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GUANWEI RECYCLING CORP. FILES (8-K) Disclosing Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

August 29, 2014



Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On August 25, 2014, Guanwei Recycling Corp. (the "Company") received notice (the "Notice") from The NASDAQ Stock Market LLC ("Nasdaq") that the Company is not in compliance with the Listing Rules of Nasdaq (the "Listing Rules") since the Company had not filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2014 ("Filing"). The Company is afforded 30 calendar days to prepare and submit a plan of compliance.

In determining whether to accept the Company's plan, Nasdaq will consider such things as the likelihood that the Filing, along with any subsequent periodic filing that will be due, can be made within the 180 day period, the Company's past compliance history, the reasons for the late Filing, other corporate events that may occur within our review period, the Company's overall financial condition and its public disclosures. If Nasdaq accepts the Company's plan, it can grant an extension of up to 180 calendar days from the Filing's due date or until February 17, 2015 to regain compliance. If Nasdaq were not to accept the Company's plan, the Company would have the opportunity to appeal that decision to a Hearings Panel.

The Company intends to consider all available options to regain compliance with the requirements of the Listing rules. There can be no assurance that the Company will develop a plan to regain compliance, that Nasdaq will accept such plan, that any such plan will be successful, that the Company will appeal any determination by Nasdaq to reject the plan, that Nasdaq will grant any such appeal, or that the Company will be able to regain or subsequently maintain compliance with the requirements for continued listing under the Listing Rules. Failure to maintain listing on Nasdaq of the Company's common stock may have a material adverse effect on the price or liquidity of the common stock.


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Source: Edgar Glimpses


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