Business
Qilian International Holding Group Receives 180-day Extension from Nasdaq to Meet Minimum Bid Price Rule
JIUQUAN, China, Jan. 12, 2024 /PRNewswire/ -- Qilian International Holding Group Limited (NASDAQ: QLI) ("Qilian" or the "Company"), a China-based
About this update from Bgm Group Ltd.
[{"type":"text","content":"JIUQUAN, China, Jan. 12, 2024 /PRNewswire/ -- Qilian International Holding Group Limited (NASDAQ: QLI) (\"Qilian\" or the \"Company\"), a China-based pharmaceutical and chemical products manufacturer, today announced that on January 10, 2024, the Company received a written notification from the Nasdaq's Listing Qualifications Department, granting the Company another 180 calendar days extension, or until July 8, 2024, to regain compliance with Nasdaq's minimum bid price requirement.\n\nThe Company can cure this deficiency if the closing bid price of its ordinary shares is $1.00 per share or higher for at least 10 consecutive business days during this second compliance period. The Company intends to regain compliance with the minimum bid price requirement on or before July 8, 2024 and is considering all available options, including a reverse stock split if necessary. During this time, the Company's ordinary shares will continue to be listed and traded on the Nasdaq Capital Market, and this notice will have no effect on the operations of the Company's business.\nAbout Qilian International Holding Group Ltd\nQilian International Holding Group Ltd, headquartered in Gansu, China, is a pharmaceutical and chemical products manufacturer in China. It focuses on the development, manufacture, marketing and sale of licorice products, oxytetracycline products, traditional Chinese medicine derivatives product, heparin product, sausage casings, and fertilizers. The Company's products are sold in more than 20 provinces in China. For more information, visit the Company's website at http://ir.qlsyy.net\nSafe Harbor Statement\nCertain statements made in this release are \"forward looking statements\" within the meaning of the \"safe harbor\" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words \"estimates,\" \"projected,\" \"expects,\" \"anticipates,\" \"forecasts,\" \"plans,\" \"intends,\" \"believes,\" \"seeks,\" \"may,\" \"will,\" \"should,\" \"future,\" \"propose\" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncer...