Earlyworks - ELWS STOCK NEWS

Earlyworks announces strategic organizational changes and market positioning in response to significant blockchain industry developments. The company has appointed a new Chief Operating Officer (COO) and Chief Development Officer (CDO) to strengthen its management framework. The company highlights three major market developments: President-elect Trump's pro-cryptocurrency stance, the upcoming Bitcoin halving event, and the approval of Bitcoin and Ethereum ETFs. Grid Ledger System (GLS), Earlyworks' proprietary blockchain technology, offers ultra-fast processing speeds of 0.2 seconds per transaction and eliminates cryptocurrency dependency for enterprise solutions.

Earlyworks (Nasdaq: ELWS) received a notification from NASDAQ on October 29, 2024, indicating non-compliance with the minimum Market Value of Listed Securities (MVLS) requirement. The company failed to maintain the required US$35 million MVLS threshold for 30 consecutive business days from September 17 to October 28, 2024. Earlyworks has been granted a 180-day compliance period until April 28, 2025, during which it must either achieve an MVLS of US$35 million for 10 consecutive business days or maintain shareholders' equity of at least US$2.5 million to avoid potential delisting.

Earlyworks Co., (NASDAQ: ELWS) has signed a business alliance agreement with CAICA DIGITAL Inc. to provide comprehensive support for Web3 projects. This partnership aims to capitalize on the growing global blockchain market, expected to reach $404.1 billion by 2030. The alliance will focus on enhancing Earlyworks' Grid Ledger System (GLS) and supporting the development of new businesses adopting CAICA's Web3 solutions.

The collaboration comes as Japan's blockchain market share, estimated at 10% of the global market in 2023, seeks to expand. Despite government initiatives like the "Web 3.0 Study Group," business adoption of blockchain in Japan remains This alliance aims to address this gap and promote Web3 ventures in the country.

Earlyworks Co. (NASDAQ: ELWS), a Japanese blockchain technology company, announced that it has regained compliance with Nasdaq's minimum bid price requirement.

The company received a notification from Nasdaq confirming that its ADSs traded above $1.00 per ADS for 20 consecutive business days from May 16, 2024, to June 14, 2024.

Previously, Nasdaq had determined on May 1, 2024, that Earlyworks had failed to meet the requirement, scheduling its securities for delisting unless an appeal was made. Earlyworks appealed on May 7, 2024, and was granted an exception until May 31, 2024. After demonstrating compliance, Nasdaq decided to continue listing Earlyworks' ADSs.

Earlyworks (Nasdaq: ELWS) and ZenmuTech have announced a collaboration to enhance digital security using secret splitting and blockchain technology. Earlyworks' GLS technology offers high-speed, tamper-resistant blockchain solutions, while ZenmuTech's secret splitting technology provides advanced data protection. This partnership aims to create a secure digital environment by combining these technologies, ensuring faster processing speeds and robust data security. The collaboration seeks to support the growing market for blockchain technology, which is projected to reach $404.1 billion globally by 2030.

Earlyworks Co. (Nasdaq: ELWS) has formed a business alliance with Relic to promote new business development using Web3 technology. This partnership integrates Earlyworks' blockchain technology, Grid Ledger System (GLS), with Relic’s expertise in new business creation. The collaboration aims to address issues such as brand damage risks, legal and financial challenges, and the technical complexities of blockchain. The global blockchain market is projected to grow significantly, from $10.6 billion in 2023 to $404.1 billion by 2030. Japan's blockchain market is also growing, with government initiatives promoting Web3 adoption. Through this alliance, Earlyworks aims to leverage Web3 technologies to maximize blockchain's potential globally and enhance business development in Japan.

Earlyworks announced the completion of a change in the ratio of its American Depositary Shares (ADSs) to ordinary shares. Effective May 16, 2024, the new ratio is one ADS representing five ordinary shares, instead of one ADS representing one share. This change aims to enhance liquidity and help meet Nasdaq's minimum bid price requirement. On the effective date, ADS holders with certificated shares were required to surrender them for cancellation and received one new ADS for every five old ones. Uncertificated ADSs were automatically exchanged. The company's ADSs continue trading under the ticker 'ELWS,' and no fractional new ADSs were issued. Instead, fractional entitlements were aggregated and sold, with net proceeds distributed to ADS holders.

Earlyworks Co., (Nasdaq: ELWS) has announced a change in the ratio of its American Depository Shares (ADS) to ordinary shares, effective May 16, 2024. The ratio will shift from one ADS representing one ordinary share to one ADS representing five ordinary shares, effectively acting as a one-for-five reverse ADS split. This change aims to support liquidity and help the company regain compliance with Nasdaq's minimum bid price requirement. ADS holders will undergo automatic exchanges or will be required to surrender their certificated ADSs for new ones. The company expects the ADS trading price to increase proportionally but cannot guarantee it. Earlyworks has also appealed a Nasdaq delisting determination, with a hearing set for June 18, 2024.

Earlyworks Co., (Nasdaq: ELWS) received a delisting determination from Nasdaq due to failure to meet the minimum bid price requirement. The company plans to request a hearing before the Nasdaq Hearings Panel to appeal the decision.