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New York, New York, May 28, 2021 (Global News Agency)-Tuscan Holding Company (NASDAQ:THCB) (“Tuscany” or “Company”), A blank cheque company established for mergers, share exchanges, asset acquisitions, share purchases, reorganizations or similar business mergers with one or more companies or entities, announced that it had received a letter from a listed company on May 28, 2021. The Daq Stock Market (“Nasdaq”) qualification department stated that the company did not submit its quarterly report on Form 10-Q (“Form 10-Q”) for the fiscal quarter ending March 31, 2021 in a timely manner. Comply with Nasdaq Listing Rules 5250(c)(1) (the “Rules”). Nasdaq has notified the company that it must submit a re-compliance plan by July 26, 2021, provided that if the 10-Q form is submitted before that date, the company will not need to submit a plan. If Nasdaq approves the company’s plan, it may at its discretion grant the company an extension of up to 180 calendar days from the expiry date of Form 10-Q (or until November 22, 2021) to regain compliance.
The company expects to submit Form 10-Q before the 60-day deadline to re-compliance with Nasdaq’s continuing listing requirements. If the company cannot submit Form 10-Q by July 26, 2021, it intends to submit a plan to re-compliance with Nasdaq. However, there is no guarantee that the company will be able to meet the above listing requirements again or otherwise meet other NASDAQ listing standards. The notice has no direct impact on the company’s securities listing on NASDAQ.
Forward-looking statements
This press release includes certain “forward-looking” statements because the term is defined under the federal securities laws. These statements are usually (but not always) through the use of terms such as “may”, “will”, “expected”, “estimated”, “planned”, “project”, “continued”, “ongoing,” “expected”, “Believe,” “intend,” “forecast,” “potential,” “opportunity,” and similar words or phrases or the negatives of these words or phrases. These forward-looking statements are based on the company’s current assumptions, expectations, and beliefs, and are subject to Significant risks, estimates, assumptions, uncertainties and the impact of environmental changes may cause actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statements, including those filed as of March 31, 2021 The timing of the quarterly report on Form 10-Q for the fiscal quarter and the submission of the required periodic reports to the Securities and Exchange Commission. In addition, please refer to the risk factors contained in the company’s documents submitted to the US Securities and Exchange Commission. Due to the above risks, estimates, and assumptions And uncertainty may cause actual results or results to be materially different from those expressed in any forward-looking statement, so you should not place undue reliance on any forward-looking statement. Any forward-looking statement is only effective as of the date of this agreement. Except as required by law, the company assumes no obligations and does not intend to update any forward-looking statements to reflect events or circumstances after the date of this agreement.
Company contacts:
Steven Vogel
Chief Executive Officer
Tuscany Holding Company
135 East 57th Street, 18th Floor
New York, New York 10022
(646) 948-7099
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