QINGDAO, China, Jan. 14, 2019 /PRNewswire/ -- TDH Holdings, Inc.
(NASDAQ: PETZ), 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 on
January 7, 2019, the Company received
a notification letter from Nasdaq Listing Qualifications advising
the Company that based upon the closing bid price for the Company's
common shares for the past 30 consecutive business days, the
Company no longer met the minimum $1.00 per share Nasdaq continued listing
requirement set forth in Nasdaq Listing Rule 5555(a)(2). The
notification also stated that the Company would be provided 180
calendar days, or until July 8, 2019,
to regain compliance with the foregoing listing requirement. To do
so, the bid price of the Company's common stock must close at or
above $1.00 per share for a minimum
of 10 consecutive business days prior to that date.
If the Company does not regain compliance by the compliance
deadline, the Company may be eligible for additional time to regain
compliance. To qualify, the Company will be required to 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 will need to provide written notice of its intention to cure
the deficiency during the second compliance period, by effecting a
reverse stock split, if necessary. If the Company meets these
requirements, the Nasdaq staff will inform the Company that it has
been granted an additional 180 calendar days. However, if it
appears to the Nasdaq staff that the Company will not be able to
cure the deficiency, or if the Company is otherwise not eligible,
the staff will provide notice that its securities will be subject
to delisting.
The Company provides no assurance that its common shares will
trade at levels necessary to regain and maintain compliance with
the above-referenced bid price rule before the compliance deadline.
The Company intends to continue to monitor the bid price for its
common stock. If the Company's common shares do not trade at a
level that is likely to regain compliance with the Nasdaq
requirements, the Company's Board of Directors will consider other
options that may be available to achieve compliance.
About TDH Holdings, Inc.
Founded in April 2002, TDH
Holdings, Inc. (the "Company") (NASDAQ: PETZ), 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.
For more information, please contact:
Tony Tian,
CFA
Weitian Group LLC
Email: ttian@weitianco.com
Phone: +1-732-910-9692
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SOURCE TDH Holdings, Inc.