LKCO News & Events

Luokung Technology announced that on January 9 and January 13, 2025 he Company received two letters from the Nasdaq Stock Market .The First Letter notified the Company that it has failed to file a foreign report on Form 6-K containing an interim balance sheet and income statement as of June 30 which is in contravention of Nasdaq Listing Rule 5250 . On January 10 he Company filed its semi-annual report on the Form 6-K . The Second Letter notified the Company that since the Semi-Annual Report furnished an interim balance sheet and income statement as of the end of the Company's second quarter, the Company has regained the compliance under the Rule.

Luokung Technology announced that the company received two letters from Nasdaq. The first letter notified the company that, based on the filing of its Form 20-F for the year ended December 31, 2023, the company has regained compliance with Nasdaq Listing Rule 5250(c)(1) regarding periodic filing requirements. Accordingly, Nasdaq considers this matter closed. The second letter notified the company that it no longer complies with the minimum stockholders' equity of $2.5M for continued listing on the Nasdaq Capital Market under Listing Rule 5550(b)(1) and the company does not meet the alternatives of market value of listed securities or net income from continuing operations. These determinations are based on information reported in the 2023 20-F.

Luokung Technology received a letter from the Nasdaq Stock Market notifying the Company that it has regained compliance with the Nasdaq Capital Market's minimum bid price requirement. The letter noted that as of September 30, 2024, the Company evidenced a closing bid price of its ordinary shares at or greater than the $1.00 per share minimum requirement for 10 consecutive business days. Nasdaq stated that accordingly, Luokung has regained compliance with Nasdaq Marketplace Rule 5550(a)(2), and Nasdaq considers the matter closed.

Luokung Technology reported that it expects to implement an 8-to-1 share combination on its ordinary shares effective Tuesday, September 17, with trading to begin on a split-adjusted basis at the market open on that day. Trading in the ordinary shares will continue on the Nasdaq. The share combination at a ratio of 8-to-1 shares was approved by the company's board of directors.