We have less days than most believe to get to $1+. We have to hit $1 on July 22nd or earlier and the PPS has to stay above until the Aug 5th deadline.
"To regain compliance, the bid price for the Company's common stock must close at $1.00 or higher for a minimum of 10 consecutive business days within the stated 180-day grace period. "
Not looking good. (BUT...)
"Under Listing Rule 5450(a)(1), if the company has not regained compliance, by the close of the initial 180-day grace period, it may be eligible for an additional grace period of 180 days, if it meets the initial listing standards, with the exception of bid price, for the NASDAQ Capital Market. If the company is not eligible for an additional grace period, it will receive notification that its securities are subject to delisting, and it may then appeal the delisting determination to a Hearings panel. "
Assuming it takes two weeks for them to close June accounts, then they could give Q2 guidance already by mid-July which might just be enough time to push the share price up over $1. They wouldn't even need to wait that long to give some general guidance about sales of the black hogs, for example they could announce that it's in XX stores in Beijing and YY stores in Wuhan.
Afterall, this should be a solid quarter for them because their feed mill should be operational and generating revenues in addition to the spool up of the black hogs program.
I'm done writing the US PR people as they are unresponsive. Even if they can't tell you something because of proprietary reasons they can thank you for your email and give some type of explanation. I'm going to write to the China office directly and complain about this new non-PR company. I encourage all of u to do the same.
This is not a major issue. They can simply get an extension. There will be more clarity after the Q-report or perhaps advance notice if there is a positive outlook. The daily short volume indicates that there is not much selling. Whenever there is buying interest the market makers short to maintain low price.