AND EXCHANGE COMMISSION
to Section 13 or 15(d) of the
Exchange Act of 1934
of report (Date of earliest event reported): October 8, 2018
ECONOMY INTERNATIONAL INC.
name of registrant as specified in Charter)
or other jurisdiction of
9 Yanyu Middle Road
Village, Huishan District, Wuxi City
Province, People’s Republic of China
of Principal Executive Offices)
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act
of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
growth company ☐
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
October 8, 2018, Sharing Economy International Inc. (the “Company”) received a staff deficiency notice from The Nasdaq
Stock Market (“Nasdaq”) informing the Company that it has failed to comply with Nasdaq’s shareholder approval
requirements set forth in Listing Rule 5635(c) (the “Rule”). During the period from May 11, 2017 to date, the Company
entered into approximately one hundred arrangements resulting in the issuance or potential issuance of more than three million
shares to officers, directors, employees, and consultants (“Equity Compensation Grants”). The Company did not receive
shareholder approval for the Equity Compensation Grants, and the shares were not issued from a shareholder approval equity compensation
plan. The Company is continuing to review its internal records relating to prior issuances, and as information becomes available
regarding any shares issued in similar circumstances, the Company will notify Nasdaq.
Company intends to submit its plan to regain compliance no later than October 26, 2018. If the plan is accepted, Nasdaq can grant
an extension of up to one hundred eighty calendar days from October 8, 2018 to evidence compliance. The Company believes that
it has otherwise been compliant with its filing obligations pursuant to the Securities Exchange Act of 1934, as amended, including
making all appropriate disclosures to the marketplace. The Company is currently doing everything possible to cure its deficiencies
regarding the Rule.
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf
by the undersigned hereunto duly authorized.
|Date: October 12, 2018
||Sharing Economy International
Jianhua Wu |
||Chief Executive Officer|