ATIF Holdings Faces Delisting Notice
Ticker: ZBAI · Form: 8-K · Filed: Dec 17, 2024 · CIK: 1755058
| Field | Detail |
|---|---|
| Company | Atif Holdings Ltd (ZBAI) |
| Form Type | 8-K |
| Filed Date | Dec 17, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $2,500,000 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, regulatory
TL;DR
ATIF Holdings got a delisting notice, trading might be in trouble.
AI Summary
ATIF Holdings Limited filed an 8-K on December 17, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, effective December 12, 2024. The filing also includes other events and financial statements/exhibits.
Why It Matters
This filing indicates potential delisting from a stock exchange, which could significantly impact the liquidity and valuation of ATIF Holdings' shares.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to investors.
Key Players & Entities
- ATIF Holdings Limited (company) — Registrant
- December 12, 2024 (date) — Effective date of delisting notice
- December 17, 2024 (date) — Filing date of the 8-K
FAQ
What specific listing rule or standard did ATIF Holdings fail to satisfy?
The filing states ATIF Holdings received a notice of delisting or failure to satisfy a continued listing rule or standard, but the specific rule is not detailed in the provided text.
When is the delisting expected to take effect?
The earliest event reported is December 12, 2024, which is the date of the notice of delisting.
What are the implications of this delisting notice for ATIF Holdings' stock?
A delisting notice suggests the company may be removed from its current stock exchange, which typically leads to reduced trading volume, lower liquidity, and potential price declines.
Does the filing indicate any steps ATIF Holdings is taking to address the delisting issue?
The provided text does not specify any actions ATIF Holdings is taking to rectify the situation leading to the delisting notice.
What other items are included in this 8-K filing besides the delisting notice?
The filing also includes 'Other Events' and 'Financial Statements and Exhibits'.
Filing Stats: 706 words · 3 min read · ~2 pages · Grade level 12.5 · Accepted 2024-12-17 16:05:20
Key Financial Figures
- $0.001 — on which registered Ordinary Shares, $0.001 par value ATIF Nasdaq Capital Marke
- $2,500,000 — y is not in compliance with the minimum $2,500,000 stockholders' equity requirement for co
Filing Documents
- ea022509102-8k_atifhold.htm (8-K) — 27KB
- ea022509102ex99-1_atifhold.htm (EX-99.1) — 7KB
- 0001213900-24-109756.txt ( ) — 208KB
- atif-20241212.xsd (EX-101.SCH) — 3KB
- atif-20241212_lab.xml (EX-101.LAB) — 33KB
- atif-20241212_pre.xml (EX-101.PRE) — 22KB
- ea022509102-8k_atifhold_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 12, 2024, ATIF Holdings Limited (the " Company ") received a notice from The Nasdaq Stock Market LLC (" Nasdaq ") Listing Qualifications Staff (the " Staff ") stating that the Staff has determined, unless the Company timely requests an appeal of the Staff's determination, before Nasdaq's Hearing Panel (the " Panel "), by December 19, 2024, to delist the Company's ordinary shares from the Nasdaq Capital Market because the Company is not in compliance with the minimum $2,500,000 stockholders' equity requirement for continued listing set forth in the Nasdaq Listing Rule 5550(b) as reported in the Company's Annual Report on Form 10-K for the year ended July 31, 2024. The notice has no immediate impact on the Company's listing and trading, as the Company intends to request a hearing before the Panel by December 19, 2024. Such request will stay any suspension or delisting action by Nasdaq pending the completion of the hearing process There can be no assurance that the Panel will grant the Company's request for additional time to demonstrate compliance of continued listing requirement or that the Company will be able meet the continued listing requirement during any compliance period or in the future. If the Panel does not grant the Company's request for additional time, its ordinary shares will be subject to delisting and the liquidity and marketability of the Company's ordinary shares would be adversely affected. This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a delisting notification.
01 Other Events
Item 8.01 Other Events. On December 17, 2024, the Company issued a press release announcing that it will change the ticker symbol of its ordinary shares listed on the Nasdaq Capital Market from "ATIF" to "ZBAI". The change will become effective at the start of trading on December 18, 2024. A copy of the press release is attached to this report as Exhibit 99.1 and incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 ATIF Holdings Limited Press Release, dated December 17, 2024
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 Dated: December 17, 2024