Singularity Future Tech gets Nasdaq cancellation notice, plans to ask for hearing

Date:

Share post:

[ad_1]

By Stephen Nacrosis

Singularity Future Technology Ltd. It said on Friday it received a delisting notice from the Nasdaq Stock Market LLC’s listing eligibility department on Oct. 3.

According to the logistics and shipping management services company, the notice said the warrants could be canceled “unless the company timely requests a hearing before a Nasdaq hearing panel.” The company said it intends to request a hearing.

The company said it had previously received a notice of default from Nasdaq for not complying with the exchange’s listing rules by delaying its Form 10-Q for the quarter ending March 31, 2022. He presented the plan to restore compliance on two occasions. According to Singularity, Nasdaq staff determined that the company did not provide a definitive plan demonstrating its ability to file the required reports within the 180 calendar day period required by Nasdaq rules.

The company said it “intends to make every effort to maintain the listing,” but “there is no assurance that the company will ultimately comply with all applicable requirements for further listings.”

At 5:22 pm ET, the company’s shares were down 17.03%, to trade at $1.90. The stock ended the day’s regular session with a 10.55% loss, closing at $2.29 per share.

The stock touched a 52-week low of $2.28 per share earlier in the session.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

[ad_2]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

Houses of Lashkar Terrorists Linked to Pahalgam Attack Destroyed in Explosive Blast

Houses of Lashkar Terrorists Linked to Pahalgam Attack Destroyed in Explosive Blast In a dramatic escalation of India’s counter-terrorism...

India Responds with Diplomatic Fury After Deadly Kashmir Attack

India has launched a swift and multifaceted response that underscores the gravity with which the nation views the...

Aurora Magic Continues: Northern Lights Dazzle Skies Across the North

Aurora Magic Continues: Northern Lights Dazzle Skies Across the North The mesmerizing dance of the Northern Lights continues to...

Terror Strikes Pahalgam: 26 Killed in Brutal Attack on Tourists

Terror attack in Pahalgam, Jammu and Kashmir, resulted in the deaths of 26 individuals, including 25 Indian nationals...