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CREG > SEC Filings for CREG > Form 8-K on 28-Nov-2012All Recent SEC Filings

Show all filings for CHINA RECYCLING ENERGY CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for CHINA RECYCLING ENERGY CORP


28-Nov-2012

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or


Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On November 21, 2012, China Recycling Energy Corporation (the "Company") received written notice from the NASDAQ Stock Market ("NASDAQ") stating that the Company is not in compliance with the $1.00 minimum bid price requirement for continued listing on the NASDAQ Global Market, as set forth in NASDAQ Listing Rule 5450(a)(1). The notice has no immediate effect on the listing of the Company's common stock, and its common stock will continue to trade on the NASDAQ Global Market under the symbol "CREG" at this time. In accordance with NASDAQ Listing Rule 5810(c)(3)(A), the Company has a grace period of 180 calendar days, or until May 20, 2013, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for at least ten consecutive business days during this 180-day grace period.

If the Company does not regain compliance with the minimum bid price requirement by May 20, 2013, NASDAQ may provide written notification to the Company that its securities will be subject to delisting. At that time, the Company may have alternatives to obtain an extension and/or avoid a delisting, including an appeal of NASDAQ's delisting determination to the NASDAQ Listing Qualifications Panel, or, alternatively, an additional grace period of 180 days in connection with a listing transfer to the NASDAQ Capital Market.

The Company intends to monitor the bid price for its common stock between now and May 20, 2013 and will consider the various available options available to the Company if its common stock does not trade at a level that is likely to regain compliance.

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