JMU Receives NASDAQ Notice Regarding Minimum Bid Requirements
Mercurity Fintech Holding Inc. - American Ordinary Shares (MFH)
Company Research
Source: PR Newswire
BEIJING, March 10, 2020 /PRNewswire/ -- JMU Limited (the "Company") (Nasdaq: MFH) today announced that the Company had received a notice from the NASDAQ Stock Market LLC ("NASDAQ"), dated March 2, 2020, notifying that, the Company is currently not in compliance with the minimum bid price requirement set forth under NASDAQ Listing Rule 5550(a)(2) (the "Rule"). It has resulted from the fact that the bid price of the Company's American depositary shares ("ADSs") closed below US$1 per share for the last 30 consecutive business days from January 15, 2020 to February 28, 2020. The Company has been granted a grace period of 180 calendar days, expiring on August 31, 2020, in which to regain compliance. The Company will regain compliance if, at any time during this 180-day period, the closing bid price of the Company's ADSs is at least US$1 for a minimum of ten consecutive business days. In the event the Company does not regain compliance with the Rule within 180 calendar days, the Company may
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