ChinaNet Online Holdings Regains Compliance with NASDAQ Minimum Bid Price Requirement
June 25 2020 - 7:30AM
ChinaNet Online Holdings, Inc. (Nasdaq: CNET) ("ChinaNet" or the
"Company"), an integrated online advertising, precision marketing,
and data-analysis and management services platform, today announced
that on June 23, 2020 it received a written notice from the Listing
Qualifications Staff of The NASDAQ Stock Market (“NASDAQ”) stating
that the Company has regained compliance with Nasdaq Listing Rule
5550(a)(2), which sets forth minimum bid price continued listing
requirement.
As previously disclosed, the Company had
previously been notified by NASDAQ on April 21, 2020 that it was
not in compliance with the minimum bid price requirement because
its common stock failed to maintain a minimum bid price of at least
$1.00 for 30 consecutive business days. In order to regain
compliance with Nasdaq Listing Rule 5550(a)(2), the Company was
required to meet or exceed a minimum closing bid price of at least
$1.00 per share for at least 10 consecutive business days, which
was achieved on June 22, 2020, as from June 9 to June 22, 2020, the
closing bid price of the Company’s common stock has been at $1.00
per share or greater. Accordingly, ChinaNet has regained compliance
with Listing Rule 5550(a)(2) and this matter is now closed.
About ChinaNet Online Holdings,
Inc.
ChinaNet Online Holdings, Inc., a parent company
of ChinaNet Online Media Group Ltd., incorporated in the BVI
(ChinaNet), is an integrated online advertising, precision
marketing and data-analysis and management services platform.
ChinaNet provides prescriptive analysis for its clients to improve
business outcomes and to create more efficient enterprises. The
Company leverages an optimization framework, provided by its
comprehensive data-analysis infrastructure, to blend data,
mathematical, and computational sciences into an outcome management
platform for which it monetizes on a per client basis. ChinaNet
uniquely optimizes and prescribes its clients decision making
processes based on its proprietary ecosystem. For more information,
visit www.chinanet-online.com.
Safe Harbor
Statement
This release contains certain "forward-looking
statements" relating to the business of ChinaNet Online Holdings,
Inc., which can be identified by the use of forward-looking
terminology such as "believes," "expects," "anticipates,"
"estimates" or similar expressions. Such forward-looking statements
involve known and unknown risks and uncertainties, including
business uncertainties relating to government regulation of our
industry, market demand, reliance on key personnel, future capital
requirements, competition in general and other factors that may
cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
Certain of these risks and uncertainties are or will be described
in greater detail in our filings with the Securities and Exchange
Commission. These forward-looking statements are based on
ChinaNet's current expectations and beliefs concerning future
developments and their potential effects on the Company. There can
be no assurance that future developments affecting ChinaNet will be
those anticipated by ChinaNet. These forward-looking statements
involve a number of risks, uncertainties (some of which are beyond
the control of the Company) or other assumptions that may cause
actual results or performance to be materially different from those
expressed or implied by such forward-looking statements. ChinaNet
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
Investor Relations
Contact
ICR, Inc.Xinran RaoTel: +1-646-308-1635Email:
CNET@icrinc.com
ZW Data Action Technolog... (NASDAQ:CNET)
Historical Stock Chart
From Mar 2024 to Apr 2024
ZW Data Action Technolog... (NASDAQ:CNET)
Historical Stock Chart
From Apr 2023 to Apr 2024