NASDAQ REQUESTS PLAN OF COMPLIANCE FROM DS HEALTHCARE

POMPANO BEACH, FL, April 26, 2016 (Newswire.com) - ​On April 20, 2016, DS Healthcare received a notification from Nasdaq that the company is in violation of its Listing Rules as a consequence of not yet filing Form 10-K for the period ending December 31, 2015. The letter further indicates that NASDAQ will allow DS Healthcare (DSKX) the option to present a plan by May 11, 2016 that would bring the company back into listing compliance.

Given the company’s inability to file on time, as described in its Form 8-K filed on April 15, 2016, and based on recent developments as detailed in the company’s public press releases and filings since March 23, 2016, NASDAQ has determined to utilize its discretionary authority set forth in Listing Rule 5101¹ to shorten this time frame to 21 calendar days (ordinarily a company would be allotted 60 days), or by May 11, 2016.

If accepted, NASDAQ can grant DS Healthcare Group an exception of up to 180 calendar days from the filing's due date, or until October 11, 2016, to regain compliance. If the plan is not approved, DS Healthcare Group will have the opportunity to appeal that decision.

DS Healthcare is committed to meet all Nasdaq listing requirements and working diligently to finalize open issues.
 

¹ Listing Rule 5101 states, in part, that “Nasdaq...has broad discretionary authority over the initial and continued listing of securities....Nasdaq may use such discretion... to apply additional or more stringent criteria for the continued listing of the securities on Nasdaq.”

About DS Healthcare Group

DS Healthcare Group Inc. develops novel biotechnology for topical therapies. It markets through online channels, specialty retailers, distributors, pharmacies, and salons. Its research has led to a highly innovative portfolio of personal care products and additional innovations in pharmaceutical projects. For more information on DS Healthcare Group or its flagship brands, visit www.dshealthgroup.com

Forward-looking statements

Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies, and are generally preceded by words such as "future," "plan" or "planned," "expects," or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing and marketing products, intense competition, and additional risks factors as discussed in reports filed by the company with the Securities and Exchange Commission, which are available at www.sec.gov

Contact:

Investor Relations
DS Healthcare Group 
(888) 404-7770 ext. 3
[email protected]

Source: DS Healthcare