Caravelle International Group Announces Receipt of Nasdaq Deficiency Notice
Caravelle International Group Announces Receipt of Nasdaq Deficiency Notice
SINGAPORE, March 29, 2024 /PRNewswire/ -- Caravelle International Group (Nasdaq: CACO), a global ocean technology company, today announced that it received a notice from The Nasdaq Stock Market LLC (Nasdaq) indicating that, as a result of not having timely filed its Annual Report on Form 20-F for the fiscal year ended Oct 31, 2023, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission.
新加坡，2024年3月29日 /PRNewswire/ — 全球海洋科技公司卡拉維爾國際集團（納斯達克股票代碼：CACO）今天宣佈，它收到了納斯達克股票市場有限責任公司（納斯達克）的通知，該通知表明，由於沒有及時提交截至2023年10月31日財年的20-F表年度報告，該公司不遵守納斯達克上市規則5250（c）（1），這要求及時向證券交易委員會提交所有必要的定期財務報告。
The Notice has no immediate impact on the listing of the Company's securities, which will continue to trade on Nasdaq, subject to the Company's compliance with the other continued listing requirements of Nasdaq. Under the Nasdaq Listing Rules, the Company has 60 calendar days from the date of the Notice to submit a plan of compliance to Nasdaq. If Nasdaq accepts the plan, they can grant the Company an exception of up to 180 calendar days from the original due date of the Form 20-F, or until Sept. 10, 2024, to regain compliance. However, there can be no assurance that Nasdaq will accept the Company's plan to regain compliance or that the Company will be able to regain compliance within any extension period granted by Nasdaq. If the Company fails to timely regain compliance with the Nasdaq Listing Rules, the securities of the Company will be subject to delisting from Nasdaq. The Company intends to file the Annual Report as soon as practicable.
該通知對公司證券的上市沒有直接影響，該公司將繼續在納斯達克交易，但前提是公司遵守納斯達克的其他持續上市要求。根據納斯達克上市規則，自通知發佈之日起，公司有60個日曆日向納斯達克提交合規計劃。如果納斯達克接受該計劃，他們可以批准公司自20-F表格的初始到期日起最多180個日曆日的例外情況，或者直到2024年9月10日，以恢復合規。但是，無法保證納斯達克會接受公司恢復合規的計劃，也無法保證公司能夠在納斯達克批准的任何延期內恢復合規。如果公司未能及時恢復對《納斯達克上市規則》的遵守，則該公司的證券將被從納斯達克退市。公司打算儘快提交年度報告。
Caravelle International Group is fully committed to satisfying all of NASDAQ's listing requirements. The company has implemented a comprehensive plan to enhance its internal reporting processes and is working closely with its auditors and legal advisors to ensure the timely and accurate submission of all necessary documents.
卡拉維爾國際集團完全致力於滿足納斯達克的所有上市要求。該公司已實施一項綜合計劃，以加強其內部報告流程，並正在與核數師和法律顧問密切合作，以確保及時準確地提交所有必要文件。
About Caravelle International Group
關於卡拉維爾國際集團
Caravelle is a global ocean technology company. Its business comprises of two sectors: the traditional business in international shipping, operated by the Topsheen Companies (Topsheen Shipping Group Corporation (Samoa) and its subsidiaries) and the new CO-Tech business under Singapore Garden Technology Pte. Ltd.. As the traditional business, Caravelle's international shipping business has generated all revenues. The CO-Tech business is a new development building upon the existing shipping business. It enables wood desiccation during the maritime shipping process, with full utilization of the shipping time, space, and the waste heat of exhaust gas from the shipping vessels. Caravelle's CO-Tech industry has no historical operations and has not generated revenue. Caravelle is headquartered in Singapore.
卡拉維爾是一家全球海洋技術公司。其業務包括兩個領域：由Topsheen公司（Topsheen航運集團公司（薩摩亞）及其子公司）運營的傳統國際航運業務，以及新加坡花園科技私人有限公司旗下的新Co-Tech業務。有限公司。作爲傳統業務，Caravelle的國際航運業務創造了所有收入。Co-tech業務是在現有航運業務基礎上的一項新發展。它可以在海運過程中對木材進行乾燥，充分利用運輸時間、空間和船舶廢氣的餘熱。Caravelle的聯合技術行業沒有歷史運營，也沒有創造收入。Caravelle 總部位於新加坡。
Forward Looking Statements
前瞻性陳述
This announcement contains "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. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Such statements include, but are not limited to risks detailed in the Company's filings with the U.S. Securities and Exchange Commission. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All information provided in this press release is as of the date of the publication, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
本公告包含1933年《證券法》第27A條和1934年《證券交易法》第21E條所指的 “前瞻性” 陳述。這些聲明是根據1995年《美國私人證券訴訟改革法》的 “安全港” 條款作出的。除歷史事實陳述外，所有陳述，包括但不限於與本文規定的公司目標、計劃和戰略有關的陳述，以及前面或包含 “相信”、“期望”、“預測”、“未來”、“將”、“打算”、“計劃”、“估計” 或類似表述的陳述，均爲 “前瞻性陳述”。此類聲明包括但不限於公司向美國證券交易委員會提交的文件中詳述的風險。這些前瞻性陳述涉及許多風險和不確定性，這可能導致公司的未來業績與預期存在重大差異。如果其中一項或多項風險或不確定性成爲現實，或者基本假設被證明不正確，則實際結果可能與此類前瞻性陳述所示或預期的結果存在重大差異。本新聞稿中提供的所有信息均爲截至發佈之日，除非適用法律要求，否則公司不承擔任何更新任何前瞻性陳述的義務。
SOURCE Caravelle International Group
來源 Caravelle 國際集團
譯文內容由第三人軟體翻譯。