Welcome to our dedicated page for Akso Health Group ADS news (Ticker: AHG), a resource for investors and traders seeking the latest updates and insights on Akso Health Group ADS stock.
Akso Health Group (NASDAQ: AHG), formerly known as Xiaobai Maimai Inc., operates a social e-commerce platform in China. This platform collaborates with other domestic e-commerce businesses, offering users a wide selection of high-quality and affordable products. The company is divided into two main segments: online marketplace and health devices. The health devices segment generates the majority of the company's revenue, showcasing its significance in their business model.
Since late 2021, Akso Health Group has ventured into the healthcare equipment and product trading market, alongside providing related healthcare services. One of the company's notable moves is its recent investment in Deyihui, an online clinic based in China. This strategic investment aims to tap into the burgeoning market for virtual consultations, with plans to expand beyond China if results are satisfactory.
Financially, Akso Health Group has faced some challenges. As of February 28, 2023, the company received a notification from the Nasdaq Listing Qualifications Staff indicating non-compliance with the minimum stockholders' equity requirement of $10 million. The company's equity was reported to be approximately $9.9 million as of September 30, 2022. Despite this, Nasdaq has granted them a compliance period until October 23, 2023, to regain adherence to the minimum bid price rule.
Akso Health Group continues to monitor its stock and intends to resolve these deficiencies within the provided timeline. Their robust engagement in developing Internet smart healthcare services and their ambition to build a comprehensive medical technology platform signify their forward-thinking approach and resilience.
For more information, please visit Akso Health Group.
Akso Health Group (NASDAQ: AHG) announced it received a notification from Nasdaq on February 28, 2023, indicating it is non-compliant with the minimum stockholders' equity requirement of $10 million. As of September 30, 2022, Akso reported approximately $9.9 million in stockholders' equity. While this notification does not immediately affect its listing, Akso has until April 14, 2023, to propose a compliance plan. If accepted, Nasdaq may grant an extension of up to 180 days, extending the compliance deadline to August 27, 2023.
Akso continues to operate within the social e-commerce and healthcare equipment sectors, previously known as Xiaobai Maimai.
Akso Health Group (NASDAQ: AHG) announced that it received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement of US$1.00 per share, effective from October 26, 2022. The company's shares had fallen below this threshold for 30 consecutive business days. Akso Health has until April 24, 2023, to regain compliance. The company is exploring options like a reverse share split but asserts that its business operations remain unaffected. Furthermore, Nasdaq accepted the company’s plan for compliance regarding the delinquent filing of its Annual Report on Form 20-F.
Akso Health Group (NASDAQ: AHG) announced it received a notification from Nasdaq on August 16, 2022, for not complying with timely filing requirements, as it has not filed its Annual Report on Form 20-F for the fiscal year ended March 31, 2022. The Company has 60 days to address this deficiency or submit a plan to regain compliance by October 17, 2022. The notification does not affect the Company's business operations. Akso Health also plans to expand into cancer therapy services, including opening 100 radiation oncology centers in the U.S.
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