Tantech Received Notification of Deficiency from Nasdaq Related to not timely Filing of Annual Report Form 20-F
Tantech Holdings Ltd (NASDAQ: TANH) received a notice of non-compliance from Nasdaq on May 18, 2022, due to the late filing of its annual report on Form 20-F for the fiscal year ending December 31, 2021. This situation puts the company at risk of non-compliance with Nasdaq Listing Rule 5250(c)(1), but does not immediately affect the trading of its shares. Tantech has 60 days to submit a compliance plan and can be granted up to 180 days to regain compliance if accepted.
- Company's operations and products include bamboo charcoal-based products and electric vehicles.
- Tantech is ISO 90000 and ISO 14000 certified.
- Late filing of annual report indicates potential operational or financial management issues.
- Risk of delisting from Nasdaq if compliance is not regained.
LISHUI, China, May 19, 2022 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company"), a clean energy company, today announced it has received a notice of non-compliance from Nasdaq Stock Market LLC ("Nasdaq") on May 18, 2022 stating that, as a result of not having timely filed its annual report on Form 20-F for the year ended December 31, 2021, Tantech is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission. This notice has no immediate effect on the listing or trading of Tantech's common shares on the Nasdaq.
Under Nasdaq's listing rules, the Company has 60 calendar days to submit a plan to regain compliance. If the plan is accepted by Nasdaq, the Company can be granted up to 180 calendar days from the Company's Form 20-F's filing due date, or until November 14, 2022, to regain compliance.
About Tantech Holdings Ltd
For the past decade, Tantech has been a highly specialized high-tech enterprise producing, researching and developing bamboo charcoal-based products with an established domestic and international sales and distribution network. Since 2017, when the Company acquired
Forward-Looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the sales, plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the Company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as expressly required by applicable law.
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SOURCE Tantech Holdings Ltd.
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