공시 • Dec 15
iFresh, Inc Elects Wenbin Mu to Be Co-CEO On December 7, 2022, the board of director of iFresh Inc. elected Mr. Wenbin Mu to be a co-CEO of the Company. The current CEO Ms. Ping Zhou will continue to be a co-CEO of the Company. Mr. Mu continues to be a director of the Company. 공시 • Oct 18
iFresh Inc. Appoints Ms. Min Xu to the Board of Directors On October 11, 2022, Ms. Min Xu was unanimously elected to the board of directors (the “Board”) of iFresh Inc. (the “Company” or the “Registrant) to fill the vacancy on the Board resulting from the resignation of Mr. Qiang Ou. There are no family relationships between Ms. Min Xu and any director or other executive officer of the Company. Ms. Min Xu has been employed by Wuhan Pingdaochuan Certified Public Accountants Partnership (General Partnership) in Wuhan, China as an auditor since January 2021. She worked as a Transaction Accountant/Cost Supervisor at Wuhan Yusheng Optical Devices Co. Ltd., an optical device manufacturer, from February 2016 to January 2021. She worked as a Cashier/General Ledger Accountant at Jiangsu Zhongji Pile Industry Co. Ltd., a construction/piling company, from March 2013 to February 2016. Ms. Xu has a bachelor’s degree in accounting and a bachelor’s degree in accounting computerization from the China University of Geosciences. 공시 • Oct 08
Qiang Ou Resigns as Director of iFresh Inc On October 5, 2022, Mr. Qiang Ou resigned as a director of iFresh Inc. Mr. Ou’s decision did not result from any disagreement with the Company relating to its operations, policies or practice. 공시 • Aug 10
iFresh Inc. Announces Board Changes On August 5, 2022, Mr. Harvey Leibowitz resigned as a director of iFresh Inc. (the “Company”). Mr. Leibowitz’s decision did not result from any disagreement with the Company relating to its operations, policies or practice. On August 8, 2022, Ms. Man Yee Chan was elected to the Company’s board of director (the “Board”) by all members of the Board then in office to fill the vacancy on the Board resulting from the resignation of Mr. Leibowitz.There are no family relationships between Ms. Man Yee Chan and any director or other executive officer of the Company. Ms. Man Yee Chan has been employed by Prudential Hong Kong Limited as a business manager since June 2015. She worked at K.Y.Yu & Co as an accountant from August 1995 to May 2015. Ms. Chan has an accounting degree from Tuo Bin Occupational School in China. 공시 • Jun 11
Securities and Exchange Commission Files Civil Lawsuit Alleging Civil Violations of the Federal Securities Laws Against iFresh, Inc On May 31, 2022, the Securities and Exchange Commission (Commission) filed a civil lawsuit alleging civil violations of the federal securities laws against iFresh Inc. (“iFresh” or the “Company”) and Long Deng, the company’s Chief Executive Officer throughout the period at issue in the Complaint, for not fully disclosing related party transactions, which, the Commission alleged made certain of the Company’s financial statements materially inaccurate. Mr. Deng, through one of his attorneys, Jacob Frenkel, Chair of the Securities Enforcement and Government Investigations Practice at national law firm, Dickinson Wright, PLLC, responds to the allegations. The team of lawyers leading the representation of Mr. Deng are Mr. Frenkel and Mr. Ni. Mr. Frenkel, practicing law in the securities enforcement space for more than 34 years, served for 9½ years as an attorney in the SEC’s Division of Enforcement and as a federal criminal prosecutor of public corruption and securities for 3½ years, and has been representing companies and individuals defending SEC, as well as PCAOB and FINRA, investigations and litigation for more than 20 years. Mr. Ni is an experienced and accomplished litigator with expertise and outstanding success in complex commercial and securities litigation. 공시 • Jan 22
Nasdaq Stock Market to Delist iFresh Common Stock On January 20, 2022, iFresh Inc. was notified by The Nasdaq Stock Market (“Nasdaq”) that it will delist the common stock of the Company. The trading of the Registrant’s common stock was suspended on November 23, 2021 based on two continued listing deficiencies. Nasdaq plans to file a Form 25 with the SEC to effect the formal delisting of the Company’s common stock from Nasdaq and will issue a press release to that effect. The delisting of the Company’s common stock will become effective ten days after the Form 25 is filed with the SEC. The filing of the Form 25 by Nasdaq formally completes the Company’s common stock delisting process. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 34% share price gain to US$1.18, the stock trades at a trailing P/E ratio of 57.2x. Average trailing P/E is 22x in the Consumer Retailing industry in the US. Total loss to shareholders of 3.8% over the past three years. 공시 • Oct 01
iFresh Receives Nasdaq Listing Determination iFresh Inc. announced that on September 22, 2021, Nasdaq notified iFresh that due to the Company’s continued non-compliance with Nasdaq’s annual meeting and filing requirements, as set forth in Nasdaq Listing Rules 5620(a) and 5250(c)(1), respectively, the Company’s securities were subject to delisting unless the Company timely requests a hearing before a Nasdaq Hearings Panel (the “Panel”). The Company plans to timely request a hearing before the Panel, which request will automatically stay any further suspension or delisting action by Nasdaq through October 7, 2021. Concurrent with the hearing request and as allowed by the Nasdaq Listing Rules, the Company will also request a further stay of Nasdaq’s determination; that is, beyond October 7, 2021 and pending the ultimate conclusion of the hearing process. At the hearing, the Company will present its plan to evidence compliance with the listing rules and request an extension within which to do so. The Panel has the discretion to grant the Company an extension through March 28, 2022 to hold an annual meeting and through July 11, 2022 to file its periodic reports. As previously disclosed, the Company was unable to timely file the Form 10-K for the fiscal year ended March 31, 2021 and Form 10-Q for the quarter ended June 30, 2021 with the SEC due to the pending restatement of certain of its previously filed financial statements, which process must conclude before the Company will be in a position to file any subsequent periodic reports with the SEC or a proxy statement for the annual meeting. The Company is taking definitive steps to evidence compliance with the listing rules as soon as practicable; however, there can be no assurance that the Panel will grant the Company’s request for continued listing or that the Company will be able to evidence compliance within the period of time that may be granted to the Company by the Panel. 공시 • Jul 23
iFresh Receives Non-Compliance Notice from Nasdaq On July 15, 2021, the iFresh Inc. received a notification letter (the "Notice") from The Nasdaq Stock Market ("Nasdaq") advising the company that, because the company has not filed its Form 10-K for the year ended March 31, 2021 (the "Form 10-K"), it no longer complies with Nasdaq's Listing Rules for continued listing. Nasdaq Listing Rule 5250(c)(1) (the "Rule") requires a company to timely file all required periodic financial reports with the U.S. Securities and Exchange Commission (the "Commission") through the EDGAR system (the "Filing Requirement"). The company may submit a plan to return to compliance with the Rule. The Notice states that, if Nasdaq accepts the company's compliance plan, it may be eligible for additional time of up to 180 calendar days from the due date of the Form 10-K, or until January 10, 2022, to regain compliance with the Filing Requirement. The company intends to provide a plan to return to compliance with the Rule to Nasdaq. If the compliance plan is not accepted, Nasdaq will provide written notification to the company that its common stock is subject to delisting. Similarly, if the plan is accepted, but the Company fails to regain compliance by the end of the plan period, the Company would receive a delisting notice. Following receipt of a delisting notice, the company may request a hearing before a Nasdaq Listing Qualifications Panel (the "Panel"). The request for a hearing, which must be granted, will initially stay any suspension or delisting action, and the Company may request that the stay be extended through the hearing and the expiration of any additional extension period granted by the Panel following the hearing. The granting of an extended stay is at the Panel's discretion. 공시 • Jul 02
iFresh Inc. announced delayed annual 10-K filing On 06/30/2021, iFresh Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. 공시 • Feb 12
iFresh Inc. announced delayed 10-Q filing On 02/11/2021, iFresh Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Is New 90 Day High Low • Feb 12
New 90-day high: US$3.30 The company is up 347% from its price of US$0.74 on 13 November 2020. The American market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is down 1.0% over the same period. 공시 • Nov 13
iFresh Inc. announced delayed 10-Q filing On 11/12/2020, iFresh Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공시 • Aug 19
iFresh Inc. (NasdaqCM:IFMK) completed the acquisition of 70% stake in Xiamen DL Medical Technology from Guo Hui Ji. iFresh Inc. (NasdaqCM:IFMK) entered into a purchase agreement to acquire 70% stake in Xiamen DL Medical Technology from Guo Hui Ji for $1.7 million on March 17, 2020. Pursuant to the terms of the agreement, iFresh shall pay $0.6 million cash and issue 0.9 million shares of its common stock. The closing of the acquisition is subject to customary terms and conditions.
iFresh Inc. (NasdaqCM:IFMK) completed the acquisition of 70% stake in Xiamen DL Medical Technology from Guo Hui Ji on April 28, 2020. 공시 • Aug 14
iFresh Inc. announced delayed 10-Q filing On 08/13/2020, iFresh Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공시 • Jul 31
iFresh Inc. (NasdaqCM:IFMK) completed the acquisition of Hubei Rongentang Herbal Wine Co., Ltd. and Hubei Rongentang Wine Co., Ltd. from Kairui Tong and Hao Huang. iFresh Inc. (NasdaqCM:IFMK) entered into an agreement to acquire Hubei Rongentang Herbal Wine Co., Ltd. and Hubei Rongentang Wine Co., Ltd. from Kairui Tong and Hao Huang for $11.2 million on March 26, 2020. iFresh Inc. will issue 3.9 million shares and 1000 Series B Preferred Stock. Upon approval of the iFresh, Inc.'s shareholders, the 1000 shares of series B preferred stock will be converted into 3.83 million shares of IFresh common stock. The closing of the acquisition as contemplated by the Acquisition Agreement is subject to customary closing terms and conditions.
iFresh Inc. (NasdaqCM:IFMK) completed the acquisition of Hubei Rongentang Herbal Wine Co., Ltd. and Hubei Rongentang Wine Co., Ltd. from Kairui Tong and Hao Huang on April 22, 2020.