Future FinTech Group Inc. (NASDAQ: FTFT; the “Company”), a financial technology company and integrated producer of fruit-related products, today announced that on August 20, 2019, the Company received a notification letter from the NASDAQ Listing Qualifications (“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 June 30, 2019 (the “Form 10-Q”).
Previously, in a notification letter dated July 29, 2019, NASDAQ had granted the Company an exception until August 31, 2019 to file its delinquent Form 10-K for the period ended December 31, 2018 and until September 30, 2019 to file the Forms 10-Q for the periods ended March 31 and June 30, 2019 based upon the initial plans of compliance (the “Initial Plans of Compliance”) submitted by the Company to NASDAQ.
As a result of this additional delinquency of Form 10-Q, the Company is provided until September 3, 2019 to submit an update of the Initial Plans of Compliance to regain compliance with respect to the filing requirement.
The Company intends to file its Form 10-K for the period ended December 31, 2018 before August 31, 2019 and will provide an update plan of compliance to the Nasdaq Staff before September 3, 2019. The NASDAQ notification letter has no immediate effect on the listing of the Company’s common stock on the NASDAQ Capital Market.
SOURCE Future FinTech Group Inc.