THELOGICALINDIAN - According to contempo letters Nasdaq afresh notified Golden Bull Limited admonishing the aggregation that it is no best adjustable with advertisement rules due to the abridgement of Form 6K
Golden Bull Limited, a aggregation that operates as an online accounts exchange and a lending firm, was afresh contacted by Nasdaq with a warning. According to the firm’s announcement, Nasdaq notified Golden Bull that it bootless to accommodate its Form 6-K banking statements for the aeon of six months above-mentioned to June 30th, 2019.
The abridgement of the banking account interferes with Nasdaq’s advertisement rules, which may advance to Golden Bull’s abatement from Nasdaq’s advertisement if the aggregation fails to bear the all-important data.
However, Nasdaq will not acknowledge immediately, and has accustomed Golden Bull Ltd a 60-day borderline to actualize and bear a plan on regaining acquiescence with the advertisement rules.
The aggregation responded to the notification by claiming that it intends to bear the all-important advice afore the end of January 2024.
About Golden Bull Ltd.
As mentioned earlier, Golden Bull Limited started out as a accounts exchange and a lending close that provided concise loans to individuals and baby businesses. The aggregation serves barter in China, area it afresh appear that it had absitively to shut bottomward its peer-to-peer lending business.
Since then, Golden Bull focused on acceptable a car rental business but additionally a Bitcoin mining firm. The close started this alteration aback in March 2024, appropriate afterwards cryptocurrency prices comatose afterwards extensive its best aerial (ATH) in December 2024/January 2024.
However, this is additionally not the aboriginal time that the close accustomed a admonishing from Nasdaq. Previously, it was appear in backward September 2024 that the aggregation accustomed Nasdaq’s notification letter due to absence in the minimum bid amount requirements.
Golden Bull accustomed two Nasdaq acquiescence warnings in 6 months
According to letters from that time, Nasdaq states that the minimum bid amount per allotment for the firm’s accustomed shares accept been beneath $1 for over 30 after business days. This is not in acquiescence with Nasdaq’s advertisement rules, and Nasdaq beatific a warning, which did not accept an actual aftereffect either.
Instead, the aggregation was accustomed until March 24th, 2024 to assassinate a plan that would acquiesce it to achieve compliance. In added words, Golden Bull Ltd. bare to accession the closing bid amount of its accustomed shares to at atomic $1 for 10 after business days, or longer.
Now, the Bitcoin mining firm already afresh seems to accept problems with acquiescence on Nasdaq, and while it will not be unlisted immediately, it will accept to assignment for the advantage of blockage on Nasdaq.
What do you anticipate about the Golden Bull’s situation? Let us apperceive your thoughts in the comments below.
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