Farmmi Regains Compliance with NASDAQ Minimum Bid Price Requirement

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier based in China, announced on January 11, 2021, that it has regained compliance with NASDAQ's minimum bid price requirement under Listing Rule 5550(a)(2). NASDAQ confirmed that this matter is now closed, allowing the company to continue its trading on the exchange. Farmmi specializes in the supply, processing, and retail of Shiitake mushrooms and other agricultural products. The company is committed to following regulations and maintaining its listing status.

Positive

• Regained compliance with NASDAQ's minimum bid price requirement.
• Continues to trade on NASDAQ, ensuring investor confidence.

Negative

• None.

LISHUI, China, Jan. 12, 2021 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced that on January 11, 2021, it received notification from The Nasdaq Stock Market LLC ("NASDAQ") confirming the Company has regained compliance with NASDAQ's minimum bid price requirement under Listing Rule 5550(a)(2).  NASDAQ noted this matter is now closed.

About Farmmi, Inc.

Headquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is a leading agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible fungi, and many other sought-after agricultural products.  For further information about the Company, please visit: http://ir.farmmi.com.cn/.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including the potential impact of COVID-19 on our business within and outside of China.  These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

 

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SOURCE Farmmi, Inc.

FAQ

What did Farmmi announce on January 11, 2021?

Farmmi announced that it regained compliance with NASDAQ's minimum bid price requirement.

What is the significance of Farmmi's compliance with NASDAQ regulations?

Regaining compliance allows Farmmi to continue trading on NASDAQ and assures investors of its listing status.

What is Farmmi's primary business focus?

Farmmi specializes in the supply, processing, and retail of agricultural products, particularly Shiitake mushrooms.

What does NASDAQ Listing Rule 5550(a)(2) pertain to?

It relates to the minimum bid price requirement that companies must meet to remain listed on NASDAQ.

How does this compliance affect Farmmi's investors?

The compliance ensures that Farmmi can continue trading on NASDAQ, supporting investor confidence.