MicroAlgo Inc. Faces NASDAQ Delisting Warning
Ticker: VENAF · Form: 6-K · Filed: Dec 31, 2024 · CIK: 1800392
Sentiment: bearish
Topics: listing-compliance, delisting-risk, nasdaq
TL;DR
NASDAQ says MicroAlgo's stock price is too low, might get delisted if they don't fix it by Dec 30, 2024.
AI Summary
MicroAlgo Inc. received a notification from NASDAQ on December 30, 2024, stating that its ordinary shares failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days. This non-compliance with NASDAQ Listing Rules requires the company to take action to regain compliance.
Why It Matters
Failure to regain compliance with NASDAQ's minimum bid price rule could lead to the delisting of MicroAlgo Inc.'s ordinary shares, impacting liquidity and investor confidence.
Risk Assessment
Risk Level: high — The company is at high risk of delisting from NASDAQ due to failure to meet the minimum bid price requirement.
Key Numbers
- $1.00 — Minimum Bid Price (The threshold MicroAlgo Inc. failed to maintain for 30 consecutive business days.)
Key Players & Entities
- MicroAlgo Inc. (company) — The company receiving the NASDAQ notification.
- NASDAQ (company) — The stock exchange that issued the non-compliance notice.
- $1.00 (dollar_amount) — The minimum bid price requirement that MicroAlgo Inc. failed to meet.
- December 30, 2024 (date) — The date NASDAQ notified the company of the non-compliance.
- September 23, 2024 (date) — The initial date NASDAQ notified the company of the bid price issue.
FAQ
What specific actions must MicroAlgo Inc. take to regain compliance with NASDAQ's minimum bid price rule?
The filing does not specify the exact actions MicroAlgo Inc. must take, only that they received a notification of non-compliance and must address it to regain compliance.
What is the timeframe given to MicroAlgo Inc. to regain compliance?
The filing does not explicitly state a deadline for regaining compliance, but the notification was received on December 30, 2024, indicating the issue needs to be addressed promptly.
What was the previous notification date from NASDAQ regarding the bid price?
NASDAQ initially notified the Company on September 23, 2024, that its ordinary shares failed to maintain the minimum bid price.
What is the consequence if MicroAlgo Inc. fails to regain compliance?
Failure to regain compliance with the Listing Rules of The Nasdaq Stock Market could lead to the delisting of the company's ordinary shares.
What is the principal executive office address of MicroAlgo Inc.?
The principal executive offices are located at Unit 507, Building C, Taoyuan Street, Long Jing High and New Technology Jingu Pioneer Park, Nanshan District, Shenzhen, People's Republic of China.
Filing Stats: 255 words · 1 min read · ~1 pages · Grade level 11.8 · Accepted 2024-12-31 06:00:24
Key Financial Figures
- $1.00 — iled to maintain a minimum bid price of $1.00 over the previous 30 consecutive busine
Filing Documents
- microalgo_6k.htm (6-K) — 17KB
- 0001829126-24-008645.txt ( ) — 18KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MicroAlgo Inc. By: /s/ Min Shu Name: Min Shu Title: Chief Executive Officer Date: December 31, 2024 2