Let's say that FUQI files at 5:00 PM on Monday March 28th after market close. Would they still be complient ? The deadline is 5:30 PM EST in order to not automatically be pushed into the next day of March 29th.
If FUQI does not file : will their first day on the pink sheets be March 28th or Tuesday March 29th ?
A lot will happen on their last day at Nasdaq so I want to know for sure.
Please answer only if you know for sure how this works. Don't just take a quess. Thanks.
Should be neither. If it's handled like TXIC(and there's no reason to think it won't be),FUQI will receive written notice on the 29th that they are not in compliance with NASDAQ rules,and they are formally being delisted within 2 business days. In other words,the 1st day on the pinks should be Thursday Mar 31. That said,the reaction in the stock will be on the 29th,when they receive formal notice(perhaps after hours on the 28th if they still haven't filed?) The bottom line is,there's no reason to think FUQI will ever be halted during the process(TXIC wasn't).
I would say delisting the earliest would be march 29th...but i think they would receive a delisting notice on the 29th saying that they are no longer in compliant and effective the 30th or a few days later they will be delisted. Anyways, thats my take on it.