QINGDAO, China, Feb. 25, 2022 /PRNewswire/ -- TDH Holdings,
Inc. (NASDAQ: PETZ) ("TDH" or the "Company"), a PRC-based company
that specializes in the development, manufacturing and sales of pet
food products in China and beyond,
today announced on February 23, 2022, the Company received a
notification letter from Nasdaq Listing Qualifications advising the
Company that based upon the closing bid price for the Company's
common shares for the past 30 consecutive business days, the
Company no longer met the minimum $1.00 per share Nasdaq
continued listing requirement set forth in Nasdaq Listing Rule
5550(a)(2). The notification also stated that the Company would be
provided 180 calendar days, or until August 22, 2022, to
regain compliance with the foregoing listing requirement. To do so,
the bid price of the Company's common stock must close at or
above $1.00 per share for a minimum of 10 consecutive
business days prior to that date.
If the Company does not regain compliance by the compliance
deadline, the Company may be eligible for additional time to regain
compliance. To qualify, the Company will be required to meet the
continued listing requirement for market value of publicly held
shares and all other initial listing standards for The Nasdaq
Capital Market, with the exception of the bid price requirement,
and will need to provide written notice of its intention to cure
the deficiency during the second compliance period, by effecting a
reverse stock split, if necessary. If the Company meets these
requirements, the Nasdaq staff will inform the Company that it has
been granted an additional 180 calendar days. However, if it
appears to the Nasdaq staff that the Company will not be able to
cure the deficiency, or if the Company is otherwise not eligible,
the staff will provide notice that its securities will be subject
to delisting.
The Company provides no assurance that its common shares will
trade at levels necessary to regain and maintain compliance with
the above-referenced bid price rule before the compliance deadline.
The Company intends to continue to monitor the bid price for its
common shares. If the Company's common shares do not trade at a
level that is likely to regain compliance with the Nasdaq
requirements, the Company's Board of Directors will consider other
options that may be available to achieve compliance.
About TDH Holdings, Inc.
Founded in April 2002, TDH
Holdings, Inc. (the "Company") (NASDAQ: PETZ), is a developer,
manufacturer and distributer of a variety of pet food products
under multiple brands that are sold in China, Asia
and Europe. More information about
the Company can be found at www.tiandihui.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 ability to regain compliance with the
Nasdaq listing requirements 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; the
growth of the petfood industry in China and internationally; reputation and
brand; the impact of competition and pricing; government
regulations; fluctuations in general economic and business
conditions in China and
internationally 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. 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.
For more information, please contact:
Feng Zhang, CFO
Email: 770826183@qq.com
Phone: +86 183-1102-1983
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SOURCE TDH Holdings, Inc.