DATASEA INC.: Nasdaq/NYSE listing notice — Datasea receives Nasdaq delisting notice for failing MVLS requirement; plans appeal

DATASEA INC.

On December 9, 2022, Nasdaq notified Datasea that its MVLS was below $35M for 30 consecutive business days.
Company was given 180 days (until June 7, 2023) to regain compliance; it failed to do so.
On June 8, 2023, Nasdaq sent a delisting notice; trading will be suspended at open on June 20, 2023 unless appeal is filed.
Datasea intends to request an appeal of the delisting determination.
If no appeal, a Form 25-NSE will be filed removing the securities from Nasdaq listing and registration.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

DATASEA INC. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2), 5810(c)(3)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2), 5810(c)(3)(C)

Exact text from the filing

June 8, 2023, the Company received a letter from Nasdaq indicating that the Company had not regained compliance with the Rule. Accordingly, its securities will be delisted from Nasdaq. In that regard, unless the Company requests an appeal of that determination, trading of the Company’s common stock will be suspended at the opening of business on June 20, 2023, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Company’s securities from listing and registration on Nasdaq. The Company intends on requesting an appeal of the delisting det

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Source: SEC EDGAR

accession 0001213900-23-048587

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