Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or

           Standard; Transfer of Listing.

On May 27, 2020, Asta Funding, Inc. (the "Company") received a letter from the Nasdaq Stock Market ("Nasdaq") notifying the Company that it had violated Nasdaq Listing Rule 5250(c)(1) because the Company had not yet filed its Quarterly Report on Form 10-Q for the period ended March 31, 2020 (the "Quarterly Report") with the Securities and Exchange Commission (the "SEC"). As previously disclosed on May 18, 2020 on Form 12b-25, the Quarterly Report could not be filed by its May 15, 2020 deadline without unreasonable effort and expenses due to delays experienced in the collection, compilation and analysis of certain information required to be included in the Quarterly Report.

In its letter, Nasdaq stated that the Company had until July 27, 2020 to submit a plan to regain compliance. If Nasdaq accepted the Company's plan, it could then grant an exception of up to 180 calendar days from the Quarterly Report's due date, or until November 16, 2020, to regain compliance. If Nasdaq did not accept the Company's plan, the Company would have had the opportunity to appeal that decision to a Nasdaq Hearings Panel and to request a further stay pending the appeal. Nasdaq's letter has had no immediate effect on the listing or trading of the Company's common stock on The Nasdaq Global Select Market.

On May 29, 2020, the Company filed the Quarterly Report with the SEC and subsequently received a close-out letter from Nasdaq on June 1, 2020, which alerted the Company that it had regained compliance under Rule 5250(c)(1).

A copy of the press release announcing the May 27, 2020 and June 1, 2020 Nasdaq notifications is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.






(d) Exhibits.



Exhibit
No.     Description
99.1      Press Release issued by Asta Funding, Inc. dated June 1, 2020.




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