According to recent reports, Nasdaq warned Golden Bull Limited not too long ago, saying to them that they are no longer in compliance with the rules needed in order to be listed because of lacking form 6-K.
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In today’s cryptocurrency news, we find out more.
Golden Bull Limited, a firm that works as an online finance marketplace and also as a lending company, was not long ago reached by Nasdaq with a warning. In the announcement of the company, Nasdaq warned them that they failed to provide its Form 6-K financial statements for the period of six months, from June 30th thill January 1st, 2019.
The said lack of the financial statement is a violation of Nasdaq’s listing rules and can cause the removal of Golden Bull Limited from the list of Nasdaq if the company is unsuccessful in the deliver the necessary Form. But Nasdaq will not make an immediate move and gave Golden Bull Limited a deadline of 60-days to make and deliver a plan on fulfilling the listing rules and achieving compliance.
The response of the company to the notification was a claim by them that they have fully intended to fulfill the said task and will deliver the necessary Form before the end of January this year. Golden Bull Limited began its operation as a finance marketplace and a lending firm that made short-term loans to individuals and small companies. The firm gives services to customers in China, and recently publicized that it had the intent to shut down its peer-to-peer lending operations.
From then onwards, the company set its goal of becoming a car rental business and also a Bitcoin (BTC) mining firm. The transition of the company started in March of 2018, after the crush of the cryptocurrency prices after the ATH in December 2017- January 2018. But this is not the first time that Golden Bull Limited was warned by Nasdaq. Before, it was reported that the firm got a notification letter from Nasdaq in September of 2019, due to a certain deficiency in the minimum bid price requirements.
Once more the Bitcoin (BTC) mining firm has certain difficulties with Nasdaq’s listing rules compliance and must work to retain its status of Nasdaq listed enterprise as it will not be unlisted at once.
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