NEW
YORK, May 26, 2023 /PRNewswire/ -- On
May 18, 2023, Etao International Co.,
Ltd. (the "Company") received a deficiency letter from The Nasdaq
Stock Market, LLC ("Nasdaq") notifying the Company that it no
longer complies with Nasdaq's Listing Rule 5250(c)(1) due to its
failure to file Form 20-F for the period ended December 31, 2022 (the "Filing"). Nasdaq
informed the Company that it has sixty (60) calendar days to
submit a plan (the "Plan") to Nasdaq detailing how the Company
plans to regain compliance with Nasdaq's continued listing
requirements. If Nasdaq accepts the Company's proposed Plan, Nasdaq
can grant an exception of up to one hundred-eighty (180) calendar
days from the filing's due date, or until November 13, 2023, to regain compliance with
Nasdaq Rules.
In determining whether Nasdaq accepts the Company's Plan, Nasdaq
will consider things as the likelihood of the filing, along with
any subsequent periodic filings that will be due, can be filed
within the 180 day period, the Company's past compliance history
and the reasons for the late filing; among other things. The
Company is currently working on the Plan to regain compliance with
respect to the Listing Rule 5250(c)(1) to meet the requirements for
continued listing on the Nasdaq Capital Market.
CONTACT:
Wilson Liu
347-306-5134
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content:https://www.prnewswire.com/news-releases/nasdaq-deficiency-letter-301836035.html
SOURCE ETAO International Co., Ltd.