Color Star Technology Co., Ltd. (NASDAQ: CSCW) Regains Compliance with Nasdaq Listing Rules
Color Star Technology Co. (NASDAQ: CSCW) announced its compliance with Nasdaq Listing Rules following a 12-month monitoring period. The Nasdaq Panel concluded that the company's securities can continue to be listed, marking a positive outcome for CSCW. CEO Luke Lu expressed satisfaction with the decision, attributing it to operational performance and communication with investors. The matter is now closed, strengthening the company's position on the exchange.
- Regained compliance with Nasdaq Listing Rules.
- Continued listing of CSCW securities on Nasdaq.
- Positive operational performance contributing to compliance.
- None.
NEW YORK, April 26, 2021 /PRNewswire/ -- Color Star Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as "Color Star" or the "Company"), announced today that it has received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq"). The Company was informed that following a 12-month compliance monitoring period under a panel monitor pursuant to a decision of compliance with panel monitor dated April 16, 2020, the Company was currently in compliance with the applicable Nasdaq Listing Rules. The Panel has further determined to continue the listing of the Company's securities on Nasdaq, and the matter is now closed.
The CEO of Color Star, Mr. Luke Lu, commented: "We are very pleased with the Panel's decision to continue CSCW's listing on the Nasdaq stock exchange. Our operational performance during the past year, our active communications with the financial community, and Color Star's investor outreach have all contributed to Nasdaq's favorable decision of the Company's regaining compliance with Nasdaq's listing rules. We very much value our listing and we look forward to the benefits brought by our listing on Nasdaq to Color Star and our shareholders."
Forward-Looking Statement
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; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market in China and other countries where CSCW conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. 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.
For more information, please contact:
William Tu
Skyline Corporate Communications Group, LLC
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: wtu@skylineccg.com
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SOURCE Color Star Technology Co., Ltd.
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