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Fresh2 Group (NASDAQ: FRES) has received an additional delinquency compliance alert notice from Nasdaq on August 19, 2024. The notice states that the company has not filed its Form 10-Q for the period ended June 30, 2024, violating Listing Rule 5250(c)(1). This follows previous extensions granted by Nasdaq for filing delinquent Form 10-K and Form 10-Q. Fresh2 now has until October 14, 2024, to regain compliance with all delinquent filings. The company must submit an updated plan to Nasdaq by September 3, 2024, detailing its strategy to file the latest Form 10-Q and progress on previous filings. Fresh2 affirms its commitment to addressing these issues and regaining compliance with Nasdaq listing rules.
Fresh2 Group (NASDAQ: FRES), a B2B e-commerce and supply chain management company in the restaurant and food industry, has announced a significant expansion of its video e-commerce business. The company has partnered with over 50 influencers, leading to rapid sales growth and increased market presence in the e-commerce sector.
Fresh2's video e-commerce strategy leverages multimedia formats to enhance product appeal and build consumer trust through real-time interaction. The company's product range currently includes food, daily necessities, and electronics. Fresh2 plans to further expand its influencer collaborations and diversify its product offerings to explore new market opportunities.
Fresh2 Group (NASDAQ: FRES), a B2B e-commerce and supply chain management company in the restaurant and food industry, announced a 1-for-10 reverse ADS split for its American depositary shares (ADSs). Effective July 10, 2024, the ADS-to-Class A share ratio changes from 1:20 to 1:200, equivalent to a one-for-ten reverse ADS split. Holders of certificated ADSs must surrender their certificates to Citibank for new ADSs, while those with uncertificated ADSs will automatically have their shares exchanged. Post-split, Fresh2's ADSs will continue trading under the ticker 'FRES.' No fractional ADSs will be issued; instead, fractional entitlements will be sold, and proceeds distributed to holders. The ADS price is expected to rise proportionally, though no guarantees are made.
Fresh2 Group (NASDAQ: FRES), a B2B e-commerce and supply chain management company in the restaurant and food industry, announced plans to change the ratio of its American depositary shares (ADSs) to its Class A ordinary shares. Effective July 10, 2024, the new ratio will be one ADS representing 200 Class A shares, compared to the previous one ADS for 20 Class A shares. This change equates to a one-for-ten reverse ADS split. ADS holders will automatically receive one new ADS for every ten existing ADSs. The trading symbol 'FRES' will remain unchanged. No fractional ADSs will be issued; instead, cash proceeds from the sale of fractional entitlements will be distributed to ADS holders. The ADS price is expected to increase proportionally following the ratio change.
Fresh2 Group (NASDAQ: FRES), a B2B e-commerce and supply chain management company in the restaurant and food industry, announced on May 23, 2024, that it received a delinquency compliance alert from Nasdaq. The alert is due to the company's failure to timely file its Form 10-Q for the period ended March 31, 2024, and its Form 10-K for the fiscal year ended December 31, 2023, with the SEC. Nasdaq has given Fresh2 60 days to submit a compliance plan, with a deadline of June 17, 2024, for the company to outline how it will meet the requirements. If the plan is accepted, Fresh2 may receive an extension until October 14, 2024. If not, the company can appeal this decision to a Hearings Panel.
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