See feature articles below: SkyPeople Fruit Juice, Inc. (NASDAQ: SPU)
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Report For: SkyPeople Fruit Juice, Inc. (NASDAQ: SPU)
Shares of SPU are up 13% today at $1.93 as the stock resumed NASDAQ trading after more than a month long halt for failing to meet NASDAQ listing requirements.
NEW YORK, April 25, 2016 (GLOBE NEWSWIRE) — The Nasdaq Stock Market® (NDAQ) announced that trading in SkyPeople Fruit Juice, Inc. (SPU) is scheduled to resume on Tuesday, April 26, 2016 at 7:15 a.m., Eastern Time. Trading in the company’s stock was halted on April 15, 2016 at 09:23:49 Eastern Time.
Source – Company Press Release
About SkyPeople Fruit Juice, Inc.
SkyPeople Fruit Juice, Inc., a Florida company, through its wholly-owned subsidiary Pacific Industry Holding Group Co., Ltd. (“Pacific”), a Vanuatu company, and SkyPeople Juice International Holding (HK) Ltd., a company organized under the laws of Hong Kong Special Administrative Region of the People’s Republic of China and a wholly owned subsidiary of Pacific, holds 73.42% ownership interest in SkyPeople Juice Group Co., Ltd. (“SkyPeople (China)”). SkyPeople (China), together with its operating subsidiaries in China, is engaged in the production and sales of fruit juice concentrates, fruit beverages, and other fruit related products in the PRC and overseas markets. Its fruit juice concentrates are sold to domestic customers and exported directly or via distributors. Fruit juice concentrates are used as a basic ingredient component in the food industry. Its brands, “Hedetang” and “SkyPeople,” which are registered trademarks in the PRC, are positioned as high quality, healthy and nutritious end-use juice beverages.
XI’AN, China, April 22, 2016 /PRNewswire/ — SkyPeople Fruit Juice, Inc. (SPU) (“SkyPeople” or “the Company”), a producer of fruit juice concentrates, fruit juice beverages and other fruit-related products, today announced that on April 20, 2016, the Company received a letter from the Nasdaq Listing Qualifications Staff (the “Nasdaq Staff”), stating that it has utilized its discretionary authority under Nasdaq Listing Rule 5101 to determine that the Company has until May 20, 2016 to submit a plan of compliance for continued listing on Nasdaq. The Company no longer complies with Nasdaq’s listing rules as stipulated by Nasdaq Rule 5250(c)(1) due to its inability file its Annual Report for the fiscal year ended December 31, 2015 on Form 10-K in a timely manner. If the plan is accepted, the Company can be granted an exemption of up to 180 calendar days, or until October 11, 2016, to regain compliance. The Company may regain compliance at any time during this 180-day period upon filing its 2015 10-K, as well as all subsequent required periodic reports that are due within that period. If Nasdaq does not accept the Company’s compliance plan, the Company will have the opportunity to appeal that decision to a Hearing Panel under Listing Rule 5815(a). SkyPeople intends to provide a plan of compliance to the Nasdaq Staff on or before May 20, 2016.
Source – Company Press Release
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