WUHAN CITY, China, Nov. 27,
2018 /PRNewswire/ -- Renmin Tianli Group, Inc. (NASDAQ:ABAC)
("Renmin Tianli" or the "Company"), a producer of breeder hogs,
market hogs and black hogs, as well as specialty processed black
hog pork products sold through retail outlets and the internet,
with headquarters in Wuhan City,
Hubei Province, China, today announced that on November 21, 2018 the Company received a
notification letter from the Nasdaq Stock Market ("Nasdaq") stating
that, because the Company has not yet filed its Quarterly Report on
Form 10-Q for the quarter ended September
30, 2018 (the "Form 10-Q"), the Company is no
longer in compliance with Nasdaq Listing Rule 5250(c)(1). Nasdaq
Listing Rule 5250(c)(1) requires listed companies to timely file
all required periodic financial reports with the Securities and
Exchange Commission ("SEC"). The Nasdaq letter has no immediate
effect on the listing of the Company's shares.
Nasdaq's notification letter states that the Company has 60
calendar days to submit to Nasdaq a plan to regain compliance with
the Nasdaq Listing Rules. If Nasdaq accepts the Company's plan,
then Nasdaq may grant the Company up to 180 days from the
prescribed due date for filing the Form 10-Q to regain compliance.
If Nasdaq does not accept the Company's plan, then the Company will
have the opportunity to appeal that decision to a Nasdaq hearings
panel.
The Company intends to resolve the deficiency and regain
compliance with the Nasdaq Listing Rules.
About Renmin Tianli Group, Inc.
Renmin Tianli Group, Inc. (the "Company"), is in the business of
breeding, raising and selling breeder and market hogs in
China. The Company also sells
specialty processed black hog pork products through supermarkets
and other retail outlets, as well as the internet.
Forward-Looking Statements
This news release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product
demand and acceptance, changes in technology, economic conditions,
the impact of competition and pricing, government regulations, and
other risks contained in reports filed by the company with the
Securities and Exchange Commission. All such forward-looking
statements, whether written or oral, and whether made by or on
behalf of the Company, are expressly qualified by this cautionary
statement and any other cautionary statements which may accompany
the forward-looking statements. In addition, the Company disclaims
any obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof.
For more information, please contact:
Tony Tian, CFA
Weitian Group LLC
Phone: +1-732-910-9692
Email: ttian@weitianco.com
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SOURCE Renmin Tianli Group, Inc.
