Singularity Future Technology (SGLY) Receives Nasdaq Delinquency Notice on Late Filing of its Form 10-Q

Singularity Future Technology Ltd. (Nasdaq: SGLY) today announced it received a notice of non-compliance from Nasdaq Stock Market LLC on May 24, 2022 notifying the Company that, as a result of the Company's failure to timely file its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) , which requires listed companies to timely file all periodic financial reports with the U.S. Securities and Exchange Commission.

Under Nasdaq's listing rules, the Company has 60 calendar days to submit a plan to regain compliance. If the plan is accepted by Nasdaq, the Company can be granted up to 180 calendar days from the Form 10-Q due date, or until November 21, 2022, to regain compliance.

The Company is working diligently to complete its Form 10-Q and intends to file the Form 10-Q as soon as practicable to regain compliance with the Rule. This notice has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq; however, if the Company fails to timely regain compliance with the Rule, the Company's common stock will be subject to delisting from Nasdaq.

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