain technology. FTFT and its subsidiaries are
developing blockchain technology for a variety of B2B and B2C
real-life applications including the distribution, marketing and
sale of consumer products. The Company is also developing financial
technology business to stay ahead of the changing industry. For
more information, please visit http://www.ftft.top/.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended, or the
Exchange Act. Forward-looking statements include statements with
respect to our beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the actual results, performance, capital, ownership or achievements
of the Company to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements other than statements of
historical fact are statements that could be forward-looking
statements. You can identify these forward-looking statements
through our use of words such as "may," "will," "anticipate,"
"assume," "should," "indicate," "would," "believe," "contemplate,"
"expect," "estimate," "continue," "plan," "point to," "project,"
"could," "intend," "target" and other similar words and expressions
of the future.
All written or oral forward-looking statements attributable to
us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 10-K for the
year ended December 31, 2017 and our
other reports and filings with SEC. Such reports are available upon
request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to
update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
IR Contact:
Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: ftft@dgipl.com
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SOURCE Future FinTech Group Inc.