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Share Name | Share Symbol | Market | Type |
---|---|---|---|
China Internet Nationwide Financial Services Inc | NASDAQ:CIFS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.589899 | 0.562 | 0.58 | 0 | 01:00:00 |
Period below $5,000,000 MVPHS | Expiration of 180 calendar day compliance period | Public Announcement Due Date | Relevant Listing Rules |
March 2, 2020 to April 15, 2020 | October 13, 2020 | April 22, 2020 | 5450(b)(1)(C) – MVPHS5810(c)(3)(D) – compliance period5810(b) – public disclosure5505 – Capital Market criteria |
The Company was informed that if at any time during this compliance period the Company’s MVPHS closes at $5,000,000 or more for a minimum of ten consecutive business days, the Nasdaq would provide the Company written confirmation of compliance and this matter would be closed. In the event the Company does not regain compliance with the Rules prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting. Alternatively, the Company may consider applying to transfer the Company’s securities to The Nasdaq Capital Market (the “Capital Market”). In order to transfer, the Company must submit an on-line Transfer Application, pay the $5,000 application fee, and meet the Capital Market’s continued listing requirements.
The Company intends to actively monitor its closing bid price for its ordinary shares between now and October 31, 2020 and intends to take any reasonable actions to resolve the Company’s noncompliance with the Rules. No determination regarding the Company’s response has been made at this time. There can be no assurance that the Company will be able to regain compliance with the Rules or will otherwise be in compliance with other Nasdaq listing criteria.
Contact information
Jinchi XU Chief Financial Officer xujinchi@cifsp.com
1 Year China Internet Nationwid... Chart |
1 Month China Internet Nationwid... Chart |
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