Fresh2 Group gets Nasdaq staff delisting determination, to request hearing

Fresh2 Group (FRES) announced that on October 16 it received a Staff Determination Letter from the Nasdaq Stock Market indicating that the Company did not comply with Nasdaq’s filing requirements as set forth in Listing Rule 5250(c)(1). The letter is a result of the Company’s failure to file its Form 10-K for the year ended December 31, 2023, and its Forms 10-Q for the periods ended March 31, and June 30, within the required deadlines. Nasdaq had previously granted the Company an exception until September 27, 2024, to regain compliance. Nasdaq has determined that the Company has not met the terms of the exception, as the Company has yet to file the necessary reports. Fresh2 intends to timely request a hearing before a Nasdaq Hearings Panel to appeal the delisting determination, to stay the suspension of the Company’s securities for 15 days from the date of the hearing request. The Company also plans to request a stay of the suspension pending the hearing. The Company intends to present a plan to achieve and sustain compliance for continued listing and to request an extension of time within which to complete its compliance plan. However, there can be no assurance that the Panel will grant the Company’s request for a further extension or that the Company will ultimately regain compliance with all applicable requirements for continued listing.