Color Star Technology Regains Compliance with Nasdaq Minimum Closing Bid Price Rule
Color Star Technology (Nasdaq: ADD) has successfully regained compliance with Nasdaq's minimum bid price requirement. The company received formal notification from Nasdaq confirming that it has met the listing rule 5550(a)(2), which requires maintaining a minimum bid price of $1.00 per share. This compliance was achieved after the company's Class A Ordinary Shares maintained a closing bid price of $1.00 or higher for 10 consecutive business days from November 15, 2024 to November 29, 2024.
Color Star Technology operates as an entertainment technology company, focusing on technology and AI applications in the entertainment industry through its subsidiaries Color Metaverse Pte. and CACM Group NY, Inc.
Color Star Technology (Nasdaq: ADD) ha ripristinato con successo il rispetto del requisito del prezzo minimo per le offerte di Nasdaq. L'azienda ha ricevuto una notifica formale da parte di Nasdaq che conferma di aver rispettato la regola di quotazione 5550(a)(2), che richiede di mantenere un prezzo minimo di offerta di $1,00 per azione. Questo rispetto è stato raggiunto dopo che le azioni ordinarie di Classe A dell'azienda hanno mantenuto un prezzo di chiusura di offerta di $1,00 o superiore per 10 giorni lavorativi consecutivi, dal 15 novembre 2024 al 29 novembre 2024.
Color Star Technology opera come una compagnia di tecnologia dell'intrattenimento, concentrandosi su applicazioni tecnologiche e di intelligenza artificiale nel settore dell'intrattenimento tramite le sue filiali Color Metaverse Pte. e CACM Group NY, Inc.
Color Star Technology (Nasdaq: ADD) ha recuperado con éxito el cumplimiento del requisito de precio mínimo de oferta de Nasdaq. La empresa recibió una notificación formal de Nasdaq confirmando que ha cumplido con la regla de cotización 5550(a)(2), que requiere mantener un precio mínimo de oferta de $1.00 por acción. Este cumplimiento se logró después de que las acciones ordinarias de Clase A de la empresa mantuvieron un precio de cierre de oferta de $1.00 o más durante 10 días hábiles consecutivos, desde el 15 de noviembre de 2024 hasta el 29 de noviembre de 2024.
Color Star Technology opera como una empresa de tecnología de entretenimiento, centrándose en aplicaciones tecnológicas y de IA en la industria del entretenimiento a través de sus subsidiarias Color Metaverse Pte. y CACM Group NY, Inc.
Color Star Technology (Nasdaq: ADD)는 Nasdaq의 최소 입찰가 요구 사항을 성공적으로 준수했습니다. 이 회사는 최소 입찰가를 주당 $1.00 이상 유지해야 하는 상장 규칙 5550(a)(2)를 충족했음을 확인하는 Nasdaq의 공식 통지를 받았습니다. 이 준수는 2024년 11월 15일부터 2024년 11월 29일까지 10일 연속으로 클래스 A 보통주가 $1.00 이상의 종가를 유지한 후 이루어졌습니다.
Color Star Technology는 자회사인 Color Metaverse Pte.와 CACM Group NY, Inc.를 통해 엔터테인먼트 산업에서 기술 및 AI 응용 프로그램에 집중하는 엔터테인먼트 기술 회사로 운영됩니다.
Color Star Technology (Nasdaq: ADD) a réussi à reconquérir la conformité avec l'exigence de prix minimum de Nasdaq. L'entreprise a reçu une notification formelle de Nasdaq confirmant qu'elle a respecté la règle de cotation 5550(a)(2), qui exige de maintenir un prix d'offre minimum de 1,00 $ par action. Cette conformité a été atteinte après que les actions ordinaires de Classe A de l'entreprise aient maintenu un prix de clôture d'offre de 1,00 $ ou plus pendant 10 jours de bourse consécutifs, du 15 novembre 2024 au 29 novembre 2024.
Color Star Technology opère en tant qu'entreprise de technologie de divertissement, se concentrant sur les applications technologiques et d'IA dans l'industrie du divertissement à travers ses filiales Color Metaverse Pte. et CACM Group NY, Inc.
Color Star Technology (Nasdaq: ADD) hat erfolgreich die Anforderungen von Nasdaq an den Mindestgebotspreis erfüllt. Das Unternehmen erhielt eine offizielle Mitteilung von Nasdaq, die bestätigt, dass es die Listing-Regel 5550(a)(2) einhält, die erfordert, dass ein Mindestgebotspreis von $1,00 pro Aktie aufrechterhalten wird. Diese Übereinstimmung wurde erreicht, nachdem die Class A Stammaktien des Unternehmens für 10 aufeinanderfolgende Geschäftstage von 15. November 2024 bis 29. November 2024 einen Schlusskurs von $1,00 oder höher beibehalten hatten.
Color Star Technology agiert als ein Unternehmen für Unterhaltungstechnologie, das sich über seine Tochtergesellschaften Color Metaverse Pte. und CACM Group NY, Inc. auf Technologie und KI-Anwendungen in der Unterhaltungsindustrie konzentriert.
- Regained Nasdaq listing compliance, eliminating delisting risk
- Successfully maintained share price above $1.00 for required period
- Previous trading below $1.00 indicates recent financial/market challenges
Insights
The regaining of Nasdaq compliance is a critical development for Color Star Technology, marking a significant turnaround in its market position. Meeting the
However, investors should note that while compliance has been restored, the company's fundamental business model in entertainment technology and AI applications still requires careful scrutiny. The stock's ability to maintain this price level will depend on the company's execution of its business strategy and market conditions. The resolution of the listing compliance issue removes one significant risk factor but doesn't address core operational challenges.
The entertainment technology sector is highly competitive and Color Star's ability to maintain Nasdaq compliance is a positive signal for market credibility. This development could help attract new investors who previously avoided the stock due to delisting concerns. The company's focus on metaverse and online entertainment aligns with current digital transformation trends, though its small market capitalization suggests market penetration.
The timing of this compliance achievement, coming at the end of 2024, positions the company more favorably for the upcoming year. However, the real test will be sustaining this momentum through continued business development and revenue growth. The metaverse and AI entertainment space remains speculative and maintaining investor confidence will require demonstrable progress in technology implementation and market adoption.
NEW YORK, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Color Star Technology Co., Ltd. (Nasdaq: ADD) (“Color Star” or the “Company”), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, announced today that it received a formal notification from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires the Company’s ordinary shares to maintain a minimum bid price of
The Nasdaq staff made this determination of compliance after the closing bid price of the Company’s Class A Ordinary Shares has been at
About Color Star Technology Co., Ltd.
Color Star Technology Co., Ltd. (Nasdaq: ADD) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The Company’s online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com and www.colorstar.investorroom.com.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally where ADD conducts its business; reputation and brand; the impact of competition and pricing; government regulations; the ability of Color Star to meet NASDAQ listing standards in connection with the consummation of the transaction contemplated therein; and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission by Color Star. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.
Contact
Color Star Investor Relations
Office Number No. 1003, 9th Floor,
7 World Trade Center, Suite 4621
New York NY 10007
Office: (212) 410-5186
Email ir@colorstarinternational.com
FAQ
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