Business
China Jo-Jo Drugstores Granted Extension to Meet Nasdaq Minimum Bid Price Requirement
HANGZHOU, China, Jan. 26, 2022 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online and offline
About this update from Ridgetech, Inc.
[{"type":"text","content":"HANGZHOU, China, Jan. 26, 2022 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) (\"Jo-Jo Drugstores\" or the \"Company\"), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced that on January 25, 2022, the Company received another 180 calendar day extension from Nasdaq's Listing Qualifications Department to meet Nasdaq's continuing listing requirements by maintaining a minimum bid price per share of $1.00 for a minimum of 10 consecutive trading days. The Company now has until July 25, 2022 to regain compliance. \nIf at any time before July 25, 2022, the bid price of the Company's ordinary shares closes at or above $1.00 per share for a minimum of 10 consecutive trading days, the Company will regain compliance with the Nasdaq Listing Rules, and the matter will be closed.\nThe Company was first notified by Nasdaq of its failure to maintain a minimum bid price of $1.00 per share for 30 consecutive trading days under Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A) on July 26, 2021, and was given until January 24, 2022 to regain compliance. \nAbout China Jo-Jo Drugstores, Inc.\nChina Jo-Jo Drugstores, Inc. (\"Jo-Jo Drugstores\" or the \"Company\"), is a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare products and a provider of healthcare services in China. Jo-Jo Drugstores currently operates an online pharmacy and retail drugstores with licensed doctors on site for consultation, examination and treatment of common ailments at scheduled hours. It is also a wholesale distributor of products similar to those carried in its pharmacies. For more information about the Company, please visit http://jiuzhou360.com. The Company routinely posts important information on its website.\nForward-Looking Statements\nThis press release contains information about the Company's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variab...