PLANO,
Texas, Dec. 6, 2022 /PRNewswire/ -- Dogness
(International) Corporation ("Dogness" or the "Company") (NASDAQ:
DOGZ), a developer and manufacturer of a comprehensive line of
Dogness-branded, OEM and private label pet products, today
announced that on December 2,
2022, it received a letter from The Nasdaq Stock Market LLC
("Nasdaq"), notifying the Company that it is currently not in
compliance with the minimum bid price requirement set forth under
Nasdaq Listing Rule 5550(a)(2) because the closing bid price of the
Company's Class A common shares was below $1.00 per share for 30 consecutive trading days.
This press release is issued pursuant to Nasdaq Listing Rule
5810(b), which requires prompt disclosure of receipt of a
deficiency notification. The notification has no immediate effect
on the listing of the Company's Class A common shares, which will
continue to trade uninterrupted on Nasdaq under the ticker
"DOGZ".
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a
compliance period of 180 calendar days, or until May 31, 2023 (the
"Compliance Period"), to regain compliance with Nasdaq's minimum
bid price requirement. If at any time during the Compliance Period,
the closing bid price per share of the Company's Class A common
shares is at least $1.00 for a minimum of 10 consecutive trading
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 with the
minimum bid price requirement by May 31,
2023, the Company may be eligible for an additional 180
calendar day grace period.
About Dogness
Dogness (International) Corporation was founded in 2003 from the
belief that dogs and cats are important, well-loved family members.
Through its smart products, hygiene products, health and wellness
products, and leash products, Dogness' technology simplifies pet
lifestyles and enhances the relationship between pets and pet
caregivers. The Company ensures industry-leading quality through
its fully integrated vertical supply chain and world-class research
and development capabilities, which has resulted in over 200
patents and patents pending. Dogness products reach families
worldwide through global chain stores and distributors. For more
information, please visit: ir.dogness.com.
Forward Looking Statements
No statement made in this press release should be interpreted as
an offer to purchase or sell any security. Such an offer can only
be made in accordance with the Securities Act of 1933, as amended,
and applicable state securities laws. Certain statements in this
press release concerning our future growth prospects are
forward-looking statements regarding our future business
expectations intended to qualify for the "safe harbor" under the
Private Securities Litigation Reform Act of 1995, which involve a
number of risks and uncertainties that could cause actual results
to differ materially from those in such forward-looking statements.
The risks and uncertainties relating to these statements include,
but are not limited to, risks and uncertainties regarding lingering
effects of the Covid-19 pandemic on our customers' businesses and
end purchasers' disposable income, our ability to raise capital on
any particular terms, fulfillment of customer orders, fluctuations
in earnings, fluctuations in foreign exchange rates, our ability to
manage growth, our ability to realize revenue from expanded
operation and acquired assets in China and the U.S., our ability to attract and
retain highly skilled professionals, client concentration, industry
segment concentration, reduced demand for technology in our key
focus areas, our ability to successfully complete and integrate
potential acquisitions, and unauthorized use of our intellectual
property and general economic conditions affecting our industry.
Additional risks that could affect our future operating results are
more fully described in our United States Securities and Exchange
Commission filings. These filings are available at www.sec.gov.
Dogness may, from time to time, make additional written and oral
forward-looking statements, including statements contained in the
Company's filings with the Securities and Exchange Commission and
our reports to shareholders. In addition, please note that any
forward-looking statements contained herein are based on
assumptions that we believe to be reasonable as of the date of this
press release. The Company does not undertake to update any
forward-looking statements that may be made from time to time by or
on behalf of the Company unless it is required by law.
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SOURCE Dogness (International) Corporation