MicroAlgo Inc., a foreign private issuer listed on NASDAQ under the ticker MLGO, has received a notification from the Nasdaq Stock Market LLC on September 23, 2024, indicating that the company's stock has been trading below the minimum bid price of $1.00 per share for the past 31 consecutive business days. This price is a requirement for continued listing under Nasdaq Listing Rule 5550(a)(2). Despite this notice, there is no immediate impact on the trading of MicroAlgo's securities on the Nasdaq Capital Market. The company has been granted a 180-day compliance period, ending on March 24, 2025, to meet the minimum bid price requirement. If MicroAlgo's stock closes at $1.00 or higher for at least ten consecutive business days within this period, Nasdaq will...Show More

MicroAlgo Inc., a foreign private issuer listed on NASDAQ under the ticker MLGO, has received a notification from the Nasdaq Stock Market LLC on September 23, 2024, indicating that the company's stock has been trading below the minimum bid price of $1.00 per share for the past 31 consecutive business days. This price is a requirement for continued listing under Nasdaq Listing Rule 5550(a)(2). Despite this notice, there is no immediate impact on the trading of MicroAlgo's securities on the Nasdaq Capital Market. The company has been granted a 180-day compliance period, ending on March 24, 2025, to meet the minimum bid price requirement. If MicroAlgo's stock closes at $1.00 or higher for at least ten consecutive business days within this period, Nasdaq will confirm the company's compliance and close the matter. If compliance is not achieved by the deadline, MicroAlgo may be considered for an additional 180-day period to regain compliance. The company's CEO, Min Shu, has signed off on the report, indicating that MicroAlgo intends to take all reasonable measures to regain compliance and that the notification does not affect its business operations.