NF ENERGY SAVING CORPORATION (NASDAQ:NFEC) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
On August 16, 2019, NF Energy Saving Corporation (the “Company”) received a notification letter from The Nasdaq Stock Market LLC (“Nasdaq”) stating that, because the Company’s Form 10-Q for the period ended June 30, 2019 has not been filed, the Company is not in compliance with NASDAQ’s Listing Rules for continued listing.
The Company has not yet filed its Annual Report on Form 10-K for the period ended December 31, 2018 nor Form 10-Q for the period ended March 31, 2019, and the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission.
The letter reiterates that the Company has been granted an exception until August 30, 2019 to file its delinquent Form 10-K for the period ended December 31, 2018 and Form 10-Q for the period ended March 31, 2019 and until September 16, 2019, to file its Form 10-Q for the period ended June 30, 2019.
As a result of the additional delinquency, Nasdaq requested that the Company submit an update to its original plan no later than August 30, 2019 as to how to regain compliance with respect to the filing requirement. The update should be as definitive as possible, including plans to file the delinquent reports on the schedule set forth above.
On August 21, 2019, the Company issued a press release announcing its receipt of Nasdaq’s notification letter. A copy of the press release is attached as Exhibit 99.1 to this current report on Form 8-K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit Description
99.1 Press Release dated August 21, 2019
NF Energy Saving Corp Exhibit
EX-99.1 2 f8k081619ex99-1_nfenergy.htm PRESS RELEASE DATED AUGUST 21,…
To view the full exhibit click here
About NF ENERGY SAVING CORPORATION (NASDAQ:NFEC)
NF Energy Saving Corporation is a provider of energy services. The Company’s principal business is the production and sales of energy-saving flow control equipment, and intelligent flow control equipment. The Company operates through two segments: Heavy manufacturing business and Energy-saving related business. The Heavy manufacturing business segment includes production of valves components and the provision of valve improvement and engineering services. The Energy-saving related business segment includes provision of energy-saving related re-engineering and technical services, and long-term construction project. It provides equipment related to desulfurization, denitration and dust removal for electric power generation, metallurgy, petrochemical, steel, cement and heating supply industries, and provides consulting services, such as energy efficiency optimization design, energy consuming equipment retrofit and engineering, equipment maintenance and services, and energy management.
