ReTo Eco-Solutions, Inc 6-K, filed Mar 20, 2024
ReTo Eco-Solutions, Inc. (RETO)
About this 6-K
ReTo Eco-Solutions, Inc filed this 6-K on March 20, 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2024
Commission file number: 001-38307
RETO ECO-SOLUTIONS, INC.
(Registrant’s name)
c/o Beijing REIT Technology Development Co., Ltd.
X-702, 60 Anli Road, Chaoyang District, Beijing
People’s Republic of China 100101
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
As previously disclosed, on October 13, 2023, ReTo Eco-Solutions, Inc., a British Virgin Islands business company (the “Company”), received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”). The Company was provided 180 calendar days, or until April 10, 2024, to regain compliance with the Minimum Bid Price Rule.
Since then, Nasdaq has determined that for 10 consecutive business days, from March 1, 2024 through March 14, 2024, the closing bid price of the Company’s common shares has been at $1.00 per share or greater. On March 15, 2024, Nasdaq notified the Company that it has regained compliance with the Minimum Bid Price Rule and the matter is now closed.
In addition, as previously disclosed, on December 28, 2023, the Company received a letter from Nasdaq notifying the Company that it is not in compliance with the minimum stockholders’ equity criteria as set forth in Nasdaq Listing Rule 5550(b)(1) (the “Minimum Stockholders’ Equity Rule”), for which the Company made submissions to Nasdaq on its plan to regain compliance. On March 15, 2024, Nasdaq issued a second notification letter and granted the Company an extension to regain compliance, provided that the Company files by May 15, 2024 its Form 20-F for the fiscal year ended December 31, 2023, demonstrating its compliance with the Minimum Stockholders’ Equity Rule.
On March 20, 2024, the Company issued a press release titled “ReTo Regained Compliance with Nasdaq’s Minimum Bid Price Requirement and Received Extension on Compliance with Nasdaq’s Minimum Stockholders’ Equity Rule.” A copy of that press release is attached as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K and is incorporated by reference herein.
INCORPORATION BY REFERENCE
This Report on Form 6-K, including Exhibit 99.1 hereto, shall be deemed to be incorporated by reference into each of (i) the registration statement on Form F-3, as amended (File No. 333-267101) of the Company, (ii) the registration statement on Form S-8, as amended (File No. 333-270355), of the Company and (iii) the registration statement on Form S-8, as amended (File No. 333-264499), of the Company and to be a part thereof from the date on which this Report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.
EXHIBIT INDEX
| Exhibit | Description | |
| 99.1 | Press Release issued by the Company on March 20, 2024. |
1
SIGNATURE
Pursuant 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, thereunto duly authorized.
| RETO ECO-SOLUTIONS, INC. | ||
| Dated: March 20, 2024 | By: | /s/ Hengfang Li |
| Hengfang Li | ||
| Chief Executive Officer | ||
2
Exhibit 99.1
ReTo Regained Compliance with Nasdaq’s Minimum Bid Price Requirement and Received Extension on Compliance with Nasdaq’s Minimum Stockholders’ Equity Rule
BEIJING, CHINA – March 20, 2024 – ReTo Eco-Solutions, Inc. (Nasdaq: RETO) (“ReTo” or the “Company”), a provider of technology solutions and operation services for intelligent ecological environments and Internet of Things technology development services in China and other countries, today announced that on March 15, 2024, it received a notification letter from The Nasdaq Stock Market LLC (“Nasdaq”) confirming the Company has regained compliance with Nasdaq’s minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). Nasdaq has noted that this matter is now closed.
In addition, on March 15, 2024, the Company received a notification letter from Nasdaq that it has determined to grant the Company an extension to regain compliance with the minimum stockholders’ equity criteria as set forth in Nasdaq Listing Rule 5550(b)(1), provided that the Company files by May 15, 2024 its Form 20-F for the fiscal year ended December 31, 2023, demonstrating its compliance with such minimum stockholders’ equity criteria.
About ReTo Eco-Solutions, Inc.
Founded in 1999, ReTo Eco-Solutions, Inc., through its proprietary technologies, systems and solutions, is striving to bring clean water and fertile soil to communities worldwide. The Company, through its operating subsidiaries in China, is engaged in the ecological restoration and solid waste treatment, manufacturing and distribution of eco-friendly construction materials (aggregates, bricks, pavers and tiles) made from mining waste (iron tailings), and soil remediation materials transformed from solid waste (iron tailings), as well as equipment used for the production of these eco-friendly construction materials and soil remediation materials. In addition, the Company provides consultation, design, project implementation and construction of urban ecological protection projects and parts, engineering support, consulting, technical advice and service, and other project-related solutions for its manufacturing equipment and environmental protection projects. The Company also offers roadside assistance services and technology development services utilizing Internet of Things technologies. For more information, please visit: http://en.retoeco.com.
For more information, please contact:
ReTo Eco-Solutions, Inc.
Angela Hu
Beijing Phone: +86-010-64827328
ir@retoeco.com or 310@reit.cc