Moxian regains compliance on listing rule regarding market value
September 18 2020 - 5:15AM
Moxian, Inc. (“Moxian” or the “Company”) (MOXC), an
offline-to-online (O2O) social media services and Internet media
marketing services provider, today announces it has received a
letter from Nasdaq, stating that the Company has regained
compliance on a listing rule regarding the market value of the
Company’s listed securities.
As previously disclosed, the Company has been
notified that by Nasdaq that for the last 30 consecutive business
days prior to March 20, 2020, the market value of the Company’s
listed securities was less than $35 million, which did not meet the
requirement for continued listing on The Nasdaq Capital Market (the
“Market Value Rule”). In accordance with Nasdaq Listing Rules,
Nasdaq provided the Company until September 16, 2020, to regain
compliance with the Market Value Rule.
On September 17, 2020, the Company received a
letter from NASDAQ notifying that Nasdaq has determined that for
the last 14 consecutive business days, from August 27 to September
16, 2020, the Registrant’s market value of listed securities has
been $35,000,000 or greater. Accordingly, the Company has regained
compliance with the Market Value Rule, and this matter is now
closed.
The Company is now working towards the
consummation of a merger with Btab Group, an e-commerce company
with principal operations in Australia, pursuant to the condition
agreement signed on August 27, 2020. This process which is subject
to the satisfaction of many conditions, including the approval of
the Company’s shareholders and that of all the regulatory
authorities, is not expected to close before December 31, 2020.
About Moxian, Inc.
Founded in 2013, Moxian is located in Shenzhen,
China, with subsidiaries in Beijing, Malaysia and Hong Kong, it is
an O2O integrated platform operator, and a service provider of
social media and Internet media marketing.
About Btab Group, Inc:
Founded in 2014 and established as a Holding
Company in 2018 as Btab Group of Companies (Btab Group Inc,), with
a central location in Sydney Australia, having offices in
Australia, China, UK and USA. Btab is an e-commerce services
provider and a product supplier to small businesses.
Safe Harbor Statement
This announcement contains forward-looking
statements as defined in Section 21E of the Securities Exchange Act
of 1934 as amended. These forward-looking statements are based on
the Safe Harbor provisions of the Private Securities Litigation
Reform Act of 1995 and may be governed by terms such as “will,”
“expect,” “anticipate,” “future,” “intend,” “plan,” Believe,
“estimate”, “potential”, “continue”, “in progress”, “goal”,
“guidance expectations” and similar statements are identified. The
company may also include in its periodic reports to the US
Securities and Exchange Commission (“SEC”), annual reports to
shareholders, press releases and other written materials, as well
as oral statements from third parties to the company’s management,
directors or employees. Oral forward-looking statements. Any
statements that are not historical facts, including statements
about the company’s philosophy and expectations, are
forward-looking statements that involve factors, risks, and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. These factors and
risks include, but are not limited to, the following: company’s
goals and strategies; future business development; financial status
and operating results; expected growth of China’s credit industry,
especially the expected growth of China’s online lending platform;
market-oriented and credit products and The demand and acceptance
of services; and the ability of credit to attract and retain
borrowers and lenders in the market; the relationship between the
company and strategic partners; industry competition; and policies
and regulations related to the company’s structure, business and
industry. More detailed information about these and other risks and
uncertainties is included in the company’s filings with the
Securities and Exchange Commission. All information provided in the
company’s introduction is the latest information as of the date of
publication of the company. Except as provided by applicable law,
the company is not obligated to update such information.
For further information, please contact
Tan.wanhong@moxiangroup.com
Moxian (NASDAQ:MOXC)
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