Fellazo Inc. Receives Notice from Nasdaq
18 Dicembre 2019 - 10:45PM
Fellazo Inc. (the “Company”) announced today that, on December 13,
2019, the Company received a notice from the Listing Qualification
Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”)
stating that, based upon its review of the Company’s filings with
the Securities and Exchange Commission (“SEC”) and the materials
submitted by the Company to Nasdaq, the Staff had determined to (i)
deny the Company’s extension request through May 18, 2020 to
evidence compliance with Nasdaq Listing Rule 5250(c)(1) due to the
Company’s failure to timely file its Quarterly Report on Form 10-Q
for the fiscal quarter ended September 30, 2019 (“Form 10-Q”), and
(ii) delist the Company’s securities from Nasdaq for its failure to
(a) timely file its Form 10-Q as required by Nasdaq Listing Rule
5250(c)(1) and (b) disclose certain information as required by
Listing Rule 5250(b)(1), concerning certain unauthorized related
party transactions as described in the Company’s Current Report on
Form 8-K filed with the SEC on December 18, 2019, none of which
transactions involved the funds the Company deposited in its trust
account. Therefore, the Company’s securities may be delisted from
Nasdaq and the trading of the Company’s securities may be suspended
at the opening of business on December 23, 2019 unless the Company
timely requests a hearing before a Nasdaq Hearings Panel (“Panel”).
If the trading of the Company’s securities is suspended, the
Company’s securities will cease to be quoted on Nasdaq and may be
traded on the over the counter market.
The Company intends to appeal Staff’s
determination. The request for a hearing will automatically stay
the suspension and delisting of the Company’s securities through
January 6, 2020. In connection with the request for a hearing, the
Company also intends to request a stay of the suspension of trading
and delisting of the Company’s securities pending the completion of
the hearing process and the expiration of any additional extension
period granted by the Panel following the hearing. However, there
can be no assurance that such a stay will be granted or that the
Company will be able to regain compliance with all applicable
requirements for continued listing.
About Fellazo Inc.
Fellazo Inc. is a newly incorporated blank check
company incorporated as a Cayman Islands exempted company and
incorporated for the purpose of effecting a merger, share exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. Although we are
not limited to a particular industry or geographic region for
purposes of consummating an initial business combination, we intend
to focus on businesses in the health food and supplement sector
that have their primary operations in Asia.
Forward-Looking Statements
Statements contained in this press release that
are not historical fact may be forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements may relate to, among other things, the
Company’s ability to regain and maintain compliance with Nasdaq
continued listing requirements. Such forward-looking statements do
not constitute guarantees of future performance and are subject to
a variety of risks and uncertainties. Additional factors that could
cause actual results to differ materially from those projected or
suggested in any forward-looking statements are contained in the
Company’s filings with the SEC, including those factors
discussed under the caption "Risk Factors" in such filings. Copies
of such filings are available on the SEC's website,. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact
Nicholas WongChief Executive OfficerFellazo
Inc.nicholas.wong@fellazo-inc.com
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