ATIF Holdings Limited (NASDAQ: ATIF) received notice on December 12, 2024, from The Nasdaq Stock Market LLC regarding a potential delisting of the company’s ordinary shares from the Nasdaq Capital Market. The notice was issued by Nasdaq’s Listing Qualifications Staff, citing non-compliance with the minimum $2,500,000 stockholders’ equity requirement for continued listing as reported in the Company’s Annual Report on Form 10-K for the year ended July 31, 2024.
The company intends to challenge this determination and has until December 19, 2024, to request an appeal before Nasdaq’s Hearing Panel. If a hearing is requested by the stated deadline, any potential delisting or trading suspension will be put on hold pending the completion of the hearing process. Nevertheless, there remains uncertainty whether the Company will successfully demonstrate compliance within the given timeframe.
This announcement is in compliance with Nasdaq Listing Rule 5810(b, requiring immediate disclosure of any delisting notifications. Moreover, the company issued a press release on December 17, 2024, regarding the ticker symbol change, affirming that no action is needed from existing shareholders regarding this alteration.
ATIF Holdings Limited is a Lake Forest-based business consulting company that offers professional IPO, M&A advisory, and post-IPO compliance services to small and medium-sized companies aiming to go public on a U.S. stock exchange. Notably, the company has a strong track record in providing comprehensive U.S. IPO consulting services to clients in the United States and globally.
This press release from ATIF Holdings does contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements address expectations, predictions, and future conditions, and are subject to various risks, uncertainties, and factors that could affect actual results materially. The company emphasizes that these forward-looking statements are expressions of beliefs and assumptions up to the date of communication and are not indicative of future events.
For more information, individuals can contact [email protected] for any queries or clarifications.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ATIF’s 8K filing here.
About ATIF
ATIF Holdings Limited operates as a business consulting company in Hong Kong, the United States, and Mexico. It offers financial consulting services to small and medium-sized enterprises (SMEs). The company primarily focuses on helping clients going public on the national stock exchanges and OTC markets in the United States.
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