Welcome to our dedicated page for Luokung Technology Ordinary Shares news (Ticker: LKCO), a resource for investors and traders seeking the latest updates and insights on Luokung Technology Ordinary Shares stock.
Luokung Technology Corp (NASDAQ: LKCO) is a leading provider of mobile services and technology, specifically catering to the long-distance travel and railway Wi-Fi market in China. The company's primary product, the Luokuang platform, is a Location-based Service (LBS) social content and service distribution platform. It is designed to offer personalized and precise services to long-distance travelers, enhancing their travel experience both on the train and at their destination.
Luokung's offerings include a wide range of entertainment services such as video and audio streaming, digital reading material, games, and social services. These services aim to keep travelers engaged and entertained throughout their journey.
Recently, Luokung has focused on spatial-temporal intelligent big data services and the provision of high-definition maps (HD Maps) in China. This enables the company to support interactive LBS, providing users with real-time location data and mapping services.
However, on May 2, 2024, Luokung received a notice from NASDAQ indicating non-compliance with the requirements for continued listing due to the delayed filing of its annual report on Form 20-F for the year ended December 31, 2023. Despite this setback, Luokung remains committed to resolving this issue and continuing its provision of innovative services.
With its cutting-edge solutions and focus on enhancing the traveler experience, Luokung Technology Corp aims to play a significant role in China's travel and technology sectors.
Luokung Technology (NASDAQ: LKCO) received two notices from Nasdaq on October 23, 2024. The first notice confirmed the company's compliance with periodic filing requirements following its 2023 Form 20-F submission. The second notice indicated non-compliance with the minimum stockholders' equity requirement of $2.5 million, as the company reported ($63,228,280) in stockholders' equity for 2023.
The company has until December 9, 2024, to submit a compliance plan to Nasdaq. If accepted, Nasdaq may grant an extension until April 21, 2025, to demonstrate compliance. Luokung intends to submit a plan within the required timeframe, though acceptance is not guaranteed.
Luokung Technology Corp. (NASDAQ: LKCO) has regained compliance with Nasdaq's minimum bid price requirement. On October 1, 2024, the company received a letter from Nasdaq confirming that it had evidenced a closing bid price of its ordinary shares at or above $1.00 for 10 consecutive business days as of September 30, 2024. This fulfills the requirement set by Nasdaq Marketplace Rule 5550(a)(2).
Luokung is a leading spatial-temporal intelligent big data services company and provider of interactive location-based services (LBS) and high-definition maps (HD Maps) in China. The company specializes in city-level and industry-level holographic spatial-temporal digital twin systems, serving industries such as smart transportation, natural resource asset management, and LBS smart industry applications.
Luokung Technology Corp. (NASDAQ: LKCO) has announced an 8-to-1 share combination effective September 17, 2024. Key points include:
- Trading will begin on a split-adjusted basis on the Nasdaq Capital Market under the same symbol 'LKCO'
- New CUSIP number: G56981 114
- Every 8 shares will be combined into one share
- Fractional shares will be rounded up to the next whole number
- Par value per share will be $0.0001
- Total authorized ordinary shares remain at 1 billion
- No shareholder approval required
- Company to file amended M&A with British Virgin Islands Registry of Corporate Affairs
The share combination aims to uniformly affect all shareholders without altering percentage interests, except for fractional share adjustments.
Luokung Technology (NASDAQ: LKCO), a leading provider of LBS and HD Maps in China, announced that it received a notice from NASDAQ on May 2, 2024, for not timely filing its 2023 Annual Report on Form 20-F. The notice states non-compliance with NASDAQ Listing Rule 5250(c)(1). Luokung has until July 1, 2024, to submit a compliance plan. If accepted, NASDAQ may extend the deadline to October 28, 2024. This notice does not currently impact the listing of Luokung shares on NASDAQ. Luokung is a key player in spatial-temporal intelligent big data services, offering solutions for smart transportation, natural resource asset management, and LBS smart industry applications.
Luokung Technology Corp. (LKCO) has been granted a 180-day extension by Nasdaq to meet the minimum bid price requirement of $1.00 per share for 10 consecutive trading days. The company now has until October 28, 2024, to regain compliance. Failure to meet the requirement may result in delisting.
Luokung Technology Corp. (NASDAQ: LKCO) has entered into a share subscription agreement with CHINA ORIENT SMART ECOTECH INVESTMENT GROUP LIMITED, aiming to raise a total of USD 220 million through the issuance of 5,469,019 restricted ordinary shares. The investment will be executed in two installments: $22 million within 30 days, followed by $198 million within 60 days. CEO Xuesong Song emphasized the strategic support from COIG, particularly in sectors like autonomous driving and vehicle networking. The deal seeks to maximize shareholder value amidst a currently low market valuation, ensuring future growth and potential returns.
Luokung Technology Corp. (NASDAQ: LKCO) announced a 30-to-1 share combination effective March 22, 2023. This corporate action will automatically convert every 30 shares into one, rounding up any fractional shares to the nearest whole number. The share combination, approved by the board, will maintain each shareholder's percentage interest in the company's total shares. The new CUSIP number for the ordinary shares will be G56981 205. Luokung specializes in spatial-temporal intelligent big data services and HD Maps for various industries in China, supporting sectors like smart transportation and resource management.
Luokung Technology Corp. (NASDAQ: LKCO) has received a notice from Nasdaq regarding non-compliance with the minimum bid price requirement of $1.00 per share, leading to potential delisting. This notice, received on January 4, 2023, indicates that the Company must request a hearing before the Nasdaq Hearings Panel to avoid delisting. The Company previously faced similar issues in early 2022 and was granted extensions to regain compliance. Luokung's ability to continue trading on Nasdaq now depends on demonstrating compliance with the price requirement within a specified time frame.
Luokung Technology Corp. (NASDAQ: LKCO) has partnered with the PingYuan county government in Guangdong to provide comprehensive carbon sink project development and data services. Their new service model is projected to facilitate the trading of over 10 million tons of carbon assets within five years, generating revenues exceeding US$70 million. Utilizing advanced algorithms and multi-source data processing, Luokung aims to support local governments in achieving carbon neutrality and enhancing natural resource management. The company sees significant market potential in China's nearly 3,000 counties.
FAQ
What is the current stock price of Luokung Technology Ordinary Shares (LKCO)?
What is the market cap of Luokung Technology Ordinary Shares (LKCO)?
What does Luokung Technology Corp do?
What is the Luokuang platform?
What services does Luokung offer to travelers?
What recent notice did Luokung receive from NASDAQ?
What is the significance of Luokung's HD Maps?
How does Luokung enhance the travel experience?
What steps is Luokung taking to address the NASDAQ notice?
Where can I find real-time updates about Luokung Technology Corp?
What are the core products of Luokung Technology Corp?
Which market does Luokung primarily serve?
