DATASEA INC.: Nasdaq/NYSE listing notice — Datasea receives Nasdaq deficiency notice for MVLS below $35M minimum

DATASEA INC.

MVLS below $35M minimum for 30 consecutive business days as of Dec 9, 2022.
Company given 180 days, until June 7, 2023, to regain compliance.
No immediate effect on Nasdaq listing; company to monitor and consider options.
Compliance requires MVLS closing at $35M or more for 10 consecutive business days.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

DATASEA INC. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2)

Exact text from the filing

December 9, 2022, Datasea Inc. (the “Company”) received a deficiency letter from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that, for the preceding 30 consecutive business days, the Company’s Market Value of Listed Securities (“MVLS”) was below the $35 million minimum requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2) (the “MVLS Requirement”). The notification received has no immediate effect on the Company’s Nasdaq listing. In accordance with Nasdaq rules, the Company

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Source: SEC EDGAR

accession 0001213900-22-079803

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