MDJM LTD Notifies Shareholders of Nasdaq Bid Price Challenges

Author: Evelyn Baker Updated: 10-25-2024 04:09 PM

MDJM LTD Facing Nasdaq Compliance Notification

MDJM LTD (Nasdaq: MDJH), a culture-driven asset management firm, recently reported receiving a notification letter from Nasdaq regarding a deficiency in meeting the minimum bid price requirement. This notification, issued by the Listing Qualifications Department, serves as an important update for the company and its stakeholders.

Understanding the Compliance Requirement

According to Nasdaq Listing Rule 5550(a)(2), companies are required to maintain a minimum bid price of $1.00 per share. If this requirement isn't met for 30 consecutive business days, as outlined in Nasdaq Listing Rule 5810(c)(3)(A), a notification is issued. MDJM LTD did not meet this standard based on their ordinary shares' closing bid price from a recent 30-day analysis.

Regaining Compliance with Nasdaq

Fortunately, the notification letter does not disrupt MDJM's current listing on the Nasdaq Capital Market. The company has a 180-day window, until a future date in 2025, to regain compliance with Nasdaq's regulations. Should the closing bid price for the ordinary shares rise to at least $1.00 for ten consecutive business days within this period, MDJM will receive confirmation of compliance.

Strategies for Compliance and Future Opportunities

If the company is unable to meet the compliance requirements in that timeframe, an additional grace period of 180 days may be granted. For this to occur, MDJM must continue to satisfy market value criteria and notify Nasdaq of its plan to rectify the situation, which could include a reverse stock split.

About MDJM LTD's Vision

MDJM LTD is dedicated to transforming historical properties into vibrant cultural centers that seamlessly integrate modern technology and rich history. The company is actively developing projects, including notable venues that combine fine dining, hospitality services, and artistic exhibitions. With initiatives like the renovation of properties in the UK, MDJM is positioning itself to facilitate cultural exchange and artistic collaboration.

Company's Commitment to Cultural Exchange

These developments highlight MDJM's commitment to enhancing its cultural footprint globally. The firm aims to create venues that not only serve as places for dining and art but also as spaces for cultural activities, fostering a blend of Eastern and Western cultures. Through its strategic efforts, the company underscores its operational growth while simultaneously enriching the community's cultural landscape.

Contact Information for Investors

Investors seeking further information can reach out to Sherry Zheng at Weitian Group LLC. For inquiries, you can send an email or contact the office by phone, as detailed below:

Investor Contact:

Sherry Zheng
Weitian Group LLC
Phone: +1 718-213-7386

Frequently Asked Questions

What challenges is MDJM LTD currently facing?

MDJM LTD has received a notification from Nasdaq concerning a deficiency in its bid price, which may affect its compliance status.

What is the minimum bid price required by Nasdaq?

Nasdaq requires listed companies to maintain a minimum bid price of $1.00 per share to stay compliant.

How long does MDJM have to regain compliance?

MDJM has 180 days to meet the minimum bid price requirement again, with potential for an additional grace period if needed.

What actions might MDJM take to restore compliance?

The company could implement a reverse stock split and take necessary steps to ensure its share price exceeds $1.00 for the required duration.

What is MDJM's focus moving forward?

MDJM is focused on enhancing its cultural footprint through innovative property developments while fulfilling compliance requirements with Nasdaq.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

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