PHCF - Puhui Wealth Investment Management receives delisting notification from Nasdaq

• Puhui Wealth Investment Management ( NASDAQ: PHCF ) said on Monday it had received a letter from the Nasdaq that its shares would be delisted and would be suspended at the opening of business on October 20 as the company had not regained compliance with the minimum bid price requirement.
• The company said it was not eligible for a second 180 day period, unless the Company requests an appeal of this determination.
• The Company intends to appeal the determination before a Hearings Panel in due course and plans to effectuate a share consolidation to regain compliance.
• ( PHCF ) has risen 18% after the bell.

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