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SPI Energy receives notice of noncompliance with Nasdaq listing rules

SPI Energy Co. Ltd. said May 29 that it will file an updated compliance plan with the Nasdaq stock exchange after the company received notice for noncompliance with its listing rules.

SPI Energy said in a news release that it received notice that it did not file its annual report for the year ended Dec. 31, 2017, with the U.S. SEC in a timely manner and therefore is not in compliance with continued listing. SPI Energy must submit a plan to regain compliance to Nasdaq no later than July 16.

If the compliance plan is accepted, Nasdaq may grant an exception of up to 180 calendar days from the due date of the annual report, or Nov. 12. The notice has no immediate effect on the listing of SPI securities, the company said in the news release.

SPI Energy provides renewable energy solutions and cryptocurrencies miner hosting service for business, residential, government and utility customers and investors.