Luokung Technology (LKCO) said Friday it received two letters from Nasdaq, with the first confirming the company's compliance with the periodic filing rule and the second stating that it no longer meets the minimum stockholders' equity requirement.
The first letter confirmed that Luokung regained compliance with the exchange's periodic filing requirements after filing its annual report for the year ended Dec. 31, 2023, on Tuesday, according to the company.
However, the second letter stated that Luokung no longer meets the minimum stockholders' equity requirement of $2.5 million for continued listing.
The company said it plans to submit a plan to regain compliance within the 45-day deadline.
Shares of Luokung Technology were down nearly 1% in after-hours trading.
Price: 2.1200, Change: -0.02, Percent Change: -0.93
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