subslover
1 day ago
CNEY Receives NASDAQ Minimum Bid Price Requirement Extension
LISHUI, China, Dec. 3, 2024 /PRNewswire/ -- CN Energy Group. Inc. (NASDAQ: CNEY) ("CNEY" or the "Company") today announced that on November 26, 2024, the Company received a written notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, while the Company has not regained compliance with the minimum $1.00 bid price per share requirement (the "Minimum Bid Price Requirement"), Nasdaq has determined that the Company is eligible for an additional 180 calendar day period, or until May 27, 2025 (the "Second Compliance Period"), to regain compliance. Nasdaq's determination was based on (i) the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and (ii) the Company's written notice to Nasdaq of its intention to cure the deficiency during the Second Compliance Period by effecting a reverse stock split, if necessary.
If at any time during the Second Compliance Period, the closing bid price of the Company's Class A ordinary shares meets or exceeds US$1.00 per share for at least ten consecutive business days, Nasdaq will provide written confirmation of compliance, and this matter will be closed.
The Company intends to continue to actively monitor its compliance with the Minimum Bid Price Requirement and, as appropriate, will consider available options to resolve any deficiencies and regain compliance, including the implementation of a reverse share split, if necessary.
GhosTraderX
2 months ago
CNEY - $.61 - Volume coming in on a 6-K filing....
https://www.sec.gov/Archives/edgar/data/1780785/000147793224005953/cney_6k.htm
On September 25, 2024, CN Energy Group. Inc. (the โCompanyโ), through its wholly owned subsidiaries in China, Zhejiang CN Energy Technology Development Co., Ltd. (โZhejiang CN Energyโ) and Manzhouli CN Energy Technology Co., Ltd. (โManzhouli CN Energyโ), entered into a Share Transfer Agreement (the โAgreementโ) with Xinbaocheng Industrial Group Co., Ltd. (โXinbaochengโ). Pursuant to the Agreement, Zhejiang CN Energy agreed to transfer 90% of its equity in CN Energy Industrial Development Co., Ltd. (โCN Energy Developmentโ), and Manzhouli CN Energy agreed to transfer its 10% of equity in CN Energy Development to Shanghai Xinbaocheng Industrial Group Co., Ltd. (โXinbaochengโ) (the โTransferโ) for a total purchase price of RMB138,204,750.62 (approximately $19,690,929.15), which shall be paid by Xinbaocheng in installments according to the schedules set forth in the Agreement.