Singularity Future Technology Announces Regaining Compliance with Nasdaq Listing Requirement

Rhea-AI Summary

Singularity Future Technology Ltd. (Nasdaq: SGLY) announced on March 22, 2023, that it has regained compliance with Nasdaq Listing Rule 5250(c)(1). This rule mandates timely filing of periodic financial reports with the SEC. The notification received on March 16 confirmed that the compliance matter is now closed. This positive development marks a significant step for Singularity, a company established in 2001 that specializes in logistics solutions for the steel and e-commerce sectors. The company primarily offers freight logistics including shipping and warehouse services.

Positive

• Regained compliance with Nasdaq Listing Rule 5250(c)(1).
• The compliance matter is now officially closed.

Negative

• None.

Great Neck, N.Y., March 22, 2023 (GLOBE NEWSWIRE) -- Singularity Future Technology Ltd. (Nasdaq: SGLY) (“Singularity” or the “Company”) announced today that on March 16, 2023, it received a formal notification from The Nasdaq Stock Market LLC confirming that the Company had regained compliance with the Nasdaq Listing Rule 5250(c)(1), which requires the Company to timely file all required periodic financial reports with the Securities and Exchange Commission, and that the matter is now closed..
  
About Singularity Future Technology Ltd.

The Company is a global logistics integrated solution provider that was founded in the United States in 2001. The Company primarily focuses on providing freight logistics services, which mainly include shipping, warehouse, resources, equipment, and other logistical support to steel companies and e-commerce businesses.

For more information, please contact:

IR@singularity.us
Phone number: 718-888-1814

FAQ

What does the Nasdaq compliance regain mean for SGLY?

Regaining Nasdaq compliance indicates that Singularity Future Technology Ltd. has met the requirements for timely financial report filings, which is a positive sign for investors.

When did Singularity Future Technology Ltd. regain compliance with Nasdaq rules?

Singularity regained compliance on March 16, 2023.

What is the significance of Nasdaq Listing Rule 5250(c)(1) for SGLY?

This rule requires companies to file periodic financial reports on time; regaining compliance signals operational stability.

What services does Singularity Future Technology Ltd. offer?

The company provides freight logistics services, including shipping and warehouse solutions primarily for steel companies and e-commerce businesses.