SkyPeople Fruit Juice, Inc. (NASDAQ:SPU) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item3.01.
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Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On November 18, 2016, SkyPeople Fruit Juice, Inc. (the Company)
received an additional determination letter from the staff of the
Listing Qualifications Department (the Staff) of The NASDAQ Stock
Market LLC (NASDAQ) stating the Company was not in compliance
with NASDAQ Listing Rule 5250(c)(1), due to its failure to timely
file its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2016, and that this filing delinquency serves as an
additional basis for delisting the Companys securities from the
Nasdaq Stock Market.
Previously, on April 20, 2016, May 24, 2016, and August 17, 2016,
Staff notified the Company that it did not comply with Nasdaqs
filing requirements set forth in Listing Rule 5250(c)(1) (the
Rule) because it had not respectively filed its Form 10-K for the
period ended December 31, 2015 and its Forms 10-Q for the periods
ended March 31, 2016 and June 30, 2016 (collectively, the
Reports).
On October 12, 2016, the Company received a delisting
determination letter (the Determination Letter) from the Staff of
NASDAQ because the Company had not filed the Reports by October
11, 2016, the deadline by which the Company was to file all the
Reports in order to regain compliance with the Rule.
On October 19, 2016, the Company requested a hearing before the
Nasdaq Hearings Panel (the Panel) to appeal the delisting
determination from the Staff. On November 2, 2016, the Company
was granted an extended stay as to the suspension of the
Company’s shares from trading by the Panel until the Company’s
scheduled hearing before the Panel on December 15, 2016 and
issuance of a final Panel decision.
As a result of this additional delinquency of Form 10-Q, the
Panel will consider this matter in rendering a determination
regarding the Companys continued listing on The Nasdaq Global
Market. to Listing Rule 5810(d), the Company plans to present its
views with respect to this additional deficiency at the hearing.
About SkyPeople Fruit Juice, Inc. (NASDAQ:SPU)
SkyPeople Fruit Juice Inc. is a holding company. The Company has two direct wholly owned subsidiaries: Pacific Industry Holding Group Co. Ltd. (Pacific) and Harmony MN Inc. (Harmony). Through its indirect subsidiaries in the People’s Republic of China the Company is engaged in the production and sale of fruit juice concentrates ( including fruit purees concentrated fruit purees and concentrated fruit juices); fruit beverages ( including fruit juice beverages and fruit cider beverages) and other fruitrelated products ( including primarily organic and nonorganic fresh fruits dried fruit preserved fruit fructose) in and from the People’s Republic of China. The Company’s core products include fruit juice concentrates mainly including concentrated apple pear and kiwi juices; fruit beverages including pure fruit beverages and fruit cider beverages; and other fruitrelated products including fresh fruits and vegetables and fructose. SkyPeople Fruit Juice, Inc. (NASDAQ:SPU) Recent Trading Information
SkyPeople Fruit Juice, Inc. (NASDAQ:SPU) closed its last trading session up +0.18 at 6.46 with 271,194 shares trading hands.
