TDH Holdings discloses Nasdaq delisting notice
TDH Holdings announced that on July 9, 2019 it received a Staff Delisting Determination letter from The Nasdaq Stock Market, LLC setting forth a determination to delist the Company's common shares from The Nasdaq Capital Market as a result of the Company's inability to regain compliance with the minimum bid price continued listing requirement under Listing Rule 5550(a)(2) within the time previously allotted by the Nasdaq Staff. The company was also subsequently notified of its failure to comply with the Listing Rule 5550(b) which requires a minimum of $2.5 million in stockholders' equity, $35 million in market value of listed securities, or $500,000 in net income from continuing operations for continued listing. The company intends to appeal this Determination by requesting a hearing before a Hearings Panel. A hearing request will stay the delisting of the company's securities. The hearing date will be determined by the Nasdaq Staff following the hearing request submission date. The company plans to address the ongoing non-compliance matters before the Hearings Panel. There can be no assurance that, following the hearing, the Panel will grant the company's request for additional time to regain compliance with the Nasdaq continued listing requirements.