NEW
YORK, Jan. 12, 2024 /PRNewswire/ -- ETAO
International Co. Ltd. announced today that it received a staff
determination – Delinquency letter (the "Letter"), on January 5, 2024, from the Listing Qualifications
Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the
Company has not yet filed its interim financial statements for the
period ended June 30, 2023 (the
"Filing"), it no longer complies with our Listing Rules (the
"Rules") for continued listing. Accordingly, this matter serves as
an additional basis for delisting the Company's securities from
The Nasdaq Stock Market.
Under Nasdaq rules, a Company that receives a delist
determination for delinquency, can request an appeal to a Hearings
Panel, pursuant to the procedures set forth in the Nasdaq Listing
Rule 5800 Series. The Company is working on a plan to present to
the Panel in an effort to regain compliance with the Listing Rules
and will have a Hearing on March 12,
2024. The Hearing Panel will review the request for an
extended stay and notify the Company of its conclusion as soon as
is practicable but in any event no later than 15 calendar days
following the deadline to request a further stay.
This announcement is made in compliance with Nasdaq Listing Rule
5810(b), which requires prompt disclosure of receipt of a
deficiency notification.
About ETAO International Group
ETAO International Group ("ETAO"), a Cayman
Islands company, aims to be the leading digital healthcare
group providing telemedicine, hospital care, primary care,
pharmacy, and health insurance covering all life stages of
patients. ETAO became a public company listed in Nasdaq through
merging with Mountain Crest Acquisition Corp. III (MCAE) on
Feb 21, 2023. "ETAO" brand means
"Best Medical Way" with transformative medical care and
unparalleled service. ETAO aims to provide best-in-class internet
medical services, such as artificial intelligence and big data
technologies, to improve health care delivery and quality in
specialized clinics and hospital settings. ETAO's is in the
process of building a platform that is seamlessly integrated based
on its ability to combine technology and health sciences.
Media Contact:
Wilson
Liu
Tel:347-306-5134, wilson.liu@etao.world
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SOURCE ETAO International Co., Ltd.