Singularity Future Technology Received Nasdaq Delinquency Notice on Late Filing of its Form 10-Q

Singularity Future Technology Received Nasdaq Delinquency Notice on Late Filing of its Form 10-Q

  • Technology
  • May 25, 2022
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  • 5 minutes read


GRAN COLL, NY, May 25, 2022 / PRNewswire / – Singularity Future Technology Ltd. (“Singularity” or “Company”) (Nasdaq: SGLY) announced today that it has received a notice of default from Nasdaq Stock Market LLC (“Nasdaq”) on May 24, 2022 notifying the company that, as a result of the lack of timely submission of the quarterly report on Form 10-Q for the completed quarterly period, March 31, 2022 (the “Form 10-Q”), the Company does not comply with the Nasdaq 5250 (c) (1) Contribution Standard (the “Rule”), which requires listed companies to submit all periodic financial reports in a timely manner. with the US Securities and Exchange Commission (the “SEC”).

According to the Nasdaq trading rules, the company has 60 calendar days to file a plan to regain compliance. If the Nasdaq accepts the plan, the company may be granted up to 180 calendar days from the expiration date of Form 10-Q or up to November 21, 2022to regain compliance.

The company is working diligently to complete its 10-Q form and intends to file the 10-Q form as soon as possible to regain compliance with the rule. This notice has no immediate effect on the listing or trading of the Company’s common shares on the Nasdaq; however, if the company fails to properly comply with the rule, the company’s common shares will be subject to withdrawal from the Nasdaq listing.

About Singularity Future Technology Ltd. (Nasdaq: SGLY)

Turned on January 3, 2022, the company changed its name to Sino-Global Shipping America, Ltd. and Singularity Future Technology Ltd. (Nasdaq: SGLY). From 2020, it plans to develop a presence in the Blockchain supply management area by focusing on solutions for globally interconnected networks and establishing cryptocurrency pools. As the Blockchain landscape changes constantly, the company strives to provide involvement and an ecosystem to its customers in this ever-changing space. The company is based on its existence as a global company of logistics and ship management services, founded in 2001 in New Yorkwith subsidiaries in New York, Houston, Montreal, Hong Kong, Shanghaii Ningbo, China. The company provided customers with all their logistics and shipping agency needs as a full service provider. Additional information about the company can be found on the company’s corporate website at www.singularity.us.

Prospective statements

Some statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions within the meaning of section 27A of the Securities Act, 1933, as amended, and section 21E of the Stock Exchange Act. of 1934, as amended. . Forward-looking statements include statements about the company’s expectations regarding the company’s ability to file Form 10-Q with the SEC and regain compliance with the Nasdaq listing rule. Forward-looking statements include statements that are not historical facts and can be identified with terms such as “anticipate”, “believe”, “could”, “love”, “expect”, “try”, “power”, “plan,” “” “potential”, “predict”, “project”, “search”, “should”, “should”, “would like” or similar expressions and the negatives of these terms. and the timing of events may differ materially from those provided for in these forward-looking statements as a result of certain risks and uncertainties, including those described in more detail in the company’s most recent annual report on Form 10-K for the fiscal year. year end June 30, 2021 and other SEC-registered documents, each of which can be found on the SEC’s website, www.sec.gov, or in the investor relations section of the company’s website. Except as required by law, the Company assumes no obligation to update these forward-looking statements, nor to update the reasons why actual results may differ materially from those provided for in these forward-looking statements, even if there are new information available in the future.

FONT Singularity Future Technology Ltd.



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