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SINO > SEC Filings for SINO > Form 8-K on 23-Nov-2012All Recent SEC Filings




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 November 21, 2012, Sino-Global Shipping America, Ltd. (the "Company") received from the Nasdaq OMX Group ("Nasdaq") a letter (the "Nasdaq Letter") indicating that it is not in compliance with Nasdaq Marketplace Rule 5550(b)(1), which requires companies listed on the Nasdaq Capital Market to maintain a minimum of $2,500,000 in stockholders' equity for continued listing. On its quarterly report for the period ended September 30, 2012, the Company reported stockholders' equity of $2,098,807 and, as a result, does not currently satisfy Nasdaq Marketplace Rule 5550(b)(1).

Nasdaq's letter advises the Company that the Company will have 45 calendar days from November 21, 2012 to submit a plan to regain compliance. If the plan is accepted, the Company can be granted up to 180 calendar days from November 21, 2012 to evidence compliance. There can be no guarantee that the Company will be able to regain compliance with the continued listing requirement of Nasdaq Marketplace Rule 5550(b)(1) or that its plan will be accepted by Nasdaq.

The Company is currently evaluating its available options to resolve the deficiency and regain compliance with the Nasdaq minimum stockholder equity requirement.

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Sino-Global Shipping America, Ltd.

By: /s/ Cao Lei
Cao Lei
Chief Executive Officer

Dated: November 23, 2012

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