| 2018-04-13 16:22:13|
CALI 16:22 04/13 04/13/18
China Auto Logistics receives non-compliance notice from SEC
In a filing, China Auto Logistics reported that as a consequence of its inability to timely file its 2017 Annual Report on Form 10-K, the company received a notification on April 10 from Nasdaq that the company is not in compliance with Nasdaq listing rule 5250(c)(1), which requires timely filing of reports with the SEC for continued listing. Under the Nasdaq rules, the company has 60 calendar days or until June 11, to submit a plan to regain compliance with the Nasdaq rules and, if the plan is accepted by Nasdaq, then Nasdaq may grant an extension until October 15 for the company to regain compliance. If Nasdaq does not accept the plan, then the company may appeal such decision to a Nasdaq Hearings Panel.