{"id":1272,"date":"2021-10-07T12:00:00","date_gmt":"2021-10-07T12:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3529320_CN29320_0"},"modified":"2021-10-07T12:00:00","modified_gmt":"2021-10-07T12:00:00","slug":"china-finance-online-receives-extension-for-regaining-compliance-with-nasdaq-minimum-stockholders-equity-requirement","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=1272","title":{"rendered":"China Finance Online Receives Extension for Regaining Compliance with Nasdaq Minimum Stockholders’ Equity Requirement"},"content":{"rendered":"
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BEIJING<\/span>, Oct. 7, 2021 \/PRNewswire\/ — China Finance Online Co. Limited (“China Finance Online”, or the “Company”, “we”, “us” or “our”) (Nasdaq CM: JRJC), a leading web-based financial services company that provides Chinese individual investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers, today announced that it has received a notice from the Nasdaq Stock Market LLC (“Nasdaq”) stating that the Nasdaq Hearings Panel (“Panel”) granted the Company’s request to phase down to The Nasdaq Capital Market. The Panel also granted the Company until January 14, 2022<\/span> to evidence compliance with the minimum $2.5 million<\/span> stockholders’ equity requirement, or the alternative compliance standards as set forth in Nasdaq Listing Rule 5550(b)(1).<\/p>\n

As previously announced, the Company was notified in May 2021<\/span> that it was not in compliance with the shareholders’ equity requirement of Listing Rule 5450(b)(1)(A) and received a delisting notice in August 2021<\/span>. The Panel’s decision follows the hearing that took place in September 2021<\/span>, at which time our management presented the Panel with a plan for regaining and sustaining compliance with the minimum stockholders’ equity requirement. This notification has no immediate effect on the Company’s listing or on the trading of the Company’s ADSs.<\/p>\n

About China Finance Online<\/u><\/b><\/p>\n

China Finance Online Co. Limited is a leading web-based financial services company that provides Chinese individual investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers. The Company’s prominent flagship portal site, www.jrj.com<\/a>, is ranked among the top financial websites in China<\/span>. In addition to the web-based securities trading platform, the Company offers basic financial software, information services and securities investment advisory services to retail investors in China<\/span>. Through its subsidiary, Shenzhen Genius Information Technology Co. Ltd., the Company provides financial database and analytics to institutional customers including domestic financial, research, academic and regulatory institutions. China Finance Online also provides brokerage services in Hong Kong<\/span>.<\/p>\n

Safe Harbor Statement<\/u><\/b><\/p>\n

This press release contains forward-looking statements which constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. The statements contained herein reflect management’s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of the Company. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, this release contains the following forward-looking statements regarding:<\/p>\n