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Sharing Economy International Receives Nasdaq Notice of Non-compliance, Will Submit Compliance Plan and Request Extension

Sharing Economy Intl, Inc (SEII)  More Company Research Source: PR Newswire
PDF HONG KONG, Oct. 12, 2018 /PRNewswire/ -- Sharing Economy International Inc. ("SEII" or "the Company") (NASDAQ: SEII) today announced that on October 8, 2018, the Company received a staff deficiency notice from The Nasdaq Stock Market ("Nasdaq") informing the Company that it has failed to comply with Nasdaq's shareholder approval requirements set forth in Listing Rule 5635(c) (the "Rule"). During the period from May 11, 2017 to date, the Company entered into approximately one hundred arrangements resulting in the issuance or potential issuance of more than three million shares to officers, directors, employees, and consultants ("Equity Compensation Grants"). The Company did not receive shareholder approval for the Equity Compensation Grants, and the shares were not issued from a shareholder approval equity compensation plan. The Company is continuing to review its internal records relating to prior issuances, and as information becomes available regarding any shares issued in similar c [Read more]

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