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Hanryu Holdings, Inc. (NASDAQ: HRYU) is a pioneering media-tech company best known for its flagship social media platform, FANTOO. Designed to connect K-culture enthusiasts globally, FANTOO offers a unique digital arena where users can share their interests through innovative service offerings, applications, and websites.
FANTOO stands out by providing a global multi-media platform that allows users to interact with like-minded individuals, create and enjoy diverse content, and engage in commerce within a supportive community. This social platform fosters an appreciation for various types of entertainment and cultures, making it a distinctive hub for content creation and exchange.
Recently, Hanryu Holdings has achieved several notable milestones. On August 1, 2023, the company successfully launched its Initial Public Offering (IPO) on the Nasdaq, marking a significant milestone in its growth journey. To commemorate this achievement, Hanryu's CEO, Mr. Kang Chang Hyuk, rang the Nasdaq opening bell on October 26, 2023, symbolizing the company's strides in the global market.
Hanryu Holdings is also focused on expanding its strategic partnerships. The company has joined forces with the Asia Model Festival, sponsoring key events to enhance its brand recognition and user base. These initiatives highlight Hanryu's commitment to promoting Asian cultures and expanding its influence in the K-culture fandom.
Moreover, Hanryu has integrated cutting-edge artificial intelligence into FANTOO. The platform's AI feature, DeokGom, now offers personalized interactions and customized services to users. Partnering with SALTLUX, Hanryu leverages advanced AI technology to provide real-time news and personalized recommendations, enhancing user experience and engagement.
The financial performance of Hanryu Holdings has also been promising. As of the third quarter of 2023, the company's revenue reached $713,763, with a year-over-year increase of 49% for the first nine months. Despite reporting a net loss, the company maintains a robust cash position, ensuring continued growth and development of its platforms.
In summary, Hanryu Holdings, Inc. is at the forefront of the social media revolution, offering a unique platform that blends technology, culture, and community. With continuous innovations, strategic partnerships, and a strong financial foundation, Hanryu is poised to lead the K-culture fandom into a new era of digital engagement.
Hanryu Holdings (NASDAQ:HRYU) has received a delinquency compliance alert from Nasdaq due to its failure to timely file its Q2 2024 10-Q. This puts the company in non-compliance with Nasdaq's continued listing requirements under Rule 5250(c)(1). Hanryu has until September 4, 2024, to submit an updated plan to regain compliance.
This alert follows a previous notification on April 18, 2024, regarding the company's late filing of its 2023 Annual Report. Although Hanryu filed the 10-K on July 16, 2024, the company now has a maximum of 180 calendar days from the initial delinquent filing's due date (until October 14, 2024) to regain compliance with all subsequent delinquent filings.
Hanryu Holdings announced receiving a delinquency compliance alert notice from Nasdaq due to the company's failure to file its Quarterly Report for Q1 2024 and its Annual Report for 2023 on time. The notice, received on May 21, 2024, indicates non-compliance with Nasdaq's listing requirements, specifically Listing Rule 5250(c)(1). Hanryu has until June 17, 2024, to submit a compliance plan to Nasdaq. If accepted, the company could receive an extension until October 14, 2024. If the plan is rejected, Hanryu has the option to appeal to a Hearings Panel.
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