SkyPeople Fruit Juice (SPU) Receives Nasdaq Listing Notification
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SkyPeople Fruit Juice, Inc. (Nasdaq: SPU) announced that on September 2, 2016, the Company received a letter from the Nasdaq Listing Qualifications Staff (the "Nasdaq Staff").
The letter states that Nasdaq Staff has determined to continue the exception that the Company has been granted to file its annual report on Form 10-K for the period ended December, 31, 2015 (the "Form 10-K") and its quarterly report on Form 10-Q for the period ending March 31, 2016, to also include its quarterly report on Form 10-Q for the period ending June 30, 2016 (the "Forms 10-Q"). The terms of the exception are that on or before October 11, 2016, the Company must file the Form 10-K and Forms 10-Q so as to regain compliance with Nasdaq Rule 5250(c)(1). The letter was sent in response to the updated plan of compliance that the Company submitted to Nasdaq Staff.
In the event that the Company does not file its Form 10-K and Forms 10-Q on October 11, 2016, Nasdaq Staff has stated that it will provide written notification that the Company's securities will be delisted. At that time, the Company may appeal the Nasdaq Staff's determination to a Hearing Panel under Listing Rule 5815(a).
The Company expects to file its Form 10-K and Forms 10-Q on or before October 11, 2016.
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