HONG
KONG, Nov. 8, 2023 /PRNewswire/ -- MMTEC, Inc.
(NASDAQ: MTC) ("MMTEC", "we", "our" or the "Company"), a
China-based technology company
that provides access to the U.S. financial markets, today announced
that the Company received a notification letter (the "Notification
Letter") from the Listings Qualifications Department of The Nasdaq
Stock Market LLC ("Nasdaq") notifying the Company that it has
regained compliance with the Nasdaq's minimum bid price requirement
and that the matter is closed.
As previously disclosed, MMTec, Inc. (the "Company"), received a
deficiency letter from the Listing Qualifications Department (the
"Staff") of the Nasdaq Stock Market LLC ("Nasdaq") on June 27, 2023, indicating that the Company was
not in compliance with Nasdaq Rule 5550(a)(2) (the "Bid Price
Rule"), as the closing bid price for the Company's common stock had
been below $1.00 per share for the
preceding 30 consecutive business days. In accordance with the
Nasdaq Listing Rules, the Company was provided a compliance period
of 180 calendar days, or until December 26,
2023, to regain compliance with the Bid Price Rule.
On November 7, 2023, the Company
received a written notification from the Staff of Nasdaq, notifying
the Company that for the preceding 16 consecutive business days,
from October 16, 2023 to November 6, 2023, the closing bid price of the
Company's common stock was equal to or greater than the
$1.00 per share minimum requirement.
Accordingly, the Company has regained compliance with the Bid Price
Rule and the matter is closed.
About MMTEC, Inc.
Headquartered in Hong Kong Special Administrative Region, our
Company mainly focuses on investment banking and asset management
business, providing customers with one-stop and all-round financial
services.
More information about the Company can be found at:
www.haisc.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may", "will", "intend", "should", "believe", "expect",
"anticipate", "project", "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Specifically, the Company's statements
regarding its continued growth, business outlook, and other similar
statements are forward-looking statements. Forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; product and service demand and acceptance;
changes in technology; economic conditions; reputation and brand;
the impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China and assumptions underlying
or related to any of the foregoing and other risks contained in
reports filed by the Company with the Securities and Exchange
Commission, including the Company's most recently filed Annual
Report on Form 20-F and its subsequent filings. For these reasons,
among others, investors are cautioned not to place undue reliance
upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
U.S. Securities and Exchange Commission, which are available for
review at www.sec.gov. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof.
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SOURCE MMTEC,INC.