iFresh Granted Extension by NASDAQ to Regain Compliance with NASDAQ Listing Rule
June 13 2019 - 3:08PM
iFresh Inc. (Nasdaq:IFMK), a leading Asian/Chinese grocery
supermarket chain on the east coast of U.S., announced today that
it received notification from the Listing Qualifications department
of The NASDAQ Stock Market, that the staff has determined to grant
the Company an extension until July 30, 2019 to regain compliance
with Listing Rule 5620(a) by holding an annual meeting of
shareholders on or before that date. If the company does not
satisfy these terms, NASDAQ will provide written notification to
the Company that its securities will be delisted. At that time, the
Company may appeal the determination to a NASDAQ Hearings Panel.
The company has previously filed a definitive proxy statement to
hold an annual meeting of the shareholders on July 30, 2019 and
fully intends to hold the meeting by the due date, and otherwise
remain in compliance with NASDAQ rules and regulations.
About iFresh Inc.
iFresh Inc. (NASDAQ:IFMK), headquartered in Long
Island City, New York, is a leading Asian American grocery
supermarket chain and online grocer on the east coast of U.S. With
ten retail supermarkets along the US eastern seaboard (with
additional stores in Miami and Connecticut opening soon), and two
in-house wholesale businesses strategically located in cities with
a highly concentrated Asian population, iFresh aims to satisfy the
increasing demands of Asian Americans (whose purchasing power has
been growing rapidly) for fresh and culturally unique produce,
seafood and other groceries that are not found in mainstream
supermarkets. With an in-house proprietary delivery network, online
sales channel and strong relations with farms that produce Chinese
specialty vegetables and fruits, iFresh is able to offer fresh,
high-quality specialty produce at competitive prices to a growing
base of customers. For more information, please visit:
http://www.ifreshmarket.com/.
For more information on iFresh
or its supermarkets, please visit
www.ifreshmarket.com.
Forward-Looking Statements
This press release contains statements that
constitute forward-looking statements within the meaning of the
Securities Act of 1933 and the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995.
These statements are based upon our current expectations and speak
only as of the date hereof. Our actual results may differ
materially and adversely from those expressed in any
forward-looking statements as a result of various factors and
uncertainties. For example, there can be no assurance that we will
be able to maintain our listing on any NASDAQ market. Other factors
that could cause actual results to differ materially from those
contemplated within this press release can also be found in
iFresh's Risk Factors disclosure in its Annual Report on Form 10-K,
filed with the Securities and Exchange Commission (SEC) on June 29,
2018, and in iFresh's other filings with the SEC. Forward-looking
statements contained in this press release speak only as of the
date of this press release. We undertake no obligation to update
any forward-looking statements as a result of new information,
events or circumstances or other factors arising or coming to our
attention after the date hereof.
For more information, please contact:
iFresh, Inc.
Email: herinyin@newyorkmart.com
iFresh (NASDAQ:IFMK)
Historical Stock Chart
From Aug 2024 to Sep 2024
iFresh (NASDAQ:IFMK)
Historical Stock Chart
From Sep 2023 to Sep 2024