QINGDAO, China, Aug. 19, 2019 /PRNewswire/ -- TDH Holdings, Inc.
(PETZ) (the "Company"), a PRC-based
company that specializes in the development, manufacturing and
sales of various pet food products under multiple established
brands in China, Asia and Europe, today announced that it had received
written notice from Nasdaq that the Company has regained compliance
with the minimum bid price continued listing requirement. The
Company regained compliance with this requirement as a result of
its common shares' closing bid price having been at or above the
minimum requirement of $1.00 per
share for a minimum of ten consecutive trading days.
The Company is scheduled to appear before the Nasdaq Hearings
Panel on August 22, 2019 to address
another continued listing deficiency pertaining to the Company's
inability to maintain compliance with a minimum of $2.5 million in stockholders' equity for
continued listing on the Nasdaq Stock Market as required under
Listing Rule 5550(b)(1). There can be no assurance that, following
the hearing, the Panel will grant the Company's request for
additional time to regain compliance with the remaining Nasdaq
continued listing requirement. If the Panel does not grant the
Company's request for additional time, the Company's securities
will be subject to delisting. If the Company is delisted from the
Nasdaq Capital Market, its common shares may be traded
over-the-counter on the OTC Bulletin Board or in the "pink sheets"
if one or more market makers seeks and obtains approval by the
Financial Industry Regulatory Authority to continue quoting in the
Company's common shares. Many over-the-counter stocks trade less
frequently and in smaller volumes than securities traded on the
Nasdaq markets, which would likely have a material adverse effect
on the liquidity and value of the Company's common shares.
About TDH Holdings, Inc.
Founded in April 2002, TDH
Holdings, Inc. is a developer, manufacturer and distributer of a
variety of pet food products under multiple brands that are sold in
the China, Asia and Europe. More information about the Company can
be found at www.tiandihui.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release are forward-looking
statements that involve a number of risks and uncertainties,
including statements relating to the Company's ability to regain
compliance with the Nasdaq listing requirements. Actual events or
results may differ materially from the Company's expectations.
Factors that could cause actual results to differ materially from
those stated or implied by the Company's forward-looking statements
are disclosed in its filings with the Securities and Exchange
Commission. These forward-looking statements represent the
Company's judgment as of the time of this release. The Company
disclaims any intent or obligation to update these forward-looking
statements, other than as may be required under applicable law.
SOURCE TDH Holdings, Inc.