Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On October 14, 2020, China Green Agriculture, Inc. (the "Company") received a
notice from the New York Stock Exchange (the "NYSE") indicating that the Company
is not in compliance with the NYSE's continued listing requirements under the
timely filing criteria established in Section 802.01E of the NYSE Listed Company
Manual as a result of its failure to timely file its Annual Report on Form 10-K
for the fiscal year ended June 30, 2020 (the "2020 Form 10-K").
As reported by the Company in its Form 12b-25 filed with the Securities and
Exchange Commission (the "SEC") on September 30, 2020, the Company was unable to
file the 2020 Form 10-K within the prescribed time period without unreasonable
effort or expense. The extension period provided under Rule 12b-25 expired on
October 13, 2020. The Company is unable to meet the filing deadline for the
filing of its 2020 Form 10-K due to circumstances related to COVID-19. The
primary operations and businesses of the Company are conducted in China, where
the outbreak of COVID-19 pandemic occurred. During the year of 2020, The
Company's facilities had been under quarantine control and many employees had
been in mandatory quarantine. In addition, many travels had been severely
restricted from time to time. Thus, the Company's operations had been impacted
in 2020. As a result, the Company's accounting team was unable to complete its
2020 Form 10-K until after October 20, 2020. The Company is currently working
closely with its principal accounting firm to complete the filing of its 2020
Form 10-K as soon as reasonably practicable.
The NYSE has informed the Company that, under the NYSE's rules, the Company will
have six months from the filing due date to file its 2020 Form 10-K. The Company
can regain compliance with the NYSE listing standards during this six-month
period when the Company files its 2020 Form 10-K with the SEC. If the Company
fails to file its 2020 Form 10-K within such six-month period, the NYSE may, in
its sole discretion, allow the Company's common stock to trade for up to an
additional six months depending on specific circumstances. Until the Company
files its 2020 Form 10-K, the Company's common stock will remain listed on the
NYSE under the symbol "CGA" and will be assigned a "LF" indicator to signify
late filing status.
As noted above, the Company is working diligently to complete its 2020 Form 10-K
to regain compliance with the NYSE continued listing standards.
Item 8.01 Other Events.
In accordance with the NYSE's procedures, the Company issued a press release
announcing the receipt of the NYSE letter dated October 14, 2020. Attached as
Exhibit 99.1 hereto, and incorporated herein by reference, is a copy of the
Company's press release dated October 20, 2020, announcing the receipt of the
Item 9.01. Financial Statements and Exhibits.
EXHIBIT NO. DESCRIPTION
99.1 Press Release dated October 20, 2020.
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