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AB INTL GROUP Reports the OTCQB Bid Price Deficiency Notice of OTC Market Group

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AB International Group Corp. (OTCQB: ABQQ) received a Bid Price Deficiency Notice from OTC Market Group on May 2, 2022, due to its stock closing below $0.01 for over 30 days. The company has a 90-day cure period to raise its stock price to meet OTCQB standards. A reverse stock split is planned to address this issue. The firm specializes in intellectual property and movie investment, with a new video streaming service under the brand ABQQ.tv aiming to generate immediate revenue through a hybrid subscription and advertising model.

Positive
  • Plans to implement a reverse stock split to regain compliance with OTCQB standards.
  • Launch of ABQQ.tv expected to create a new revenue stream through a hybrid subscription and advertising model.
Negative
  • Stock price fell below $0.01 for more than 30 consecutive days, risking removal from OTCQB.
  • Immediate removal from OTCQB if closing bid price drops below $0.001 for five consecutive trading days.

NEW YORK, July 11, 2022 (GLOBE NEWSWIRE) -- AB International Group Corp. (OTCQB: ABQQ), an intellectual property (IP) and movie investment and licensing firm, today reports it received OTCQB Bid Price Deficiency Notice from OTC Market Group dated May 2, 2022. The notice content as below:

Please be advised that the company’s bid price has closed below $0.01 for more than 30 consecutive calendar days and no longer meets the Standards for Continued Eligibility for OTCQB as per the OTCQB Standards, Section 2.3(2), which states that the company must “maintain proprietary priced quotations published by a Market Maker in OTC Link with a minimum closing bid price of $.01 per share on at least one of the prior thirty consecutive calendar days.”

As per Section 4.1 of the OTCQB Standards, the company will be granted a cure period of 90 calendar days during which the minimum closing bid price for the Company’s common stock must be $.01 or greater for ten consecutive trading days in order to continue trading on the OTCQB marketplace. If this requirement is not met by July 31, 2022, the company will be removed from the OTCQB marketplace.

In addition, please note that in the event that the Company’s closing bid price falls below $0.001 at any time for five consecutive trading days, the Company will be immediately removed from OTCQB.

The Company plans to apply a reverse stock split to meet the requirement.

About AB International Group Corp.
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property. We are engaged to acquisition and distribution of movies. The Company engages highly anticipated video streaming service targeting global multi-billion dollar and growing video streaming industry. The online service will be marketed and distributed in the world under the brand name ABQQ.tv. ABQQ.tv is expected to generate a new and profitable revenue stream immediately following its launch derived from its hybrid subscription and advertising business model. The company is investing in NFT movie and music marketplace as the unique entertainment industry Non-Fungible Token. www.stareastnet.io 

For additional information visit www.abqqs.com and www.ABQQ.tv and NFT MMM www.stareastnet.io

Forward-Looking Statements
This press release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to changes to the Company's management team and statements relating to the Company's transformation, financial and operational performance including the acceleration of revenue and margins, and the Company's overall strategy. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the possibility of business disruption, competitive uncertainties, and general economic and business conditions in AB International Groups markets as well as the other risks detailed in company filings with the Securities and Exchange Commission. AB International Group undertakes no obligation to update any statements in this press release for changes that happen after the date of this release.

Investor Relations Contact:
Jeff Deng
(212) 918-4519
corp@abqqs.com


FAQ

What is the reason for ABQQ's recent bid price deficiency notice?

ABQQ received a notice due to its stock closing below $0.01 for over 30 consecutive days.

What must ABQQ do to maintain its OTCQB listing?

ABQQ must raise its stock price to $0.01 or greater for at least ten consecutive trading days within a 90-day cure period.

What is AB International Group Corp.'s plan to address the bid price deficiency?

The company plans to apply a reverse stock split to meet the minimum bid price requirement.

What could happen if ABQQ fails to meet the OTCQB requirements?

If ABQQ fails to meet the requirements by July 31, 2022, it will be removed from the OTCQB marketplace.

How does ABQQ plan to generate revenue through its new streaming service?

ABQQ.tv will generate revenue through a hybrid subscription and advertising model.

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Entertainment
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United States of America
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