XI'AN, China, Jan. 3, 2017 /PRNewswire/ -- SkyPeople Fruit
Juice, Inc. (NASDAQ: SPU) ("SkyPeople" or "the Company"), a
producer of fruit juice concentrates, fruit juice beverages and
other fruit-related products, today announced that the Nasdaq
Hearings Panel (the "Panel") has granted SkyPeople's request to
remain listed on The Nasdaq Stock Market subject to certain
conditions.
These conditions are that on or before January 30, 2017, the Company shall inform the
Panel that it is current in its periodic filings with the
Securities and Exchange Commission (the "SEC"). Further, the
Company must be able to demonstrate compliance with all
requirements for continued listing on The Nasdaq Stock
Market. In the event the Company is unable to do so, its
securities may be delisted from The Nasdaq Stock Market. The
Company is also required during the current exception period up
until January 30, 2017 to provide
prompt notification of any significant event which includes, but is
not limited to, any event that may call into question the Company's
historical financial information or that may impact the Company's
ability to maintain compliance with any Nasdaq listing requirement
or exception deadline.
On December 15, 2016, the Company
had a hearing before the Panel to appeal the delisting
determination from the Staff of the Listing Qualifications
Department of Nasdaq (the "Nasdaq Staff"). The hearing was a result
of delisting determination letters from Nasdaq Staff notifying the
Company that it had not filed its Annual Report on Form 10-K for
the fiscal year ended December 31,
2015 and its Quarterly Reports on Form 10-Q for the quarters
ended March 31, 2016, June 30, 2016 and September 30, 2016, and so its securities were subject to delisting.
The Company has now filed both its Annual Report on Form 10-K
for the fiscal year ended December 31,
2015 and its Quarterly Report on Form 10-Q for the quarter
ended March 31, 2016 with the
SEC.
The Company believes that it will be able to file its Quarterly
Reports on Form 10-Q for the quarters ended June 30, 2016 and September 30, 2016, respectively, by January 30, 2017, the date by which the Panel has
indicated that the Company must be current in its periodic filings
with the SEC.
"We are pleased with the decision of the hearing panel and are
confident that we will be able to file our quarterly reports with
the SEC by the time indicated by the Panel," said Mr. Hongke Xue,
Chief Executive Officer of SkyPeople. "We remain focused on our
operations and strategic growth plans and are appreciative of the
support that our shareholders have shown us as we become current
with our filings."
About SkyPeople Fruit Juice, Inc.
SkyPeople Fruit Juice, Inc., a Florida company, through its wholly-owned
subsidiary Pacific Industry Holding Group Co., Ltd. ("Pacific"), a
Vanuatu company, and SkyPeople
Juice International Holding (HK) Ltd., a company organized under
the laws of Hong Kong Special Administrative Region of the People's Republic of China and a wholly
owned subsidiary of Pacific, holds 73.42% ownership interest in
SkyPeople Juice Group Co., Ltd. ("SkyPeople (China)") and 100% ownership interest in
SkyPeople Foods (China) Co., Ltd.
("SkyPeople Foods China"). SkyPeople (China) and ("SkyPeople Foods China"), together
with their operating subsidiaries in China, are engaged in the production and sales
of fruit juice concentrates, fruit beverages, and other fruit
related products in the PRC and overseas markets. The Company's
fruit juice concentrates are sold to domestic customers and
exported directly or via distributors. Fruit juice concentrates are
used as a basic ingredient component in the food industry. Its
brands, "Hedetang" and "SkyPeople," which are registered trademarks
in the PRC, are positioned as high quality, healthy and nutritious
end-use juice beverages. For more information, please visit
http://www.skypeoplefruitjuice.com.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended, or the
Exchange Act. Forward-looking statements include statements with
respect to our beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the actual results, performance, capital, ownership or achievements
of the Company to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements other than statements of
historical fact are statements that could be forward-looking
statements. You can identify these forward-looking statements
through our use of words such as "may," "will," "anticipate,"
"assume," "should," "indicate," "would," "believe," "contemplate,"
"expect," "estimate," "continue," "plan," "point to," "project,"
"could," "intend," "target" and other similar words and expressions
of the future.
All written or oral forward-looking statements attributable to
us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 10-K for the
year ended December 31, 2015 and
otherwise in our SEC reports and filings, including the final
prospectus for our offering. Such reports are available upon
request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to
update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
For more
information, please contact:
|
|
COMPANY
|
Cindy Liu, Investor
Relations Manager
|
SkyPeople Fruit
Juice, Inc.
|
Tel:
China + 86 - 29-8837-7161
|
Email:
skypeople_annie@163.com
|
Web:
http://www.skypeoplefruitjuice.com
|
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SOURCE SkyPeople Fruit Juice, Inc.