LOS ANGELES, July 28, 2021 (GLOBE NEWSWIRE) – ATIF Holdings Limited (Nasdaq: ATIF, the “Company”), a holding group providing business and financial advice in Asia and North America, today announced that the July 26, 2021, he has received a written notice (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) stating that the Company is not in compliance with the minimum bid price requirement. of US $ 1.00 per share under the Nasdaq Listing Rules (the “Listing Rules”). Based on the closing bid price of the listed securities of the Company for the last 30 consecutive business days from June 11, 2021 to July 23, 2021, the Company no longer meets the minimum bid price requirement set out in listing rule 5550 (a) (2). The Notice is only a notification of insufficiency, not an impending delisting, and has no current effect on the listing or trading of the securities of the Company on the Nasdaq Capital Market.
The notice states that under listing rule 5810 (c) (3) (A), the company has a compliance period of 180 calendar days, or until January 24, 2022, to comply. back to the registration rules. To restore compliance with the Listing Rules, the Company’s listed securities must be at least $ 1.00 for a minimum of ten consecutive business days. If the Company does not restore compliance by January 24, 2022, the Company may be given additional time to restore compliance or may be subject to delisting.
The Company intends to monitor the closing bid price of its common shares by January 24, 2022 and assess its available options to return to compliance within the compliance deadline.
The Company intends to remedy the deficiency and to re-comply with the Listing Rules.
About ATIF Holdings Limited
ATIF Holdings Limited (“ATIF”) is a holding group specializing in business advisory, asset management and investment with business centers located in Los Angeles, California, as well as Hong Kong and Shenzhen, China. ATIF primarily provides IPO advisory services to small and medium-sized businesses in Asia and North America. ATIF has advised several companies in China in their plans to become publicly traded in the United States. The ATIF received the “Top 10 Best Listed Companies 2019” of the “Golden Bauhinia Award”, the highest distinction of the financial and securities industry in Hong Kong. For more information, please visit https://ir.atifchina.com/.
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates” , “Proposed,”, “,”, such words or expressions (or negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, which could lead to actual results or results. differ materially from those discussed in forward-looking statements. Important factors, among others, are: future financial and operating results, including revenues, revenues, expenses, cash balances and other financial items; ability to manage growth and expansion; current and future economic and political conditions; ability to compete in an industry with low barriers to entry; ability to secure additional funding in the future to fund capital expenditures; ability to attract new customers and further improve brand recognition; ability to hire and retain qualified management personnel and key employees; trends and competition in the financial advisory services industry; a pandemic or epidemic; and other factors listed in the Company’s annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that these expectations will prove to be correct, and the Company cautions you that actual results may differ materially from the anticipated results expressed or implied by the statements. prospective that we do. You should not rely on forward-looking statements as predictions of future events. Forward-looking statements represent the beliefs and assumptions of our management only as of the date on which such statements are made. These forward-looking statements are made as of the date of this press release.
CONTACT: Media contact: Anna Huang, +86-139-2726-7157, [email protected]