Yoshiharu Intends to Appeal Delisting Notice from Nasdaq
21 Février 2025 - 11:45PM
Yoshiharu Global Co. (NASDAQ: YOSH) ("Yoshiharu" or the
"Company"), a restaurant operator specializing in
authentic Japanese ramen & rolls, today announced that it has
received a notice of delisting from Nasdaq.
On February 18, 2025, the Company received a
notification letter (the “Letter”) from the Nasdaq Listing
Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC
(“Nasdaq”) notifying the Company that because it remains out of
compliance with Listing Rule 5550(b)(1), which requires that the
Company maintain stockholders’ equity of at least $2,500,000 for
continued listing, Nasdaq has scheduled the Company’s securities
for delisting from Nasdaq.
As previously reported on Form 8-K on August 23,
2024, the Company initially received a notification letter from the
Staff that the Company was not in compliance with Listing Rule
5550(b)(1). The Company was provided an opportunity to provide
Nasdaq with a specific plan to achieve and sustain compliance with
all Nasdaq listing requirements, which Nasdaq accepted such plan
for compliance provided that the Company achieved compliance by
February 17, 2025. However, the Company has not regained compliance
within the applicable timeframe and is not eligible for a further
period to regain compliance.
Under Nasdaq Listing Rule 5800 Series and as
stated in the Letter, the Company has until February 25, 2025 to
request a hearing to appeal the Staff’s determination. The Company
intends to request such a hearing to the appeal the
determination.
About Yoshiharu Global Co.
Yoshiharu is a fast-growing restaurant operator
and was born out of the idea of introducing the modernized Japanese
dining experience to customers all over the world. Specializing in
Japanese ramen, Yoshiharu gained recognition as a leading ramen
restaurant in Southern California within six months of its 2016
debut and has continued to expand its top-notch restaurant service
across Southern California and Las Vegas, currently owning and
operating 14 restaurants.
For more information, please visit
www.yoshiharuramen.com.
Forward Looking Statements
This press release includes certain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including without
limitation, statements regarding our position to execute on our
growth strategy, and our ability to expand our leadership position.
These forward-looking statements include, but are not limited to,
the Company's beliefs, plans, goals, objectives, expectations,
assumptions, estimates, intentions, future performance, other
statements that are not historical facts and statements identified
by words such as "expects", "anticipates", "intends", "plans",
"believes", "seeks", "estimates" or words of similar meaning. These
forward-looking statements reflect our current views about our
plans, intentions, expectations, strategies and prospects, which
are based on the information currently available to us and on
assumptions we have made. Although we believe that our plans,
intentions, expectations, strategies and prospects as reflected in,
or suggested by, these forward-looking statements are reasonable,
we can give no assurance that the plans, intentions, expectations
or strategies will be attained or achieved. Forward-looking
statements involve inherent risks and uncertainties which could
cause actual results to differ materially from those in the
forward-looking statements, as a result of various factors
including those risks and uncertainties described in the Risk
Factors and Management's Discussion and Analysis of Financial
Condition and Results of Operations sections of our filings with
the SEC including our Form 10-K for the year ended December 31,
2023, and subsequent reports we file with the SEC from time to
time, which can be found on the SEC's website at www.sec.gov. Such
risks, uncertainties, and other factors include, but are not
limited to: that there can be no assurance that the Company will
meet Nasdaq Listing Rule 5550(b)(1) during any compliance period or
otherwise in the future, that there can be no assurance that the
Company will otherwise meet Nasdaq compliance standards, and that
there can be no assurance that Nasdaq will grant the Company any
relief from delisting as necessary or whether the Company can agree
to or ultimately meet applicable Nasdaq requirements for any such
relief. We urge you to consider those risks and uncertainties in
evaluating our forward-looking statements. We caution readers not
to place undue reliance upon any such forward-looking statements,
which speak only as of the date made. The Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Investor Relations
Contact:Larry W HolubDirectorMZ North
AmericaYOSH@mzgroup.us 312-261-6412
Yoshiharu Global (NASDAQ:YOSH)
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