Wunong Net Technology Receives Notice of Non-compliance with NASDAQ’s Listing Rule 5250(c)(1)
Wunong Net Technology Co. Ltd. (Nasdaq: WNW) announced on May 19, 2021, that it has received notification from Nasdaq for non-compliance with Listing Rule 5250(c)(1) due to failure to file its annual report on Form 20-F for the year ended December 31, 2020. The Company has 60 days to submit a plan for compliance. Wunong aims to file its annual report by June 30, 2021, to meet the compliance requirements. Should the plan be accepted, Wunong could receive an extension of up to 180 days to regain compliance.
- Wunong is actively working to file its annual report by June 30, 2021, showing commitment to compliance.
- If the compliance plan is accepted, the Company could have an extension of up to 180 days to regain compliance.
- The failure to file the annual report on time raises concerns about the Company's financial practices.
- Non-compliance with Nasdaq rules could lead to potential delisting if not resolved promptly.
SHENZHEN, China, May 19, 2021 (GLOBE NEWSWIRE) -- Wunong Net Technology Co. Ltd. ("Wunong" or the "Company") (Nasdaq: WNW), an e-commerce company using an innovative platform to sell a myriad of food products, today announced that it received written notification on May 18, 2021, from The Nasdaq Stock Market LLC that it no longer complies with Listing Rule 5250(c)(1) for continued listing in that it has failed to file its annual report on Form 20-F for the year ended December 31, 2020.
Under the Nasdaq Rules, the Company has 60 calendar days to submit a plan to regain compliance. If its plan is accepted, the Company will be granted an extension of up to 180 calendar days from the filing’s due date (i.e. November 15, 2021) to regain compliance.
The Company is working aggressively to complete its audit and file its annual report on Form 20-F by June 30, 2021 and accordingly, regain compliance with the Nasdaq Rules ahead of the deadline to submit its plan to regain compliance.
About Wunong Net Technology Co. Ltd
Wunong Net Technology Co. Ltd operates as an e-commerce company retailing food products. The Company sells green food, organic food, heritage food products, pollution-free products, and more. Food safety, product quality and sustainability are the company's core values. Wunong is committed to providing their customers with safe, high-quality, nutritious, tasty and non-genetically modified food products through their portfolio of trusted and well-known suppliers.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact:
Mr. Changbin Xia
Email:xcb@wnw108.com
FAQ
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