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Global Mofy AI Limited Announces Receipt of Notification from Nasdaq
BEIJING, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Global Mofy AI Limited (the “Company” or “Global Mofy”) (Nasdaq: GMM), a generative AI-driven technology solutions
About this update from Global Mofy Ai Limited
[{"type":"text","content":"BEIJING, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Global Mofy AI Limited (the “Company” or “Global Mofy”) (Nasdaq: GMM), a generative AI-driven technology solutions provider engaged in virtual content production and the development of 3D digital assets for use in the broader digital content industry, today announced that it has received a written notification (the \"Notification Letter\") from the Listings Qualifications Department of The Nasdaq Stock Market LLC (\"Nasdaq\") on September 25, 2024. The Notification Letter advised the Company that for the last 30 consecutive business days, the minimum closing bid price per share for the Company’s ordinary shares was below the $1.00 per share requirement for continued listing under Nasdaq Listing Rule 5550(a)(2). The Company would like to clarify that the Notification Letter has no current effect on the listing or trading of the Company's securities on Nasdaq. Pursuant to Nasdaq Listing Rules 5810(c)(3)(A), the Company has been granted a compliance period of 180 calendar days, until March 24, 2025, to regain compliance with the Nasdaq Listing Rules. If, at any time during this compliance period, the closing bid price of the Company's ordinary shares reaches US$1.00 per share or higher for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance, and the matter will be resolved. In the event the Company does not regain compliance by March 24, 2025, it may be eligible for an additional 180 calendar day period to regain compliance. The Company intends to actively monitor the bid price for its shares and will evaluate available options to regain compliance with the continued listing requirements. About Global Mofy AI LimitedGlobal Mofy AI Limited (Nasdaq: GMM) is a generative AI-driven technology solutions provider engaged in virtual content production, and the development of digital assets for the digital content industry. Utilizing its proprietary \"Mofy Lab\" technology platform, which consists of interactive 3D and artificial intelligence (\"AI\") technology, the Company creates high-definition virtual versions of a wide range of physical world objects in 3D ranging from characters, objects to scenes and more. The digital assets can be used in different applications, including movies, TV series, AR/VR, animation, advertising, gam...