Luokung Announces Receipt of Nasdaq Notices Regarding the Periodic Filing
Luokung Technology Corp. (NASDAQ: LKCO) has addressed compliance issues with Nasdaq regarding periodic filing requirements. The company initially received a notice on January 9, 2025, for failing to file Form 6-K containing interim financial statements for June 30, 2024, violating Nasdaq Listing Rule 5250(c)(2). Following the company's submission of its semi-annual report on January 10, 2025, Nasdaq confirmed in a second letter dated January 13, 2025, that LKCO had regained compliance with the listing rule.
Luokung operates as a spatial-temporal intelligent big data services company and provides LBS and HD Maps services in China. The company specializes in HD Maps and multi-sourced intelligent spatial-temporal big data, serving industries including smart transportation, natural resource asset management, and LBS smart industry applications.
Luokung Technology Corp. (NASDAQ: LKCO) ha affrontato questioni di conformità con il Nasdaq riguardo ai requisiti di deposito periodico. La società ha inizialmente ricevuto una notifica il 9 gennaio 2025 per non aver presentato il Modulo 6-K contenente i bilanci intermedi al 30 giugno 2024, violando la Regola di Quotazione 5250(c)(2) del Nasdaq. Dopo la presentazione del rapporto semestrale da parte della società il 10 gennaio 2025, il Nasdaq ha confermato in una seconda lettera datata 13 gennaio 2025 che LKCO aveva riacquistato la conformità con la regola di quotazione.
Luokung opera come una società di servizi di big data intelligenti spaziotemporali e fornisce servizi LBS e mappe HD in Cina. L'azienda si specializza in mappe HD e big data spaziotemporali intelligenti multifonte, servendo settori tra cui trasporti intelligenti, gestione delle risorse naturali e applicazioni dell'industria LBS intelligente.
Luokung Technology Corp. (NASDAQ: LKCO) ha abordado problemas de cumplimiento con Nasdaq en relación a los requisitos de presentación periódica. La empresa recibió inicialmente un aviso el 9 de enero de 2025 por no presentar el Formulario 6-K que contenía estados financieros interinos al 30 de junio de 2024, violando la Regla de Cotización 5250(c)(2) de Nasdaq. Tras la presentación de su informe semestral el 10 de enero de 2025, Nasdaq confirmó en una segunda carta con fecha del 13 de enero de 2025 que LKCO había recuperado el cumplimiento de la regla de cotización.
Luokung opera como una empresa de servicios de big data inteligente espaciotemporal y ofrece servicios de LBS y mapas HD en China. La compañía se especializa en mapas HD y big data espaciotemporales inteligentes de múltiples fuentes, sirviendo a industrias que incluyen transporte inteligente, gestión de activos de recursos naturales y aplicaciones de la industria LBS inteligente.
루오쿵 테크놀로지 코프. (NASDAQ: LKCO)는 Nasdaq의 정기 제출 요구사항에 대한 준수 문제를 해결했습니다. 회사는 2025년 1월 9일에 2024년 6월 30일 기준의 중간 재무제표를 포함한 Form 6-K를 제출하지 않아서 Nasdaq 상장 규칙 5250(c)(2)를 위반했다는 통지를 처음으로 받았습니다. 회사가 2025년 1월 10일에 반기 보고서를 제출한 후, Nasdaq은 2025년 1월 13일자 두 번째 서신에서 LKCO가 상장 규칙 준수 상태를 회복했다고 확인했습니다.
루오쿵은 공간-시간 지능형 빅 데이터 서비스 회사로 운영되며 중국에서 LBS 및 HD 맵 서비스를 제공합니다. 이 회사는 HD 맵과 다원 출처의 지능형 공간-시간 빅 데이터에 특화되어 있으며, 스마트 교통, 자연 자원 자산 관리 및 LBS 스마트 산업 응용 프로그램 등 다양한 산업에 서비스를 제공합니다.
Luokung Technology Corp. (NASDAQ: LKCO) a abordé des problèmes de conformité avec le Nasdaq concernant les exigences de dépôt périodique. L'entreprise a d'abord reçu un avis le 9 janvier 2025 pour ne pas avoir déposé le Formulaire 6-K contenant des états financiers intermédiaires au 30 juin 2024, enfreignant la Règle d'inscription 5250(c)(2) du Nasdaq. Suite à la soumission de son rapport semestriel le 10 janvier 2025, le Nasdaq a confirmé dans une deuxième lettre datée du 13 janvier 2025 que LKCO avait retrouvé la conformité avec la règle d'inscription.
Luokung opère en tant qu'entreprise de services de big data intelligent spatio-temporel et fournit des services LBS et cartes HD en Chine. L'entreprise se spécialise dans les cartes HD et les big data spatio-temporels intelligents provenant de multiples sources, servant des secteurs tels que le transport intelligent, la gestion des ressources naturelles et les applications industrielles intelligentes LBS.
Luokung Technology Corp. (NASDAQ: LKCO) hat Compliance-Probleme mit Nasdaq in Bezug auf die Anforderungen an die regelmäßige Einreichung angesprochen. Das Unternehmen erhielt zunächst am 9. Januar 2025 eine Mitteilung, dass es das Formular 6-K mit den Zwischenabschlüssen zum 30. Juni 2024 nicht eingereicht hatte, was gegen die Nasdaq-Listingregel 5250(c)(2) verstieß. Nach der Einreichung des halbjährlichen Berichts am 10. Januar 2025 bestätigte Nasdaq in einem zweiten Schreiben vom 13. Januar 2025, dass LKCO die Konformität mit der Listingregel wiedererlangt hatte.
Luokung agiert als Unternehmen für räumlich-zeitliche intelligente Big-Data-Dienste und bietet LBS- und HD-Karten-Dienste in China an. Das Unternehmen ist auf HD-Karten und multi-quelle intelligente räumlich-zeitliche Big Data spezialisiert und bedient Branchen wie intelligente Verkehrssysteme, Management von natürlichen Ressourcen und LBS-Intelligent Industry-Anwendungen.
- Regained Nasdaq compliance by filing required financial statements
- Quick resolution of compliance issue within one day of first notice
- Failed to file Form 6-K with June 2024 financial statements on time
- Received non-compliance notice from Nasdaq
Insights
The dual Nasdaq notices regarding Luokung's periodic filing compliance represent a critical regulatory event for this micro-cap company (
For micro-cap companies, maintaining listing compliance is important for market credibility and access to capital. The temporary non-compliance, while resolved, may indicate potential resource constraints or internal control weaknesses in financial reporting processes. With such a small market capitalization, even minor disruptions in regulatory compliance can significantly impact investor confidence and trading liquidity.
Key points for investors: 1) The rapid remediation suggests functional management responsiveness to regulatory requirements, 2) The incident highlights the need for stronger internal controls around periodic reporting and 3) Continued monitoring of future filing deadlines is warranted given the company's size and resources.
BEIJING, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Luokung Technology Corp. (NASDAQ: LKCO) (“Luokung” or the “Company”) today announced that on January 9, 2025 (the “First Letter”) and January 13, 2025 (the “Second Letter”), the Company received two letters from the Nasdaq Stock Market LLC (“Nasdaq”).
The First Letter notified the Company that it has failed to file a foreign report on Form 6-K (the “Form 6-K”) containing an interim balance sheet and income statement as of June 30, 2024, which is in contravention of Nasdaq Listing Rule 5250(c)(2) (the “Rule”).
On January 10, 2025, the Company filed its semi-annual report on the Form 6-K (the “Semi-Annual Report”). The Second Letter notified the Company that since the Semi-Annual Report furnished an interim balance sheet and income statement as of the end of the Company’s second quarter, the Company has regained the compliance under the Rule.
ABOUT LUOKUNG TECHNOLOGY CORP.
Luokung Technology Corp. is a leading spatial-temporal intelligent big data services company, as well as a leading provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies and expertise in HD Maps and multi-sourced intelligent spatial-temporal big data, Luokung has established city-level and industry-level holographic spatial-temporal digital twin systems and actively serves industries including smart transportation (autonomous driving, smart highway and vehicle-road collaboration), natural resource asset management (carbon neutral and environmental protection remote sensing data service), and LBS smart industry applications (mobile Internet LBS, smart travel, smart logistics, new infrastructure, smart cities, emergency rescue, among others). The Company routinely provides important updates on its website: https://www.luokung.com.
CONTACT:
The Company:
Mr. Jian Zhang
Chief Financial Officer
Tel: +86-10-6506-5217
Email: ir@luokung.com
FAQ
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