Current Report Filing (8-k)
March 04 2022 - 4:31PM
Edgar (US Regulatory)
0001066923
false
0001066923
2022-03-01
2022-03-01
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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):
March 1, 2022
Future FinTech Group Inc.
(Exact name of registrant as specified in its charter)
Florida |
|
001-34502 |
|
98-0222013 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
Americas Tower, 1177 Avenue of The Americas,
Suite 5100, New York, NY 10036
(Address of principal executive offices, including
zip code)
888-622-1218
(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):
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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 |
|
Trading Symbol(s) |
|
Name of each exchange on which
registered |
Common Stock, par value $0.001 per share |
|
FTFT |
|
Nasdaq Stock Market |
Item 3.01. Notice of Delisting
or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On March 1, 2022, Future FinTech Group Inc. (the “Company”)
received a letter from the Nasdaq Stock Market (“Nasdaq”) notifying the Company that, because the closing bid price for
the Company’s common stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company no longer meets the minimum
bid price requirement for continued listing on Nasdaq under Nasdaq Marketplace Rule 5550(a)(2), which requires a minimum bid
price of $1.00 per share (the “Minimum Bid Price Requirement”).
The notification has no immediate effect on the listing
of the Company’s common stock. In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has a period of 180 calendar
days from the date of notification, until August 29, 2022 (the “Compliance Period”), to regain compliance with the Minimum Bid
Price Requirement. If at any time before the expiration of the Compliance Period the bid price of the Company’s common
stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that
the Company has achieved compliance with the Minimum Bid Price Requirement. If the Company does not regain compliance by the
end of the Compliance Period, the Company may be eligible for an additional 180 calendar day period to regain compliance. 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. However,
if it appears to Nasdaq that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq
will provide notice that the Company’s securities will be subject to delisting.
The Company intends to continue actively monitoring
the bid price for its common stock between now and the expiration of the Compliance Period and will consider all available options to
resolve the deficiency and regain compliance with the Minimum Bid Price Requirement.
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.
|
Future FinTech Group Inc. |
|
|
Date: March 4, 2022 |
By: |
/s/ Shanchun Huang |
|
Name: |
Shanchun Huang |
|
Title: |
Chief Executive Officer |
Future FinTech (NASDAQ:FTFT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Future FinTech (NASDAQ:FTFT)
Historical Stock Chart
From Jul 2023 to Jul 2024