Asset Entities Inc. Receives Non-Compliance Notification from Nasdaq

Asset Entities Inc. (NASDAQ:ASST) recently received a written notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC, indicating that the company is currently not in compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market tier.

The notification, received on December 16, 2024, stated that the company’s Class B Common Stock, with a par value of $0.0001 per share, did not meet the minimum bid price of $1.00 per share for the 30 consecutive business days spanning from October 31, 2024, to December 13, 2024. As per Nasdaq Listing Rule 5810(c)(3)(A), a failure to meet the minimum bid price requirement over a period of 30 consecutive business days triggers non-compliance.

Although the notification does not impact Asset Entities’ listing at the moment, the company’s name will be listed among non-compliant entities on Nasdaq’s website starting five business days from the date of the Notification Letter. Asset Entities Inc. now has until June 16, 2025, to rectify the non-compliance issue by achieving a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. Failure to regain compliance in the stipulated 180-day period may result in an additional 180-day grace period, subject to certain conditions.

To address the deficiency, Asset Entities Inc. intends to closely monitor the closing bid price of its Class B Common Stock and explore available options to meet the minimum bid price requirement outlined in Nasdaq Listing Rule 5550(a)(2). The company may resort to a reverse stock split if necessary to restore compliance.

Asset Entities Inc.’s Chief Executive Officer and President, Arshia Sarkhani, endorsed the report on behalf of the company, underscoring the commitment to addressing the compliance issues raised by Nasdaq.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Asset Entities’s 8K filing here.

Asset Entities Company Profile

Asset Entities Inc, a technology company, provides social media marketing and content delivery services across Discord, TikTok, and other social media platforms. It designs, develops, and manages servers for communities on Discord. The company offers discord investment education, entertainment, and marketing services.