HONG
KONG, Feb. 28, 2025 /PRNewswire/ -- QMMM
Holdings Limited (Nasdaq: QMMM) (the "Company" or "QMMM Holdings"),
a digital media advertising, virtual avatar & virtual apparel
technology service provider in Hong
Kong, today announced that on February 26, 2025, the Company received a letter
from the Listing Qualifications staff of The Nasdaq Stock Market
("Nasdaq") notifying the Company that based on the closing bid
price of the Company for the period from January 8, 2025 to February 25, 2025, the Company no longer meets
the continued listing requirement of Nasdaq under Nasdaq Listing
Rules 5550(a)(2), to maintain a minimum bid price of $1 per share.
Nasdaq has provided the Company with an 180 calendar days
compliance period, or until August 25,
2025, in which to regain compliance with Nasdaq continued
listing requirement. In the event that the Company does not regain
compliance in the compliance period, the Company may be eligible
for an additional 180 calendar days, should the Company 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 is able to provide written notice of its intention to cure the
deficiency during the second compliance period, by effecting a
reverse stock split, if necessary. However, if it appears that the
Company will not be able to cure the deficiency, or if the Company
is otherwise not eligible, Nasdaq will provide notice that the
Company's securities will be subject to delisting.
The Company is currently evaluating options to regain compliance
and intends to timely regain compliance with Nasdaq's continued
listing requirement. Although the Company will use all reasonable
efforts to achieve compliance with Rule 5550(a)(2), there can be no
assurance that the Company will be able to regain compliance with
that rule or will otherwise be in compliance with other Nasdaq
continued listing requirement.
About QMMM Holdings Limited
QMMM Holdings is an award-winning digital advertising and
marketing production services company.
More information about the Company can be found at:
https://www.qmmm.io/
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
identify these forward-looking statements by words or phrases such
as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "is/are likely to," "potential,"
"continue" or other similar expressions. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's registration statement and other filings with the SEC,
which are available for review at www.sec.gov.
For more information, please contact:
QMMM Holdings Limited
Phone: +852 3549 6889
Email: info@qmmm.io
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SOURCE QMMM HOLDINGS LIMITED
