In addition to the Low Priced Stocks Rule delisting notice, the Company also currently fails to satisfy the requirement that the closing bid price of its ordinary shares remain at
Pursuant to the Letter, unless the Company requests an appeal of this determination, trading of the Company's common stock will be suspended at the opening of business on
The Company plans to appeal Nasdaq's determination to a
The Company intends to monitor the closing bid price of its ordinary shares and may, if appropriate, consider implementing available options, including a reverse share split, to regain compliance with the Nasdaq Listing Rules for continued listing on Nasdaq.
About
Forward-Looking Statements
This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the
Contact
Investor Relations Department
Email: ir@upincar.com
Email: UPower.IR@icrinc.com
Phone: +1 (212) 475-0415
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