Future FinTech Group Inc. (NASDAQ: FTFT) 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 November 26, 2018, Future FinTech Group Inc. (the “Company”) received written notice from the NASDAQ Stock Market (“NASDAQ”) stating that the Company is not in compliance with the requirement of maintaining a minimum of $10,000,000 in stockholders’ equity for the continued listing on The NASDAQ Global Market, as set forth in NASDAQ Listing Rule 5450(b)(1)(A). The notice has no immediate effect on the listing of the Company's common stock, and its common stock will continue to trade on The NASDAQ Global Market under the symbol “FTFT” at this time.
Under NASDAQ Rules, the Company has 45 calendar days to submit a plan to regain compliance. If the plan is accepted, the NASDAQ can grant the Company an extension up to 180 calendars from the date of NASDAQ letter. Alternatively, the Company may consider applying to transfer the Company's securities to The NASDAQ Capital Market which has a minimum stockholders’ equity requirement of $2,500,000.
The Company will consider the various options available to the Company to regain the compliance with the continued listing rule of NASDAQ.