SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
reported): February 10, 2017 (February 3, 2017)
HONGLI CLEAN ENERGY TECHNOLOGIES CORP.
(Exact name of registrant as specified
in its charter)
|(State or other jurisdiction of incorporation)
||(Commission File Number)
||(IRS Employer Identification No.)|
Kuanggong Road and Tiyu Road, 10th Floor,
Chengshi Xin Yong She, Tiyu Road,
Xinhua District, Pingdingshan, Henan
People’s Republic of China
(Address of principal executive offices
and zip code)
(Registrant’s telephone number, including
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|¨||Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
As previously reported, on October 12,
2016, the Company received a Determination letter from The NASDAQ Stock Market LLC (the “Nasdaq”) notifying the Company
of the Nasdaq Staff’s determination that the Company’s failure to timely file its annual report on Form 10-K for the
fiscal year ended June 30, 2016 could serve as an additional basis for delisting from The Nasdaq Stock Market pursuant to Listing
Rule 5250(c)(1). In addition, on November 16, 2016, the Company received an additional deficiency notice for the late filing of
its periodic report on Form 10-Q for the quarter ended September 30, 2016, which could also serve as an additional basis for delisting
pursuant to Listing Rule 5250(c)(1). The Company had previously been notified that it did not comply with the $1.00 bid price
requirement for continued listing, as set forth in Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”). In response,
on October 27, 2016, the Company effected a 1-for-10 reverse stock split. As of the date of this current report, the Company’s
bid price has remained above $1.00 per share for 94 consecutive trading days.
Based on the foregoing, the Company requested
a hearing before a Nasdaq Listing Qualifications Panel (the “Panel”). As previously reported, following the oral hearing
before the Panel on November 17, 2016, on November 21, 2016, the Company received written notification that the Panel had determined
that the Company has regained compliance with the Minimum Bid Price Rule and has granted the Company’s request for continued
listing pending the filing of its delinquent reports and any necessary restatements with the Securities and Exchange Commission
through January 31, 2017.
On January 30, 2017, the Company informed
the Panel that its auditor had notified the Company on January 26, 2017 that it would need additional time to complete the audit.
The Company represented that no issues of concern had arisen with respect to the audit, but that the Company’s former auditor
had been slow to respond to requests for documents. The Company stated that, based on information form the auditor, the audit and
review process should be completed within 4-5 weeks. The Panel has granted the Company’s request for extension of exception
period pending the filing of its delinquent reports and any necessary restatements with the Securities and Exchange Commission
by March 31, 2017.
Notwithstanding the foregoing, there can
be no assurance that the Company will regain compliance by March 31, 2017, or that the Panel will grant a further extension in
the event the Company does not timely regain compliance.
On February 10, 2017, the Company issued
a press release relating to the matters described above.
||Financial Statements and Exhibits.|
The following exhibits are furnished as
part of this Current Report on Form 8-K:
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|Dated: February 10, 2017
||HONGLI CLEAN ENERGY TECHNOLOGIES CORP.|
||/s/ Jianhua Lv|
||Chief Executive Officer|