Business
Greenpro Regains Nasdaq Compliance
HONG KONG / ACCESSWIRE / June 11, 2020 / Greenpro Capital Corp. (NASDAQ:GRNQ) (the "Company") today confirmed that it has regained compliance with Nasdaq's
About this update from Greenpro Capital Corp.
[{"type":"text","content":"HONG KONG / ACCESSWIRE / June 11, 2020 / Greenpro Capital Corp. (NASDAQ:GRNQ) (the \"Company\") today confirmed that it has regained compliance with Nasdaq's minimum bid price requirement.The Company received a letter dated November 29, 2019 from the Listing Qualifications Department of the NASDAQ Stock Market LLC (\"Nasdaq\"), which advised the Company that it no longer met the Nasdaq requirement which requires listed securities to maintain a minimum bid price of $1 per share. The Company may regain compliance with the minimum bid price rule if the bid price of its common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days at any time prior to May 27, 2020, which date was extended to August 10, 2020 due to the Covid-19 pandemic.On June 9, 2020, the Company posted a minimum bid price of at least $1.00 for 10 consecutive days, which meets the Nasdaq rule to regain compliance.CEO CK Lee said, \"We are pleased to announce to our loyal shareholders that we are back in full compliance with Nasdaq's continued listing requirements as our officers and directors continue to be committed to build a strong and valuable enterprise.\"About the Millennium Fine Art businessGRNQ plans to spinoff MFAI as an independent company and intends to conduct an IPO and list on either the Nasdaq or NYSE. MFAI intends to take the Millennium Sapphire and other art masterpieces on a world tour of museums once they are open to the public, as well as to develop a virtual reality platform including sales and live art auctions. MFAI President, Curtis Brooks said, \"We are currently focused on the acquisition of a high-end art gallery business and we intend to retain leading art and promotions experts globally to assist us in acquiring some of the top art collections and masterpieces for exhibits, promotional events as well as viewing and sales through our online multi-dimensional auction platform.\"About Greenpro Capital Corp.Headquartered in Hong Kong with strategic offices across Asia, Greenpro Capital Corp. (NASDAQ:GRNQ) is a business incubator and multinational conglomerate with a diversified business portfolio comprising finance, technology, banking, CryptoSx for STOs, health and wellness, fine art, etc. With 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Wor...