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LETHAM, Scotland - MDJM LTD (NASDAQ:UOKA), an asset management firm specializing in cultural properties, has been notified by the Nasdaq Stock Market that its shares are subject to delisting. The company’s stock, currently trading at $0.14 and down 85% over the past year according to InvestingPro data, did not meet the minimum bid price requirement and may be removed from the Nasdaq Capital Market unless it successfully appeals the decision.
The Nasdaq’s Listing Qualifications Department issued a staff determination letter to MDJM on April 23, 2025, after the company failed to maintain a minimum bid price of $1.00 per share. This follows an initial notice on October 23, 2024, which gave the company 180 days to comply with the bid price rule. InvestingPro analysis shows the company’s financial health score is currently rated as WEAK, with negative EBITDA of $2.71 million.
MDJM’s non-compliance also makes it ineligible for an additional 180-day grace period, since it does not meet the $5 million minimum stockholders’ equity requirement for initial listing on the Nasdaq Capital Market.
The company has until April 30, 2025, to request an appeal before a Hearings Panel. If no appeal is filed, trading of MDJM’s securities will be suspended on May 2, 2025, and a Form 25-NSE will be submitted to deregister the securities.
In response to the delisting determination, MDJM plans to appeal and is considering measures to regain compliance, including a potential reverse stock split. The company will update shareholders as significant developments occur.
MDJM LTD is known for its work in transforming historic properties into cultural venues that combine digital technology with heritage. The company has several projects in the UK, aiming to create spaces for art exhibitions and cultural events, and to promote cultural exchanges between Eastern and Western traditions.
This news is based on a press release statement from MDJM LTD.
In other recent news, MDJM Ltd has announced the details of an upcoming extraordinary general meeting of shareholders, scheduled for April 2025. The meeting, as disclosed in a filing with the Securities and Exchange Commission, will focus on significant matters related to the company’s governance and future operations. The company, based in the Cayman Islands, has released a notice and proxy statement dated April 8, 2025, which outlines the proceedings and items for discussion. While specific resolutions have not been detailed, such meetings generally cover corporate actions like amendments to bylaws or changes in the board of directors. MDJM Ltd has also made a proxy card available for shareholders unable to attend in person, allowing them to vote on the proposals. This announcement follows routine disclosure requirements for publicly traded companies, ensuring shareholders are informed of significant events. Shareholders are encouraged to review the notice and proxy statement to understand the specifics and participate in the meeting.
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