Sentage Holdings Inc. Receives Notice of Filing Delinquency from Nasdaq

Rhea-AI Summary

Sentage Holdings Inc. (SNTG) announced on May 18, 2022, that it received a notification from Nasdaq regarding non-compliance with timely filing requirements, as it has not submitted its Annual Report on Form 20-F for the fiscal year ended December 31, 2021. The Company has 60 days to remedy this or submit a compliance plan, which may allow for an extension of up to 180 days. The notification does not impact its business operations, and Sentage intends to submit its plan by July 18, 2022.

Positive

• Company's business operations remain unaffected by the Nasdaq notification.
• Sentage intends to act promptly to regain compliance with Nasdaq listing rules.

Negative

• Non-compliance notification from Nasdaq due to delayed filing of the 20-F report.
• Potential risk of delisting if compliance is not achieved within the allowed time frame.

Shanghai, China, May 20, 2022 (GLOBE NEWSWIRE) -- Sentage Holdings Inc. (the “Company”, “we”, “our”) (Nasdaq: SNTG), a financial service provider that offers a comprehensive range of financial services across consumer loan repayment and collection management, loan recommendation, and prepaid payment network services in China, today announced that the Company received a written notification (the “Notification”) from the Nasdaq Stock Market LLC (“Nasdaq”) on May 18, 2022, indicating the Company is not in compliance with the timely filing requirement for continued listing under Nasdaq Listing Rules 5250(c)(1) since the Company has not yet filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2021 (the “Filing”) with the Securities and Exchange Commission (the “SEC”).

In accordance with Nasdaq Listing Rule 5250(c)(1), the Company has up to 60 calendar days to either cure the deficiency or to submit a plan to Nasdaq showing how it intends to regain compliance. If the plan is accepted, Nasdaq can grant the Company an exception of up to 180 calendar days from the Filing’s due date, or until November 14, 2022, to regain compliance.

The Company's business operations are not affected by the Notification and the Company intends to submit the plan as soon as practicable but no later than July 18, 2022. This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a notification of deficiency.

About Sentage Holdings Inc.

Sentage Holdings Inc., headquartered in Shanghai, China, is a financial service provider that offers a comprehensive range of financial services across consumer loan repayment and collection management, loan recommendation, and prepaid payment network services in China. Leveraging the Company’s deep understanding of its client base, strategic partner relationships, and proprietary valuation models and technologies, the Company is committed to working with its clients to understand their financial needs and challenges and offering customized services to help them meet their respective objectives. For more information, please visit the company’s website at ir.sentageholdings.com.

Forward-Looking Statement

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review risk factors that may affect its future results in the Company’s registration statement.

For more information, please contact:

Sentage Holdings Inc.

Investor Relations Department 
Email: ir@sentageholdings.com

Ascent Investor Relations LLC

Tina Xiao
President
Tel: +1 917-609-0333
Email: tina.xiao@ascent-ir.com

FAQ

What does the Nasdaq notification mean for SNTG?

The Nasdaq notification indicates that SNTG has not met the timely filing requirements, which may lead to delisting if not resolved within the stipulated time.

When is SNTG required to submit its compliance plan?

Sentage Holdings is required to submit its compliance plan by July 18, 2022.

What is the deadline for SNTG to regain compliance with Nasdaq?

If the compliance plan is accepted, SNTG could have until November 14, 2022, to regain compliance.

How will the notification affect SNTG's business operations?

The notification does not affect SNTG's business operations, as confirmed by the Company.