DATASEA INC.: Nasdaq/NYSE listing notice — Datasea receives Nasdaq deficiency notice for minimum bid price non-compliance

DATASEA INC.

Received notice on Aug 7, 2023 for failing to maintain $1.00 minimum bid price over 30 consecutive business days.
Has 180 days, until Feb 5, 2024, to regain compliance by closing at $1.00+ for 10 consecutive business days.
If not cured, may be eligible for an additional 180-day period subject to other listing standards and potential reverse stock split.
Company intends to monitor and evaluate options, but no assurance of regaining compliance.

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 0.9

DATASEA INC. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

price of the Company’s common stock (“Common Stock”) for the last 30 consecutive business days, the Company is not currently in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Requirement”). The Notice has no immediate effect on the continued listing status of the Company’s Common Stock on the Nasdaq Capital Market, and, therefore, the Company’s listing remains fully effective. However, the Company is provided a compliance period of 180 calend

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Source: SEC EDGAR

accession 0001213900-23-066247

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