Taoping Receives Nasdaq Non-Compliance Notification

MT Newswires Live10-15

Taoping (TAOP) said late Wednesday it received a written notice from Nasdaq that it is not in compliance with the minimum bid price requirement of $1.00 per share for continued listing.

The company said it has a compliance period of 180 calendar days, or until April 12, to regain compliance with Nasdaq's minimum bid price requirement. It may be eligible for an additional 180 calendar day grace period.

If it fails to regain compliance during the second 180-day period, Nasdaq will notify the company of its determination to delist its ordinary shares, at which point Taoping can appeal the delisting determination to a Hearings Panel.

Taoping said it plans to monitor the closing bid price of the ordinary shares and might consider implementing available options to regain compliance.

Shares of Taoping were down 16.5% in after-hours trading.

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