BEIJING, July 28,
2022 /PRNewswire/ -- MMTEC, Inc. (NASDAQ Capital
Market: MTC) ("MMTEC" or the "Company"), a China-based technology company that provides
access to the U.S. financial markets, today announced
that that on July 27, 2022, it received a letter from the
Listing Qualifications Department of The Nasdaq Stock Market
LLC ("NASDAQ") confirming the Company has regained compliance
with NASDAQ's minimum bid price requirement under Listing Rule
5550(a)(2). The Company regained compliance with NASDAQ's
requirements when the closing bid price for the Company's common
stock was at or above $1.00 for 10 consecutive business
days and the matter is now closed.
About MMTEC, Inc.
Headquartered in Beijing,
China, our Company develops and deploys a series of
platforms, which comprise a business chain that enables Chinese
language speaking hedge funds, mutual funds, registered investment
advisors, proprietary trading groups, and brokerage firms to engage
in securities market transactions and settlements globally. In
2020, the company used internally designed and built system with
the US brokerage license and the Cayman fund management
qualification to form a series of MOM funds, with the main goal of
discovering small and medium-sized institutional investors and
helping them set up the fund to issue securities fund products.
More information about the Company can be found at:
www.haisc.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may", "will", "intend", "should", "believe", "expect",
"anticipate", "project", "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Specifically, the Company's statements
regarding its continued growth, business outlook, and other similar
statements are forward-looking statements. Forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; product and service demand and acceptance;
changes in technology; economic conditions; reputation and brand;
the impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China and assumptions underlying
or related to any of the foregoing and other risks contained in
reports filed by the Company with the Securities and Exchange
Commission, including the Company's most recently filed Annual
Report on Form 20-F and its subsequent filings. For these reasons,
among others, investors are cautioned not to place undue reliance
upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
U.S. Securities and Exchange Commission, which are available for
review at www.sec.gov. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof.
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SOURCE MMTEC, Inc.