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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 Corp. (NASDAQ: LKCO) announced that its subsidiary, eMapgo Technologies, has secured a contract for the Changjiu Expressway smart highway project in Jiangxi Province, China. This project will involve the development of a 3D digital management system, enhancing traffic control and supporting smart transportation features such as lane navigation and V2X technology. The CEO expressed confidence that this project will positively impact the company's future business prospects in smart transportation.
Luokung Technology Corp. (NASDAQ: LKCO) announced that the U.S. Department of Defense has removed its designation as a Communist Chinese Military Company. This change means that Luokung is no longer subject to restrictions under Executive Order 13959. The company will also be re-included in the FTSE GEIS (Micro Cap) index on June 21, 2021. The CEO expressed optimism about the future growth of Luokung's spatial-temporal technology, particularly in the autonomous applications sector, and highlighted the strategic acquisition of eMapgo Technologies.
Luokung Technology Corp. (NASDAQ: LKCO) has filed its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the U.S. Securities and Exchange Commission (SEC). The report is available on the SEC's website. Shareholders can request a hard copy of the report free of charge by contacting the company's investor relations representatives.
Luokung specializes in interactive location-based services and big data processing technology, offering integrated data services aimed at supporting smart cities and industries.
Luokung Technology Corp. (NASDAQ: LKCO) announced that the U.S. District Court for the District of Columbia granted its motion for a preliminary injunction. This ruling prevents the Department of Defense from designating Luokung as a Communist Chinese military company under Executive Order 13959. Following the court's decision, Nasdaq has withdrawn its delisting letter, allowing Luokung's shares to continue trading on the NASDAQ. CEO Xuesong Song expressed gratitude for this prompt action, which protects shareholder interests.
Luokung Technology Corp. (NASDAQ: LKCO) announced that the United States District Court for the District of Columbia granted its motion for a preliminary injunction. This ruling prevents the Department of Defense and other government officials from enforcing restrictions on Luokung's operations related to its designation as a Community Chinese military company. As a result, Luokung is optimistic about its future and has contacted Nasdaq to reconsider its previous delisting decision. The company aims to reassure shareholders regarding its operational capabilities.
Luokung Technology Corp. (NASDAQ: LKCO) announced it has regained compliance with the Nasdaq Capital Market's minimum bid price requirement. As of April 8, 2021, the company's ordinary shares closed at or above the $1.00 minimum bid price for 20 consecutive business days, starting from March 11, 2021. The Nasdaq has confirmed that Luokung has complied with Rule 5550(a)(2), marking the matter as closed. This compliance reflects positively on the company's stock standing and may boost investor confidence moving forward.
Luokung Technology Corp. (NASDAQ: LKCO) has successfully acquired eMapgo Technologies, a prominent provider of navigation and electronic map services in China. This acquisition follows Luokung's recent financing, yielding gross proceeds of $120 million. eMapgo holds approximately 24% of China's in-dash navigation market share and possesses extensive geographic data with over 9 million kilometers mapped. The integration of eMapgo's capabilities with Luokung's big data technology aims to enhance services in autonomous driving and smart transportation, establishing a competitive edge in the market.
Luokung Technology Corp. (NASDAQ: LKCO) announced it has received confirmation from the OFAC regarding trading restrictions on its securities, which will take effect on May 8, 2021. The OFAC stated divestments are permitted until March 9, 2022. Luokung was designated as a 'Communist Chinese military company' by the DoD on March 9, 2021, amid prior inaccuracies in its name. Nasdaq has withdrawn its delisting notice, allowing trading to continue while Luokung pursues legal action against its CCMC designation.
Luokung Technology Corp. (NASDAQ: LKCO) has announced a Motion for Temporary Restraining Order (TRO) against the U.S. government. The motion challenges the Department of Defense's designation of Luokung as a Communist Chinese military company (CCMC) under Executive Order 13959. The company argues that this designation is unlawful and requests the court to prevent enforcement of the restrictions associated with it, which are set to take effect on March 15, 2021. Luokung believes it qualifies for exceptions under General License 1A, extending restrictions to May 27, 2021.
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