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Park Ha Biological Technology Co., Ltd. (NASDAQ:PHBT) announced it has received two deficiency notifications from the Nasdaq Stock Market regarding its continued listing requirements, according to a press release statement filed with the SEC.
On Tuesday, the company was notified by Nasdaq that it is not in compliance with the minimum closing bid price requirement of $1 per share, as set forth in Nasdaq Listing Rule 5550(a)(2). The notification followed the closing bid price of Park Ha Biological Technology’s ordinary shares remaining below $1 for the past 30 consecutive business days. The company’s shares will continue to trade on the Nasdaq Capital Market, and the notification does not currently affect the listing or trading of its shares.
Under Nasdaq Listing Rule 5810(c)(3)(A), the company has 180 calendar days, or until March 2, 2026, to regain compliance with the minimum bid price requirement. If the closing bid price reaches at least $1 per share for a minimum of ten consecutive trading days before that date, Nasdaq will provide written confirmation of compliance. If compliance is not achieved by March 2, 2026, the company may be eligible for an additional 180-day period if certain requirements are met.
Park Ha Biological Technology also received a separate notification from Nasdaq on Tuesday indicating that its Market Value of Listed Securities (MVLS) has been below the minimum $35 million required under Nasdaq Listing Rule 5550(b)(2) for the past 30 consecutive business days. The company has until March 2, 2026, to regain compliance by maintaining an MVLS of at least $35 million for ten consecutive business days during this period. If it does not regain compliance, Nasdaq may move to delist the company’s securities, though the company would have the opportunity to appeal.
Park Ha Biological Technology stated it intends to take reasonable measures to regain compliance with both requirements but cannot assure it will be successful. The company is actively monitoring its bid price and MVLS.
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