Agape ATP Corp. Faces Nasdaq Delisting Warning

TL;DR

Nasdaq's threatening to kick Agape ATP off the exchange for low stock price. They have 6 months to fix it.

AI Summary

Agape ATP Corp. announced on July 25, 2024, that it received a notice from the Nasdaq Stock Market on July 19, 2024, indicating its failure to meet the minimum bid price requirement for continued listing. The company has 180 days to regain compliance.

Why It Matters

This delisting warning could significantly impact the company's stock liquidity and investor confidence, potentially leading to a lower stock price.

Risk Assessment

Risk Level: high — Failure to meet listing requirements poses a significant risk to the company's continued trading on a major exchange.

Key Numbers

• 180 days — Compliance Period (The timeframe Agape ATP Corp. has to regain compliance with Nasdaq's listing rules.)

Key Players & Entities

• Agape ATP Corp. (company) — Registrant
• Nasdaq Stock Market (company) — Exchange where listing is threatened
• July 25, 2024 (date) — Date of the 8-K filing
• July 19, 2024 (date) — Date the delisting notice was received

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share ATPC NASDAQ Capital Mark
• $1 — e"), to maintain a minimum bid price of $1 per share. In accordance with Listing R

Filing Documents

• form8-k.htm (8-K) — 37KB
• 0001493152-24-029027.txt ( ) — 208KB
• atpc-20240725.xsd (EX-101.SCH) — 3KB
• atpc-20240725_lab.xml (EX-101.LAB) — 33KB
• atpc-20240725_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): July 25, 2024 (July 19, 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 January 18, 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 closing bid price of the Company for the period from November 30, 2023 to January 17, 2024, the Company no longer meets the continued listing requirement of Nasdaq under Nasdaq Listing Rules 5550(a)(2) (the "Rule"), to maintain a minimum bid price of $1 per share. In accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until July 16, 2024, to regain compliance with the Rule. On July 19, 2024, the Company received a letter from the Listing Qualifications staff of Nasdaq noting that the Company has not regained compliance with the Rule and is not eligible for a second 180 day period. Specifically, the Company does not comply with the minimum stockholders' equity requirements for initial listing on The Nasdaq Capital Market under Listing Rule 5505. Accordingly, unless the Company requests an appeal to a Hearings Panel (the "Panel") of this determination by July 26, 2024, Nasdaq have determined that the Company's securities will be scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of business on July 30, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on The Nasdaq Stock Market. The Company intends to request a hearing before the Panel. Such a request will stay any delisting action in connection with the notice and allow the continued listing of the Company's common stock on The Nasdaq Capital Market until the Panel renders a decision. At the hearing, the Company intends to present a plan to regain compliance with the Rule and request that the Panel allow the Company additional time within which to regain compliance. While the Company believes that it will be able to present a viable plan to regain compliance, there can be no assurance that the Panel will grant the Company's request for continued listing on The Nasdaq Capital Market, or that the Company's plans to exercise diligent efforts to maintain the listing of its common stock on Nasdaq will be successful. 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: July 25, 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