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New Century Logistics (BVI) Ltd (NASDAQ:NCL) announced Tuesday that it received a written notice from the Nasdaq Stock Market indicating that the company is not in compliance with the exchange’s minimum bid price requirement. The notification, dated Monday, stated that the closing bid price for the company’s ordinary shares had remained below $1.00 per share for the past 30 consecutive business days.
According to the filing, this notice does not currently affect the listing or trading of New Century Logistics’ ordinary shares on the Nasdaq Capital Market. The company now has 180 calendar days, until February 9, 2026, to regain compliance by ensuring that its closing bid price meets or exceeds $1.00 per share for at least 10 consecutive business days before the deadline.
If New Century Logistics does not achieve compliance within this initial period, it may be eligible for an additional 180-day extension, provided it meets other applicable listing requirements and notifies Nasdaq of its intention to resolve the deficiency. Failure to comply by the end of the compliance period, including any extension, could result in the company’s shares being subject to delisting from the exchange.
The company stated in the filing that it is monitoring its share price and evaluating potential options to address the deficiency, including a possible reverse stock split. There is no assurance that the company will be able to regain or maintain compliance with the minimum bid price requirement.
This information is based on a statement from New Century Logistics’ press release filed with the Securities and Exchange Commission.
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