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QMMM Holdings Limited Announces to receive Nasdaq Minimum Bid Price Deficiency Letter
HONG KONG, Feb. 28, 2025 /PRNewswire/ -- QMMM Holdings Limited (Nasdaq: QMMM) (the "Company" or "QMMM Holdings"), a digital media advertising, virtual avatar
About this update from Qmmm Holdings Limited
[{"type":"text","content":"HONG KONG, Feb. 28, 2025 /PRNewswire/ -- QMMM Holdings Limited (Nasdaq: QMMM) (the \"Company\" or \"QMMM Holdings\"), a digital media advertising, virtual avatar & virtual apparel technology service provider in Hong Kong, today announced that on February 26, 2025, the Company received a letter from the Listing Qualifications staff of The Nasdaq Stock Market (\"Nasdaq\") notifying the Company that based on the closing bid price of the Company for the period from January 8, 2025 to February 25, 2025, the Company no longer meets the continued listing requirement of Nasdaq under Nasdaq Listing Rules 5550(a)(2), to maintain a minimum bid price of $1 per share.\n\nNasdaq has provided the Company with an 180 calendar days compliance period, or until August 25, 2025, in which to regain compliance with Nasdaq continued listing requirement. In the event that the Company does not regain compliance in the compliance period, the Company may be eligible for an additional 180 calendar days, should the Company 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 is able to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. However, if it appears that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that the Company's securities will be subject to delisting.\nThe Company is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq's continued listing requirement. Although the Company will use all reasonable efforts to achieve compliance with Rule 5550(a)(2), there can be no assurance that the Company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq continued listing requirement. \nAbout QMMM Holdings Limited\nQMMM Holdings is an award-winning digital advertising and marketing production services company.\nMore information about the Company can be found at: https://www.qmmm.io/ \nForward-Looking Statements\nCertain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unk...