Sichenzia Ross Ference Carmel LLP Represents DataSea Inc. on Regaining Compliance with the Shareholder Equity Requirement for Continued Listing on the Nasdaq Stock Market
Press Release – New York, NY – October 10, 2023 – In June 2023, the Company received a letter from Nasdaq indicating that the Company had not regained compliance with the Nasdaq Listing Rule 5550(b)(2) (the “MVLS Requirement”). On August 3, 2023, the Company appeared before a Nasdaq hearing panel and requested for additional time to regain compliance with the MVLS Requirement. On August 11, 2023, Nasdaq issued a letter to the Company, granting an extension to regain compliance with the MVLS Requirement by October 2, 2023.
On October 4, 2023, Nasdaq informed the Company that the Company has demonstrated compliance with the Equity Standard in Listing Rule 5550(b)(1) of The Nasdaq Stock Market, as required by the Panel’s decision dated August 11, 2023.
DataSea is a Nevada incorporated digital technology corporation engaged in converging and innovative business segments for intelligent acoustics and 5G messaging technology in China
Partner Huan Lou commented: “We are pleased with the outcome of the hearing and the resulting regaining of compliance. SRFC is dedicated to zealously representing our clients in order to help them obtain their objectives.”
Sichenzia Ross Ference Carmel LLP represented the Company before the Nasdaq hearing panel. The SRFC team was led by partners Huan Lou and David Manno.
