Agape ATP Corp. Faces Nasdaq Delisting

TL;DR

Nasdaq's kicking Agape ATP Corp. off the exchange, they gotta fight it or get booted.

AI Summary

Agape ATP Corp. announced on April 4, 2024, that it received a notice from the Nasdaq Stock Market on March 27, 2024, indicating non-compliance with listing rules. The company has been notified that its securities will be delisted from the Nasdaq Capital Market unless it requests a hearing.

Why It Matters

This filing signals potential delisting from a major stock exchange, which could significantly impact the company's liquidity, investor confidence, and ability to raise capital.

Risk Assessment

Risk Level: high — The company is facing delisting from the Nasdaq, which poses a significant threat to its market presence and investor accessibility.

Key Players & Entities

• Agape ATP Corp. (company) — Registrant
• Nasdaq Stock Market (company) — Exchange issuing delisting notice
• April 4, 2024 (date) — Date of report
• March 27, 2024 (date) — Date of earliest event reported (notice received)

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share ATPC NASDAQ Capital Mark
• $35 million — 50(b)(3), to maintain a minimum MVLS of $35 million. Nasdaq has provided the Company with

Filing Documents

• form8-k.htm (8-K) — 34KB
• 0001493152-24-013182.txt ( ) — 205KB
• atpc-20240404.xsd (EX-101.SCH) — 3KB
• atpc-20240404_lab.xml (EX-101.LAB) — 33KB
• atpc-20240404_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 4KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): April 4, 2024 (March 27, 2024) AGAPE ATP CORPORATION (Exact name of registrant as specified in its charter) Nevada 001-41835 36-4838886 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 1705 – 1708, Level 17, Tower 2, Faber Towers , Jalan Desa Bahagia , Taman Desa , Kuala Lumpur , Malaysia 58100 (Address of principal executive offices) (Zip Code) +(60) 192230099 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per share ATPC NASDAQ Capital Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging Growth Company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On March 28, 2024, Agape ATP Corporation (the "Company") received a letter from the Listing Qualifications staff of The Nasdaq Stock Market ("Nasdaq") notifying the Company that based on the Market Value of Listed Securities ("MVLS") of the Company for the period from February 14, 2024 to March 27, 2024, the Company no longer meets the listing requirement of Nasdaq under Nasdaq Listing Rules 5550(b)(1) and 5550(b)(3), to maintain a minimum MVLS of $35 million. Nasdaq has provided the Company with an 180 calendar days compliance period, or until September 24, 2024, in which to regain compliance with Nasdaq Listing Rules. If at anytime during this compliance period the Company's MVLS closes at $35 million or more for a minimum of ten consecutive business days, the Company will receive a confirmation of compliance and the matter will be closed. In the event that the Company does not regain compliance prior to the expiration of the compliance period, it will receive notification that its securities are subject to delisting. The Company is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq's continued listing requirement. Although the Company will use all reasonable efforts to achieve compliance with Nasdaq Listing Rules 5550(b)(1) and 5550(b)(3), there can be no assurance that the Company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq continued listing requirement. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AGAPE ATP CORPORATION Date: April 4, 2024 By: /s/ How Kok Choong Name: How Kok Choong Title: Chief Executive Officer, President, Director, Secretary and Treasurer (Principal Executive Officer) 3

View Full Filing

View this 8-K filing on SEC EDGAR