Smart Powerr Receives Notice of Filing Delinquency from Nasdaq
Smart Powerr Corp. announced that it received written notification from Listing Qualifications Department of The Nasdaq Stock Market LLC (the “Nasdaq”) that, as a result of not having timely filed its quarterly report on Form 10-Q for the year ended March 31, 2022 (the “Form 10-Q”), and because the Company remains delinquent in filing its Form 10-K for the fiscal year ended December 31, 2021 (the “Initial Delinquency Filing”), the Company does not comply with the Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the U.S. Securities and Exchange Commission (the “SEC”). Under the Nasdaq Listing Rule 5810(c)(2)(F)(i), the Company is required to submit its plan to regain compliance (the “Compliance Plan”) no later than June 20, 2022. If the plan is accepted by Nasdaq, CREG can be granted up to 180 calendar days from the Initial Delinquency Filing’s due date or until October 17, 2022, to regain compliance. The notification has no immediate impact on the listing of the Company’s shares of common stock on the Nasdaq Capital Market. As previously disclosed by CREG in its Form 8-K filed with the SEC on April 15, 2022, the Company was unable to file its Form 10-K by its original deadline due to undue burden and hardship caused by the impact of COVID-19 in the PRC. The Company intends to submit the Compliance Plan as soon as practicable but no later than June 20, 2022. This announcement is made in compliance with the Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a notification of deficiency.