MMTEC, Inc. Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

PR Newswire07-11

HONG KONG, July 10, 2024 /PRNewswire/ -- MMTEC, Inc. (NASDAQ: MTC) ("MMTEC", "we", "our" or the "Company"), a China-based technology company that provides access to the U.S. financial markets, today ...

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Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-11 05:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mmtec-inc-announces-receipt-nasdaq-210000857.html><strong>PR Newswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>HONG KONG, July 10, 2024 /PRNewswire/ -- MMTEC, Inc. (NASDAQ: MTC) (\"MMTEC\", \"we\", \"our\" or the \"Company\"), a China-based technology company that provides access to the U.S. financial markets, today ...</p>\n\n<a href=\"https://finance.yahoo.com/news/mmtec-inc-announces-receipt-nasdaq-210000857.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TQQQ","symbol_name":"纳指三倍做多ETF","start_time":0,"source_url":"https://finance.yahoo.com/news/mmtec-inc-announces-receipt-nasdaq-210000857.html","article_id":"2450825350","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/NU6iM_AwYol0NVJNYU3lTA--~B/aD0xNjt3PTE2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/prnewswire.com/fcd6487c2be021b96964aa416fc9943a"],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/mmtec-inc-announces-receipt-nasdaq-210000857.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2450825350","pubTimestamp":1720645200,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"HONG KONG, July 10, 2024 /PRNewswire/ -- MMTEC, Inc.  , a China-based technology company that provides access to the U.S. financial markets, today announced that on July 8, 2024, the Company received a notification letter  from the Listings Qualifications Department of TheNasdaq Stock Market LLC  regarding a failure to meet Nasdaq's minimum bid price requirements. The Notification Letter advised that for the last 30 consecutive business the minimum closing bid price per share for the Company's common stock was below the $1.00 per share requirement for continued listing underNasdaqListing Rule 5550 . This press release is issued pursuant to Nasdaq Listing Rule 5810, which requires prompt disclosure of receipt of a deficiency notification.The Notification Letter has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market.More information about the Company can be found at: www.haisc.com.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TQQQ":"纳指三倍做多ETF","LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","BK4585":"ETF&股票定投概念","BK4567":"ESG概念","LU2041044095.USD":"Blackrock Circular Economy A2 USD","LU1543694498.USD":"法巴水资源基金RH MD Dis","PSQ":"纳指反向ETF","LU1721428933.USD":"法巴全球经典环境基金RH MD Dis","QQQ":"纳指100ETF","BK4121":"生命科学工具和服务","NDAQ":"纳斯达克OMX交易所","MTC":"海川证券","BK4588":"碎股","A":"安捷伦科技","QID":"纳指两倍做空ETF","LU2413666699.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"CRH\" (HKDHDG) INC",".IXIC":"NASDAQ Composite","H":"凯悦酒店","SQQQ":"纳指三倍做空ETF","BK4142":"酒店、度假村与豪华游轮","BK4112":"金融交易所和数据","LU2092937221.SGD":"Blackrock Circular Economy A2 SGD-H","LU2413666426.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (HKD) ACC","LU0347712357.USD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (USD) ACC","LU1165135440.EUR":"BNP Paribas Aqua Classic Cap EUR","LU2095319765.USD":"Natixis Thematics Subscription Economy R/A USD","BK4023":"应用软件","QLD":"纳指两倍做多ETF","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD"},"translate_title":"MMTEC，Inc.宣布收到纳斯达克关于最低投标价格不足的通知","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"A":1,"H":1,"NDAQ":1,".IXIC":1,"MTC":0.9,"SQQQ":0.6,"QQQ":0.6,"QLD":0.6,"QID":0.6,"PSQ":0.6,"TQQQ":0.6,"NQmain":0.6,"MNQmain":0.6},"content_text":"HONG KONG, July 10, 2024 /PRNewswire/ -- MMTEC, Inc. (NASDAQ: MTC) (\"MMTEC\", \"we\", \"our\" or the \"Company\"), a China-based technology company that provides access to the U.S. financial markets, today announced that on July 8, 2024, the Company received a notification letter (the \"Notification Letter\") from the Listings Qualifications Department of The Nasdaq Stock Market LLC (\"Nasdaq\") regarding a failure to meet Nasdaq's minimum bid price requirements. The Notification Letter advised that for the last 30 consecutive business the minimum closing bid price per share for the Company's common stock was below the $1.00 per share requirement for continued listing under Nasdaq Listing Rule 5550(a)(2) (the \"Bid Price Rule\"). This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.\nThe Notification Letter has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market.\nPursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until January 6, 2025 (the \"Compliance Period\"), to regain compliance with the Bid Price Rule. If at any time during the Compliance Period, the closing bid price per share of the Company's common stock is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed, unless the Staff exercises its discretion to extend this 10 day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H).\nIn the event the Company does not regain compliance by January 6, 2025, the Company may be eligible for an additional 180 calendar day period to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, including by effecting a reverse stock split, if necessary. If the Company chooses to implement a reverse stock split, it must complete the split no later than ten business days prior to the expiration of the second compliance period.\nThe Company intends to monitor the closing bid price of its common stock and may, if appropriate, consider available options to regain compliance with the Bid Price Rule, which could include effecting a reverse stock split. However, there can be no assurance that the Company will be able to regain compliance with the Bid Price Rule.\nAbout MMTEC, Inc.\nHeadquartered in Hong Kong Special Administrative Region, our Company mainly focuses on investment banking and asset management business, providing customers with one-stop and all-round financial services.\nMore information about the Company can be found at: www.haisc.com.\nForward-Looking Statements\nThis press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as \"may\", \"will\", \"intend\", \"should\", \"believe\", \"expect\", \"anticipate\", \"project\", \"estimate\" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company's statements regarding its ability to regain compliance with the Bid Price Rule, its continued growth, its business outlook, and other similar statements are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 20-F and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.\n View original content:https://www.prnewswire.com/news-releases/mmtec-inc-announces-receipt-of-nasdaq-notification-regarding-minimum-bid-price-deficiency-302193338.html\nSOURCE MMTEC, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2450825350"}