MDJM LTD Received Nasdaq Notification Letter Regarding Bid Price Deficiency
MDJM (Nasdaq: MDJH) received a notification from Nasdaq on October 23, 2024, indicating non-compliance with the minimum bid price requirement. The company's shares failed to maintain the required $1.00 minimum bid price for 30 consecutive business days from September 11 to October 22, 2024. MDJM has been granted 180 calendar days, until April 21, 2025, to regain compliance by achieving a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. If unsuccessful, the company may be eligible for an additional 180-day compliance period, potentially requiring a reverse stock split.
MDJM (Nasdaq: MDJH) ha ricevuto una notifica da Nasdaq il 23 ottobre 2024, indicando la non conformità con il requisito del prezzo minimo di offerta. Le azioni dell'azienda non sono riuscite a mantenere il prezzo minimo richiesto di $1.00 per 30 giorni lavorativi consecutivi, dal 11 settembre al 22 ottobre 2024. MDJM ha ricevuto 180 giorni di calendario, fino al 21 aprile 2025, per ripristinare la conformità raggiungendo un prezzo di chiusura di almeno $1.00 per un minimo di 10 giorni lavorativi consecutivi. In caso di insuccesso, l'azienda potrebbe avere diritto a un ulteriore periodo di conformità di 180 giorni, che potrebbe richiedere uno scorporo azionario inverso.
MDJM (Nasdaq: MDJH) recibió una notificación de Nasdaq el 23 de octubre de 2024, indicando el incumplimiento del requisito del precio mínimo de oferta. Las acciones de la compañía no lograron mantener el precio mínimo requerido de $1.00 durante 30 días hábiles consecutivos desde el 11 de septiembre hasta el 22 de octubre de 2024. MDJM ha sido otorgado 180 días calendario, hasta el 21 de abril de 2025, para recuperar la conformidad al alcanzar un precio de cierre de oferta de al menos $1.00 durante un mínimo de 10 días hábiles consecutivos. Si no tiene éxito, la compañía podría ser elegible para un período adicional de cumplimiento de 180 días, lo que podría requerir un desdoblamiento de acciones inverso.
MDJM (Nasdaq: MDJH)는 2024년 10월 23일에 나스닥으로부터 최소 입찰가 요건을 준수하지 않았다는 통지를 받았습니다. 회사의 주식은 2024년 9월 11일부터 10월 22일까지 30영업일 연속으로 요구되는 $1.00의 최소 입찰가를 유지하지 못했습니다. MDJM은 2025년 4월 21일 이전까지 최소 10영업일 동안 $1.00 이상의 마감 입찰가를 달성하여 준수를 회복할 수 있는 180일의 시간 초과를 부여받았습니다. 만약 기한 내에 성공하지 못할 경우, 회사는 추가적으로 180일의 준수 기간에 자격이 있을 수 있으며, 이는 역주식 분할을 필요로 할 수 있습니다.
MDJM (Nasdaq: MDJH) a reçu une notification de Nasdaq le 23 octobre 2024, indiquant un non-respect de l'exigence du prix d'offre minimum. Les actions de la société n'ont pas réussi à maintenir le prix d'offre minimum requis de 1,00 $ pendant 30 jours ouvrables consécutifs, du 11 septembre au 22 octobre 2024. MDJM a reçu 180 jours civils, jusqu'au 21 avril 2025, pour retrouver la conformité en atteignant un prix de clôture d'offre d'au moins 1,00 $ pendant un minimum de 10 jours ouvrables consécutifs. Si cela échoue, la société pourrait être éligible à une période de conformité supplémentaire de 180 jours, nécessitant potentiellement un regroupement d'actions.
MDJM (Nasdaq: MDJH) erhielt am 23. Oktober 2024 eine Benachrichtigung von Nasdaq, die auf die Nichterfüllung der Mindestgebotsanforderung hinweist. Die Aktien des Unternehmens konnten den erforderlichen Mindestgebotspreis von $1,00 in 30 aufeinanderfolgenden Geschäftstagen vom 11. September bis zum 22. Oktober 2024 nicht aufrechterhalten. MDJM wurde eine Frist von 180 Kalendertagen bis zum 21. April 2025 eingeräumt, um die Einhaltung wiederherzustellen, indem ein Schlussgebotspreis von mindestens $1,00 für mindestens 10 aufeinanderfolgende Geschäftstage erreicht wird. Wenn dies nicht gelingt, könnte das Unternehmen für einen zusätzlichen Zeitraum von 180 Tagen zur Einhaltung berechtigt sein, der möglicherweise einen Zusammenschluss von Aktien erfordert.
- Eligible for additional 180-day compliance period if initial deadline is not met
- Current Nasdaq listing remains unaffected during compliance period
- Failed to maintain minimum $1.00 bid price requirement for Nasdaq listing
- Risk of potential delisting if compliance is not achieved
- May need to implement reverse stock split to maintain listing
Insights
This Nasdaq compliance issue raises significant concerns about MDJM's market position. With a micro-cap status of just
LETHAM,
Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of
The Notification Letter does not impact the Company's listing on the Nasdaq Capital Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until April 21, 2025, to regain compliance with Nasdaq Listing Rule 5550(a)(2). If at any time during such 180-day period the closing bid price of the Company's ordinary shares is at least
If the Company does not regain compliance during such 180-day period, the Company may be eligible for an additional 180 calendar days, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq except for Nasdaq Listing Rule 5550(a)(2), and provides Nasdaq with a written notice of its intention to cure this deficiency during the second compliance period, by effecting a reverse stock split, if necessary.
About MDJM LTD
MDJM LTD is a global culture-driven asset management company focused on transforming historical properties into cultural hubs that blend modern digital technology with rich historical value. The Company is actively expanding its operations in the
Forward-Looking Statements
This announcement may contain forward-looking statements. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's annual report on Form 20-F and its other filings with the
Investor Contact:
Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
View original content:https://www.prnewswire.com/news-releases/mdjm-ltd-received-nasdaq-notification-letter-regarding-bid-price-deficiency-302287548.html
SOURCE MDJM LTD
FAQ
What is MDJH's deadline to regain Nasdaq compliance?
Why did MDJH receive a Nasdaq deficiency notice?