Item 3.01. Notice of delisting or non-compliance with a rule or standard for maintaining registration; Registration transfer.
On October 14, 2022, China Green Agriculture, Inc. (the “Company”) has received notice from New York Stock Exchange (the “NYSE”) that the company is not in compliance with the NYSE’s continuous listing requirements under the timely filing criteria set forth in Section 802.01E of the NYSE Listed Companies Handbook due to its failure to timely file its annual report on Form 10-K for the fiscal year ended June 30, 2022 (the “2022 Form 10-K”).
As disclosed by the Company in its Form 12b-25 filed with the Security and Exchange Commission (the “SEC”) on September 30, 2022, the Company was unable to file Form 10-K 2022 within the prescribed time without unreasonable effort or expense. The extension period provided for in Rule 12b-25 expired on
October 13, 2022. The Company is unable to meet its 2022 Form 10-K filing deadline due to circumstances related to COVID-19. The principal businesses and activities of the Company are carried out in Chinawhere the outbreak of the COVID-19 pandemic occurred in 2020 and continues to impact the Company in 2022. During 2022, Some companies the facilities had been placed under quarantine control and many employees had been placed in mandatory quarantine. In addition, many domestic and international travels have been severely restricted from time to time in China. Thus, the Company’s operations had been impacted in 2022. As a result, the Company’s accounting team was only able to complete its 2022 Form 10-K after October 20, 2022. The Company is currently working closely with its primary accounting firm to complete the filing of its 2022 Form 10-K as soon as reasonably possible.
The NYSE has advised the Company that, in accordance with NYSE rules, the Company will have six months from the filing deadline to file its 2022 Form 10-K. The Company may regain compliance with listing standards on the NYSE during this six-month period when the company files its 2022 Form 10-K with the SECOND. If the Company does not file its 2022 Form 10-K within such six-month period, the NYSE may, at its sole discretion, permit trading of the Company’s common stock for an additional six months depending on specific circumstances. Until the company files its 2022 Form 10-K, the company’s common stock will remain listed on the NYSE under the symbol “CGA” and will be assigned an “LF” flag to signify late filing status.
As noted above, the company is working diligently to complete its 2022 Form 10-K to regain compliance with NYSE continuous listing standards.
Item 8.01 Other Events.
In accordance with NYSE procedures, the Company has issued a press release announcing receipt of the NYSE letter dated October 14, 2022. Attached as Exhibit 99.1 herein, and incorporated herein by reference, is a copy of the Company’s press release dated October 20, 2022announcing receipt of the NYSE letter.
Item 9.01. Financial statements and supporting documents.
99.1 Press Release dated October 20, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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