Wins Finance receives listing qualifications letters from Nasdaq
Wins Finance Holdings announced that on November 18, 2019, the company received a notification letter from the NASDAQ Listing Qualificatio stating the company was not in compliance with NASDAQ Listing Rule 5250c1, due to its failure to timely file its Annual Report on Form 20-F for the year ended June 30, 2019. The NASDAQ notification letter provides the company 60 calendar days from the date of the notification, or until January 17, 2020, to submit a plan to NASDAQ to regain compliance with the NASDAQ's continued listing requirements. If the plan is accepted, NASDAQ can grant an exception of up to 180 calendar days, or until May 13, 2020, for the Company to regain compliance. The company may regain compliance at any time by filing its 2019 20-F. If NASDAQ does not accept the company's compliance plan, the company will have the opportunity to appeal that decision to a Hearing Panel under Listing Rule 5815a. The NASDAQ notification letter has no immediate effect on the listing of the company's common stock on the NASDAQ Capital Market. The company intends to provide a plan of compliance to the NASDAQ Staff on or before January 17, 2020.