Farmmi Regains Compliance with NASDAQ Minimum Bid Price Requirement
Farmmi, Inc. (NASDAQ: FAMI) announced it has cured its bid price deficiency and regained compliance with Nasdaq's listing standards as of June 22, 2022. This notification resulted in the cancellation of a scheduled hearing before the Nasdaq Hearings Panel. Consequently, Farmmi's stock will continue to be listed and traded on Nasdaq, allowing the company to maintain its market presence. Founded in 1998, Farmmi specializes in the supply, processing, and retail of agricultural products, notably mushrooms.
- Regained compliance with Nasdaq listing standards.
- Cancellation of a scheduled hearing indicating no immediate concerns about the stock.
- None.
LISHUI, China, June 23, 2022 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agricultural products supplier in China, today announced that on June 22, 2022, it received notification from The Nasdaq Stock Market LLC ("NASDAQ") confirming the Company has cured the bid price deficiency, and that the Company is in compliance with all applicable listing standards. As a result, the scheduled hearing before the Nasdaq Hearings Panel has been cancelled. The Company's stock will continue to be listed and traded on The Nasdaq Stock Market.
About Farmmi, Inc.
Established in 1998, Farmmi Inc. (NASDAQ: FAMI) is an agricultural products supplier, processor and retailer of edible mushrooms like Shiitake and Mu Er, as well as other agricultural products. In addition to its offline sales, Farmmi sells its products direct-to-consumer at http://www.farmmi88.com. For further information about the Company, please visit: http://ir.farmmi.com.cn/.
Forward-Looking Statements
No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations and intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customer's businesses and our end purchaser's disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China, our ability to attract and retain skilled professionals, client concentration, industry segment concentration, and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Farmmi may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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SOURCE Farmmi, Inc.
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