BEIJING, Aug. 17,
2022 /PRNewswire/ -- Akso Health Group. (NASDAQ: AHG)
("Akso Health" the "Company" or "we"), today announced that the
Company received a written notification (the "Notification") from
the Nasdaq Stock Market LLC ("Nasdaq") on August 16, 2022, indicating the Company is not in
compliance with the timely filing requirement for continued listing
under Nasdaq Listing Rules 5250(c)(1) since the Company has not yet
filed its Annual Report on Form 20-F for the fiscal year ended
March 31, 2022 (the "Filing") with
the Securities and Exchange Commission (the "SEC").
In accordance with Nasdaq Listing Rule 5250(c)(1), the Company
has up to 60 calendar days to either cure the deficiency or to
submit a plan to Nasdaq showing how it intends to regain
compliance. If the plan is accepted, Nasdaq can grant the Company
an exception of up to 180 calendar days from the Filing's due date,
or until February 13, 2023, to regain compliance.
The Company's business operations are not affected by the
Notification and the Company intends to either cure the deficiency
or submit the plan as soon as practicable but no later than
October 17, 2022. This announcement
is made in compliance with Nasdaq Listing Rule 5810(b), which
requires prompt disclosure of receipt of a notification of
deficiency.
About Akso Health Group
Akso Health Group Inc. (NASDAQ: AHG), formerly known as Xiaobai
Maimai Inc., operates a social
e-commerce platform in China that
collaborates with other domestic e-commerce platforms and offers
users a wide selection of high-quality and affordable products. In
addition, the Company plans to develop a new business as a cancer
therapy and radiotherapy oncology service provider with operations
in the U.S. The Company plans to open 2 vaccine research centers
and 100 radiation oncology centers to be located on the east coast
serving cancer patients in need of varying stages of treatment,
including specialized radiation therapy centers for radiotherapy
(RT), personalized consultation, conventional treatment planning,
and other cancer related treatment services.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These statements can be identified by terminology such
as "will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "potential," "continue," "ongoing,"
"targets," "guidance" and similar statements. The Company may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Any statements that are
not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Such factors and risks include, but not limited to the
following: risks related to our ability to obtain equipment,
technology, license and talents at satisfactory terms to start the
planned business, if at all; risks regarding the effect of the
COVID-19 pandemic on the Company and the Company's position in a
post-COVID-19 environment; risks related to the Company's ability
to adapt and make the necessary adjustments to compete and operate
effectively; risks related to decisions or changes in governmental
or private insurers' reimbursement levels for our radiotherapy
services or our ability to obtain reimbursement for our
radiotherapy services; risks related to increased competition and
the development of new competing services; the risk that we may be
unable to develop or achieve commercial success for radiotherapy
services in a timely manner, or at all; risks related to regulatory
requirements or enforcement in the United States and
changes in the structure of the healthcare system or healthcare
payment systems; risks related to our ability to successfully
integrate and derive benefits from any technologies that we license
or acquire; risks related to our projections about our business,
results of operations and financial condition; and risks related to
the potential market opportunity for our products and services.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the SEC. All
information provided in this announcement is current as of the date
of this announcement, and the Company does not undertake any
obligation to update such information, except as required under
applicable law.
For more information, please visit ir.xiaobaimaimai.com
For investor inquiries, please contact:
The Company
Investor Relations
Ms. Zenabo Ma
Email: ir@ahgtop.com
Christensen
In China
Mr. Eric Yuan
Phone: +86-10- 5900-1548
E-mail: Eyuan@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
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SOURCE Akso Health Group
