ATIF Holdings Faces Nasdaq Delisting Warning
Ticker: ZBAI · Form: 8-K · Filed: May 17, 2024 · CIK: 1755058
| Field | Detail |
|---|---|
| Company | Atif Holdings Ltd (ZBAI) |
| Form Type | 8-K |
| Filed Date | May 17, 2024 |
| Risk Level | high |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $2,500,000, $1,539,353, $1.23, $1,343,789.76 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, nasdaq
TL;DR
Nasdaq's coming for ATIF's listing, company's scrambling to fix it.
AI Summary
ATIF Holdings Ltd. announced on May 16, 2024, that it received a notice from the Nasdaq Stock Market indicating a failure to meet continued listing requirements. The company is currently evaluating the notice and will determine its course of action to regain compliance.
Why It Matters
This filing signals potential delisting from Nasdaq, which could significantly impact the liquidity and valuation of ATIF Holdings' stock.
Risk Assessment
Risk Level: high — Receiving a delisting notice from a major stock exchange like Nasdaq presents a significant risk to the company's ability to trade publicly and access capital.
Key Players & Entities
- ATIF Holdings Ltd (company) — Registrant
- Nasdaq Stock Market (company) — Exchange issuing delisting notice
- May 16, 2024 (date) — Date of earliest event reported
FAQ
What specific continued listing requirements did ATIF Holdings fail to meet?
The filing does not specify the exact continued listing requirements that ATIF Holdings failed to meet, only that a notice was received from the Nasdaq Stock Market.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is May 16, 2024.
What actions will ATIF Holdings take in response to the delisting notice?
ATIF Holdings is currently evaluating the notice and will determine its course of action to regain compliance with Nasdaq's listing rules.
What is the company's jurisdiction of incorporation?
ATIF Holdings Limited is incorporated in the British Virgin Islands.
What is the company's former name?
The company's former name was Asia Times Holdings Ltd, with a date of name change on October 3, 2018.
Filing Stats: 1,050 words · 4 min read · ~4 pages · Grade level 13.5 · Accepted 2024-05-17 12:07:51
Key Financial Figures
- $0.001 — on which registered Ordinary Shares, $0.001 par value ATIF Nasdaq Capital Marke
- $2,500,000 — pany's stockholders' equity be at least $2,500,000. In its 2023 10-K, the Company reported
- $1,539,353 — ompany reported stockholders' equity of $1,539,353, and, as a result, did not satisfy Nasd
- $1.23 — rdinary Shares") at a purchase price of $1.23 per share (the "Private Placement"). In
- $1,343,789.76 — eceived gross proceeds in the amount of $1,343,789.76. As previously reported in a Current Re
- $1,000,002.38 — eceived gross proceeds in the amount of $1,000,002.38 in connection with the April 18 Private
- $349,875 — ar value in lieu of an unpaid salary of $349,875 owed to Mr. Liu at a per share price of
- $0.91 — owed to Mr. Liu at a per share price of $0.91 which was the Nasdaq consolidated closi
- $200,000 — In addition the Company has recorded $200,000 in consulting service revenue in April
- $2,683,042 — e transactions described above would be $2,683,042. As of May 16, 2024, the Company beli
Filing Documents
- ea0206432-8k_atifhold.htm (8-K) — 36KB
- 0001213900-24-044589.txt ( ) — 209KB
- atif-20240516.xsd (EX-101.SCH) — 3KB
- atif-20240516_lab.xml (EX-101.LAB) — 33KB
- atif-20240516_pre.xml (EX-101.PRE) — 22KB
- ea0206432-8k_atifhold_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES 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. ATIF HOLDINGS LIMITED By: /s/ Jun Liu Jun Liu Chief Executive Officer and Chairman of the Board Date: May 17, 2024 2