CHINA GREEN AGRICULTURE, INC. (NYSE:CGA) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On October 16, 2017, China Green Agriculture, Inc. (the “Company”) received a notice from the New York Stock Exchange (the “NYSE”) indicating that the Company is not in compliance with the NYSE’s continued listing requirements under the timely filing criteria established in Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Annual Report on Form 10-K for the fiscal year ended June 30, 2017 (the “2017 Form 10-K”).
As reported by the Company in its Form 12b-25 filed with the Securities and Exchange Commission (the “SEC”) on September 28, 2017, the Company was unable to file the 2017 Form 10-K within the prescribed time period without unreasonable effort or expense. The extension period provided under Rule 12b-25 expired on October 13, 2017. The Company was unable to file the 2017 Form 10-K within the extension period because, during the period covered by the 2017 Form 10-K, the Company completed eight acquisitions, tripling the number of subsidiaries. Also, the 2017 fiscal year constituted the first full year operations of a new wholesale segment of the Company. Because of the complexity introduced by these factors, the Company’s internal accounting staff was unable to complete the statements in time for delivery to the Company’s independent registered public accounting firm .The Company filed the 2017 Form 10-K on October 19, 2017.
The NYSE informed the Company that, under the NYSE’s rules, the Company will have six months from the filing due date to file the 2017 Form 10-K with the SEC. As noted above, the Company filed the 2017 Form 10-K on October 19, 2017, and thus regained compliance with the NYSE continued listing requirements.
Attached as Exhibit 99.1 hereto, and incorporated herein by reference, is a copy of the Company’s press release dated October 20, 2017, announcing the receipt of the NYSE notice.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| EXHIBIT NO. | DESCRIPTION |
| 99.1 | Press Release dated October 20, 2017. |
China Green Agriculture, Inc. ExhibitEX-99.1 2 f8k101617ex99-1_china.htm PRESS RELEASE DATED OCTOBER 20,…To view the full exhibit click here
About CHINA GREEN AGRICULTURE, INC. (NYSE:CGA)
China Green Agriculture, Inc. is engaged in the research, development, production and sale of various types of fertilizers and agricultural products in the People’s Republic of China (PRC) through its Chinese subsidiaries, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. (Jinong) and Beijing Gufeng Chemical Products Co., Ltd. (Gufeng), and its variable interest entity (VIE), Xi’an Hu County Yuxing Agriculture Technology Development Co., Ltd. (Yuxing). The Company’s segments include Jinong (fertilizer production), Gufeng (fertilizer production) and Yuxing (agricultural products production). The Company’s primary business is of fertilizer products, specifically humic acid-based compound fertilizer produced through Jinong, and compound fertilizer, blended fertilizer, organic compound fertilizer, slow-release fertilizers, water-soluble fertilizers and mixed organic-inorganic compound fertilizer produced through Gufeng.
