Business
Future FinTech Group Announces Receipt of Letter from Nasdaq and Intent to Submit Plan of Compliance
XI'AN, China, April 22, 2019 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT; the "Company"), a financial technology company and integrated producer
About this update from Future Fintech Group Inc.
[{"type":"text","content":"XI'AN, China, April 22, 2019 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT; the \"Company\"), a financial technology company and integrated producer of fruit-related products, today announced that on April 17, 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 Annual Report on Form 10-K for the year ended December 31, 2018 (the \"2018 10-K\"). The NASDAQ notification letter provides the Company 60 calendar days from the date of the notification, or until June 17, 2019, to submit a plan to NASDAQ to regain compliance with the NASDAQ's continued listing requirements. If the plan is accepted, NASDAQ can grant an exception of up to 180 calendar days, or until October 14, 2019, for the Company to regain compliance. The Company may regain compliance at any time during this 180-day period upon filing its 2018 10-K, as well as all subsequent required periodic reports that are due within that period. If NASDAQ does not accept the Company's compliance plan, the Company will have the opportunity to appeal that decision to a Hearing Panel under Listing Rule 5815(a). The NASDAQ notification letter has no immediate effect on the listing of the Company's common stock on the NASDAQ Capital Market. The Company intends to provide a plan of compliance to the NASDAQ Staff on or before June 17, 2019.\nAbout Future FinTech Group Inc.\nFuture FinTech Group Inc. (\"Future FinTech\", \"FTFT\" or the \"Company\") is incorporated in Florida and engages in fruit juice and financial technology businesses. The Company engages in the research and development of digital asset systems based on blockchain technology and also operates an incubator for application projects using blockchain technology. The Company and its subsidiaries are developing blockchain technology and cryptocurrencies for a variety of B2B and B2C real-life applications including a variety of financial businesses and the distribution, marketing and sale of consumer products. FTFT is also developing an operational online shopping mall platform utilizing blockchain technology and the shared economy. For more information, please visit http://www.ftft.top/.\nSafe Harbor Statement\nCertain of the statements made in this pre...