QMMM Holdings Limited Announces to receive Nasdaq Minimum Bid Price Deficiency Letter

Rhea-AI Summary

QMMM Holdings (Nasdaq: QMMM), a Hong Kong-based digital media advertising and virtual technology company, has received a Nasdaq minimum bid price deficiency notice on February 26, 2025. The notification comes as the company's stock failed to maintain the required minimum bid price of $1 per share from January 8 to February 25, 2025.

Nasdaq has granted QMMM a 180-day compliance period until August 25, 2025 to regain compliance. If unsuccessful, the company may be eligible for an additional 180-day extension, provided it meets other listing requirements and demonstrates intention to resolve the deficiency, potentially through a reverse stock split. The company is evaluating options but cannot guarantee successful compliance achievement.

Positive

• 180-day compliance period granted
• Possibility of additional 180-day extension

Negative

• Stock trading below $1 minimum requirement
• Risk of Nasdaq delisting if compliance not achieved
• Potential need for reverse stock split

HONG KONG, Feb. 28, 2025 /PRNewswire/ -- QMMM Holdings Limited (Nasdaq: QMMM) (the "Company" or "QMMM Holdings"), a digital media advertising, virtual avatar & virtual apparel technology service provider in Hong Kong, today announced that on February 26, 2025, the Company received a letter from the Listing Qualifications staff of The Nasdaq Stock Market ("Nasdaq") notifying the Company that based on the closing bid price of the Company for the period from January 8, 2025 to February 25, 2025, the Company no longer meets the continued listing requirement of Nasdaq under Nasdaq Listing Rules 5550(a)(2), to maintain a minimum bid price of $1 per share.

Nasdaq has provided the Company with an 180 calendar days compliance period, or until August 25, 2025, in which to regain compliance with Nasdaq continued listing requirement. In the event that the Company does not regain compliance in the compliance period, the Company may be eligible for an additional 180 calendar days, should the Company meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and is able to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. However, if it appears that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that the Company's securities will be subject to delisting.

The Company is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq's continued listing requirement. Although the Company will use all reasonable efforts to achieve compliance with Rule 5550(a)(2), there can be no assurance that the Company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq continued listing requirement. 

About QMMM Holdings Limited

QMMM Holdings is an award-winning digital advertising and marketing production services company.

More information about the Company can be found at: https://www.qmmm.io/ 

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events 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," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any 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 registration statement and other filings with the SEC, which are available for review at www.sec.gov.

For more information, please contact:

QMMM Holdings Limited
Phone: +852 3549 6889
Email: info@qmmm.io

View original content:https://www.prnewswire.com/news-releases/qmmm-holdings-limited-announces-to-receive-nasdaq-minimum-bid-price-deficiency-letter-302388462.html

SOURCE QMMM HOLDINGS LIMITED

FAQ

What is the deadline for QMMM Holdings to meet Nasdaq's minimum bid price requirement?

QMMM has until August 25, 2025 to regain compliance with the $1 minimum bid price requirement.

What happens if QMMM stock doesn't reach $1 by the August 2025 deadline?

QMMM may receive an additional 180-day extension if it meets other listing requirements and shows plans to cure the deficiency, or face potential delisting.

What caused QMMM Holdings to receive the Nasdaq deficiency notice?

QMMM's stock price remained below $1 per share from January 8 to February 25, 2025, violating Nasdaq's minimum bid price requirement.

What options does QMMM have to regain Nasdaq compliance?

QMMM can attempt to naturally increase its stock price or implement a reverse stock split to meet the $1 minimum bid requirement.