China Green Agriculture, Inc. Inc. announced that, as a result of its failure to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2022 (the “2022 Form 10-K”) in a timely fashion, it has received a notice from the New York Stock Exchange (the “NYSE”) that the Company was not in compliance with the NYSE’s continued listing requirements under the timely filing criteria established in Section 802.01E of the NYSE Listed Company Manual.
As reported by the Company in its Form 12b-25 filed with the Securities and Exchange Commission (the “SEC”) on September 30, 2022, the Company was unable to file its 2022 Form 10-K within the prescribed time period without unreasonable effort or expense. The extension period provided under Rule 12b-25 expired on October 13, 2022. The Company is unable to meet the filing deadline for its 2022 Form 10-K due to circumstances and impacts related to COVID-19. As a result, the Company’s accounting team was unable to complete its 2022 Form 10-K until after October 20, 2022. The Company is currently working closely with its principal accounting firm to complete the filing of its 2022 Form 10-K as soon as reasonably practicable.
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The NYSE has informed the Company that, under the NYSE’s rules, the Company will have six months from the filing due date to file its 2022 Form 10-K with the SEC. The Company can regain compliance with the NYSE listing standards during this six-month period when the Company files its 2022 Form 10-K with the SEC. During the six-month period, the NYSE will closely monitor the status of the Company’s late filing and related public disclosures. If the Company fails to file its 2022 Form 10-K within such six-month period, the NYSE may, in its sole discretion, allow the Company’s common stock to trade for up to an additional six months depending on specific circumstances, as outlined in the rule. If the NYSE determines that an additional six-month trading period is not appropriate, suspension and delisting procedures will commence pursuant to Section 804.00 of the Listed Company Manual. If the NYSE determines that an additional trading period of up to six months is appropriate and the Company fails to file its 2022 Form 10-K and any subsequent delayed filings by the end of that period, suspension and delisting procedures will generally commence. Regardless of the procedures described above, the NYSE may commence delisting proceedings at any time during the period that is available to complete the filing, if circumstances warrant.
Until the Company files its 2022 Form 10-K, the Company’s common stock will remain listed on the NYSE under the symbol “CGA,” and will be assigned a “LF” indicator to signify late filing status.
As noted above, the Company is working diligently to complete its 2022 Form 10-K. The Company intends to file it as soon as practicable to regain compliance with the NYSE continued listing standards.