US LNG exports surge but will buyers in China turn up?
XI’AN, China - Bon Natural Life Limited (NASDAQ:BON), currently trading at $1.48 per share, has regained compliance with Nasdaq’s continued listing requirements, the company announced Monday. According to InvestingPro data, the stock has shown significant price volatility this year.
The bio-ingredient solution provider received formal notice from the Nasdaq Hearings Panel on July 2 confirming it had successfully met the Minimum Bid Price Requirement under Nasdaq Listing Rule 5550(a)(2). The Panel granted BON’s request to maintain its listing on the Nasdaq Capital Market. The company maintains a healthy current ratio of 2.42, with liquid assets exceeding short-term obligations.
The company had submitted its compliance plan to Nasdaq on May 16 and presented its case during a hearing on June 5. As part of the decision, BON will remain under a Discretionary Panel Monitor for one year, during which Nasdaq will monitor the company’s ongoing compliance with all continued listing standards.
Bon Natural Life, a Cayman Islands-registered company, operates in the natural, health, and personal care industries. The announcement was made in a company press release.
The company had faced potential delisting before successfully addressing the minimum bid price requirement. Nasdaq listing rules typically require companies to maintain a minimum bid price of $1.00 per share to remain listed on the exchange.
In other recent news, Bon Natural Life Limited announced several significant developments. The company signed a $16 million distribution agreement with Beijing Huahai Keyuan Technology Co., Ltd. to market its prebiotic products in China. Additionally, Bon Natural Life secured a $32 million exclusive cooperation agreement with Beijing Huahai Keyuan (Tech) Co., Ltd. for its patented postbiotic hypoglycemic ingredients, marking a strategic move into the blood glucose health market. In the fragrance sector, the company entered into an $18 million distribution deal with Tianjin Merrill-Youli Trading Co., Ltd., focusing on its Ambroxide and related natural fragrance compounds across the Asia-Pacific region.
Bon Natural Life also initiated a $1 million share buyback program, with TradeUp Securities managing the repurchase process. Furthermore, the company launched a new series of sleep health products featuring a proprietary Glucoraphanin-Myrosinase delivery system, aiming to enhance the bio-activity of glucoraphanin. These recent developments reflect Bon Natural Life’s strategic efforts to expand its market presence and product offerings.
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