Aoxin Tianli Group (ABAC) Regains NASDAQ Compliance
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Aoxin Tianli Group, Inc. (NASDAQ: ABAC) received notice from The Nasdaq Stock Market LLC ("NASDAQ") that it has regained compliance with NASDAQ Marketplace Rule 5550(a)(2) (the "Rule"), which requires that the closing bid price per share of a listed company be at least $1.00 per share.
As previously announced, on September 21, 2015, NASDAQ notified the Company that the bid price of its common shares had closed at less than $1.00 per share over the previous 30 consecutive business days and, as a result, the Company was not in compliance with the Rule. On March 22, 2016, the Company received a letter from NASDAQ granting the Company an additional 180-day period, or until September 19, 2016, in which to regain compliance with the Rule.
On September 26, 2016, NASDAQ notified the Company that the closing bid price of the common shares had been $1.00 per share or greater for more than 10 consecutive business days, from September 9, 2016 to September 22, 2016. Accordingly, the Company has regained compliance with the Rule.
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