Abits Group Inc Receives NASDAQ Minimum Bid Price Requirement Extension
Abits Group Inc (NASDAQ: ABTS), a bitcoin mining company operating in the United States, has received an extension from NASDAQ to comply with its minimum bid price requirement. The company now has an additional 180 calendar days, until April 7, 2025, to meet the compliance standards.
To regain compliance, Abits Group's common shares must maintain a closing bid price of at least $1.00 for a minimum of ten consecutive business days before the new deadline. This extension provides the company with more time to address its stock price issues and maintain its NASDAQ listing.
Abits Group Inc (NASDAQ: ABTS), una società di mining di bitcoin operante negli Stati Uniti, ha ricevuto un prolungamento da NASDAQ per rispettare il requisito del prezzo minimo di offerta. L'azienda ha ora 180 giorni di calendario aggiuntivi, fino al 7 aprile 2025, per soddisfare gli standard di conformità.
Per ripristinare la conformità, le azioni ordinarie di Abits Group devono mantenere un prezzo di chiusura di almeno $1.00 per un minimo di dieci giorni lavorativi consecutivi prima della nuova scadenza. Questo prolungamento offre all'azienda maggior tempo per affrontare i problemi relativi al prezzo delle azioni e mantenere la sua quotazione su NASDAQ.
Abits Group Inc (NASDAQ: ABTS), una compañía de minería de bitcoin que opera en los Estados Unidos, ha recibido una prórroga de NASDAQ para cumplir con su requisito de precio mínimo de oferta. La compañía ahora tiene 180 días calendario adicionales, hasta el 7 de abril de 2025, para cumplir con los estándares de conformidad.
Para recuperar la conformidad, las acciones comunes de Abits Group deben mantener un precio de oferta de cierre de al menos $1.00 durante un mínimo de diez días hábiles consecutivos antes de la nueva fecha límite. Esta prórroga brinda a la empresa más tiempo para abordar los problemas relacionados con el precio de sus acciones y mantener su cotización en NASDAQ.
Abits Group Inc (NASDAQ: ABTS), 미국에서 운영되는 비트코인 채굴 회사는 최소 제안 가격 요구 사항을 준수하기 위해 NASDAQ의 연장을 받았습니다. 이제 회사는 추가로 180일, 즉 2025년 4월 7일까지 준수 기준을 충족할 수 있는 추가 시간이 있습니다.
준수를 되찾기 위해 Abits Group의 보통 주식은 새로운 마감 기한 전에 최소 $1.00의 종가를 연속 10영업일 이상 유지해야 합니다. 이 연장은 회사가 주가 문제를 해결하고 NASDAQ 상장 유지를 위한 더 많은 시간을 제공합니다.
Abits Group Inc (NASDAQ: ABTS), une entreprise de minage de bitcoin opérant aux États-Unis, a reçu une prolongation de la part de NASDAQ pour se conformer à son exigence de prix d'offre minimum. L'entreprise a maintenant 180 jours supplémentaires, jusqu'au 7 avril 2025, pour répondre aux normes de conformité.
Pour retrouver la conformité, les actions ordinaires d'Abits Group doivent maintenir un prix de clôture d'au moins 1,00 $ pendant un minimum de dix jours ouvrables consécutifs avant la nouvelle date limite. Cette prolongation offre à l'entreprise plus de temps pour traiter ses problèmes de prix des actions et maintenir son inscription sur NASDAQ.
Abits Group Inc (NASDAQ: ABTS), ein Bitcoin-Mining Unternehmen, das in den Vereinigten Staaten tätig ist, hat eine Verlängerung von NASDAQ erhalten, um die Mindestgebotsanforderung zu erfüllen. Das Unternehmen hat jetzt zusätzliche 180 Kalendertage, bis zum 7. April 2025, um die Compliance-Standards zu erreichen.
Um die Konformität wiederzuerlangen, müssen die Stammaktien von Abits Group einen Schlusskurs von mindestens 1,00 $ für mindestens zehn aufeinanderfolgende Geschäftstage vor der neuen Frist aufrechterhalten. Diese Verlängerung gibt dem Unternehmen mehr Zeit, um seine Aktienpreisprobleme anzugehen und seine NASDAQ-Notierung aufrechtzuerhalten.
- Received 180-day extension from NASDAQ for minimum bid price compliance
- Additional time to address stock price issues and maintain NASDAQ listing
- Current stock price below NASDAQ's $1.00 minimum bid requirement
- Risk of potential delisting if compliance is not achieved by April 7, 2025
Insights
The NASDAQ extension for Abits Group Inc is a double-edged sword. While it provides temporary relief from potential delisting, it also signals ongoing financial challenges. The company's inability to maintain a
This extension is not uncommon for smaller cap companies, especially in volatile sectors like cryptocurrency mining. However, it puts significant pressure on ABTS to improve its financial performance or consider alternative measures such as a reverse stock split. The 180-day window is important for the company to demonstrate value to investors and regain compliance.
Investors should closely monitor ABTS's strategic moves in the coming months, including potential capital raises, operational improvements, or corporate restructuring. The bitcoin mining sector's cyclical nature and regulatory uncertainties add layers of complexity to the company's path forward.
Hong Kong, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Abits Group Inc (the “Company”) (NASDAQ: ABTS), a company engaged in bitcoin mining and related services in the United States, announced today on October 10, 2024, it received notification from The Nasdaq Stock Market LLC (“NASDAQ”) confirming the Company has been granted an additional 180 calendar day period for compliance under its minimum bid price requirement through April 7, 2025. To regain compliance with NASDAQ’s minimum bid price requirement, the closing bid price of the Company’s common shares needs to be at least
About Abits Group Inc
Abits Group Inc (formerly Moxian (BVI) Inc), a company organized in the British Virgin Islands in May 2021, is the surviving company following its merger with Moxian, Inc. in August 2021. Abits Group Inc is a new generation digital company, with self-mining operations in the State of Tennessee through a wholly owned subsidiary, ABIT USA, Inc.
Forward-Looking Statements
This announcement contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934 as amended. These forward-looking statements are based on the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and may be governed by terms such as “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” Believe, “estimate”, “potential”, “continue”, “in progress”, “goal”, “guidance expectations” and similar statements are identified. The company may also include in its periodic reports to the US Securities and Exchange Commission (“SEC”), annual reports to shareholders, press releases and other written materials, as well as oral statements from third parties to the company’s management, directors or employees. Any statements that are not historical facts, including statements about the company’s philosophy and expectations, are forward-looking statements that involve factors, risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These factors and risks include, but are not limited to, the following: company’s goals and strategies; future business development; financial status and operating results; expected growth of bitcoin mining industry and Internet media marketing industry; demand and acceptance of the company’s products and services; the relationship between the company and strategic partners; industry competition; and policies and regulations related to the company’s structure, business and industry. More detailed information about these and other risks and uncertainties is included in the company’s filings with the Securities and Exchange Commission. All information provided in the company’s introduction is the latest information as of the date of publication of the company. Except as provided by applicable law, the company is not obligated to update such information.
For further information, please contact:
Wanhong Tan
Chief Financial Officer
+852 9855 6575
yf@abitgrp.com
FAQ
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