Form 8-K - Current report
13 July 2023 - 6:30AM
Edgar (US Regulatory)
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2023-07-07
2023-07-07
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 7, 2023
SINGULARITY FUTURE TECHNOLOGY LTD. |
(Exact name of registrant as specified in its charter) |
Virginia |
|
001-34024 |
|
11-3588546 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
|
98 Cutter Mill Road
Suite 322
Great Neck, NY 11021 |
|
|
(Address of principal executive offices) (Zip Code) |
|
Registrant’s telephone number, including
area code: (718) 888-1814
Not Applicable |
(Former name or former address, if changed since last report) |
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:
|
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant
to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which
registered |
Common stock, no par value |
|
SGLY |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.
On July 7, 2023, Singularity Future Technology
Ltd. (the “Company” or “Registrant”) received an Notice of Noncompliance Letter (the “Letter”)
from The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rules due to
its failure to timely hold an annual meeting of shareholders for the fiscal year ended June 30, 2022 (the “Annual Meeting”),
which is required to be held within twelve months of the Company’s fiscal year end under Nasdaq Listing Rule 5620(a) and 5810(c)(2)(G).
The Letter also states that the Company has 45
calendar days to submit a plan to regain compliance (the “Plan”) and if Nasdaq accepts the Plan, it can grant the Company
an exception of up to 180 calendar days from the fiscal year end, or until December 27, 2023, to regain compliance. Nasdaq requires the
Plan to be submitted no later than August 21, 2023.
The Company is diligently working to prepare the
annual meeting and intends to take all steps necessary to regain compliance with the Nasdaq Listing Rules.
Cautionary Statement Regarding Forward Looking Statements
Statements contained in this report that are not
historical fact may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or the Company’s future financial
or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,”
“will,” “should,” “expects,” “plans,” “anticipates,” “could,”
“intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,”
“predicts,” “potential” or “continue” or the negative of these words or other similar terms or expressions
that concern the Company’s expectations, strategy, plans or intentions. Such forward-looking statements may relate to, among other
things, the Company’s continued efforts and ability to regain and maintain compliance with the Nasdaq Listing Rules. Such
forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties.
Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to a variety of factors,
including: any decision by the Nasdaq Hearing Panel to reconsider the terms of the listing exception based on new events or changes in
circumstances, including without limitation non-compliance with the Listing Rules.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: July 12, 2023 |
Singularity Future Technology Ltd. |
|
|
|
|
By: |
/s/ Ziyuan Liu |
|
Name: |
Ziyuan Liu |
|
Title: |
Chief Executive Officer |
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