PomDoctor Receives Nasdaq Deficiency Notice
PomDoctor announced that it has received a written notification from the staff of Nasdaq dated January 29, indicating that for the last 33 consecutive business days, the closing bid price of the company's American depositary shares was below the minimum bid price of $1.00 per share requirement set forth in Nasdaq Listing Rule 5450. The Deficiency Letter has no current effect on the listing or trading of the company's ADSs on Nasdaq. Pursuant to Nasdaq Listing Rule 5810, the company is provided with a compliance period of 180 calendar days, or until July 28, to regain compliance with Nasdaq's minimum bid price requirement. If at any time during the compliance period, the closing bid price of the company's ADSs is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide the company a written confirmation of compliance and the matter will be closed. In the event the company does not regain compliance by July 28, subject to the determination by the staff of Nasdaq, the company may be eligible for additional time. The deficiency letter will have no effect on the company's business operations, and the company will take all reasonable measures to regain compliance.
