regulatory
confidence high
sentiment negative
materiality 0.85
Singularity Future Technology receives Nasdaq delisting notice for delayed filings; will request hearing
Singularity Future Technology Ltd.
- Nasdaq determined compliance plan not definitive; cited short timeframe, need for new auditor, and CEO/CFO departures.
- Delisting notice stems from failure to file Form 10-Q for Q ended March 31, 2022 and Form 10-K for FY ended June 30, 2022.
- Company will request a hearing; automatic stay of delisting through October 25, 2022, with request for extension.
- No assurance that the Panel will grant continued listing or that the Company will ultimately regain compliance.