Source: GlobalNewswire

Press Release: iFresh : iFresh Announces Receipt of Nasdaq Notice of Non-compliance; Intends to Request Hearing

NEW YORK, Nov. 08, 2019 (GLOBE NEWSWIRE) -- iFresh, Inc. ("iFresh" or "the Company") (Nasdaq: IFMK), a leading Asian American grocery supermarket chain and online grocer, announced today that on November 6, 2019, the Company received a letter from the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company had not regained compliance with Nasdaq Listing Rule 5550(b), which requires stockholders' equity of $2.5 million, or a market value of listed securities of $35 million or net income from continuing operations of $500,000, and that the Staff had determined not to grant an extension to allow the Company to demonstrate compliance. As a result, the Staff indicated that the Company would be subject to delisting from The Nasdaq Capital Market unless the Company timely requests a hearing before a Nasdaq Hearings Panel (the "Panel"). Accordingly, the Company intends to timely request a hearing before the Panel. The hearing request will stay any suspension or delisting of the Company's securities pending the hearing and the expiration of any extension period granted by the Panel following the hearing.

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Long Deng's photo - Chairman & CEO of iFresh

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Long Deng

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Ifresh Market owns and operates a chain of supermarkets. Read more