Hong Kong, Dec. 30, 2024 (GLOBE NEWSWIRE) — Backyard Stage Restricted (NASDAQ: GSIW) (GSIW or the Firm), right this moment introduced that it obtained a delinquency notification letter (the Discover) from the Itemizing {Qualifications} Division of The Nasdaq Inventory Market LLC (Nasdaq) on December 24, 2024 indicating that the Firm isn’t presently in compliance with the minimal bid worth requirement set forth in Nasdaq’s Itemizing Guidelines for continued itemizing on the Nasdaq Capital Market, because the closing bid worth for the Firm’s extraordinary shares listed on the Nasdaq Capital Market was under $1.00 per share for 30 consecutive enterprise days. Nasdaq Itemizing Rule 5550(a)(2) requires listed securities to take care of a minimal bid worth of $1.00 per share, and Nasdaq Itemizing Rule 5810(c)(3)(A) gives {that a} failure to fulfill the minimal bid worth requirement exists if the deficiency continues for a interval of 30 consecutive enterprise days. The Discover gives that the Firm has a interval of 180 calendar days from the date of the Discover, or till June 23, 2025, to regain compliance with the minimal bid worth requirement.
The receipt of the Discover has no instant impact on the Firm’s enterprise operations or the itemizing of the Firm’s extraordinary shares, which can proceed to commerce uninterrupted on the Nasdaq underneath the ticker GSIW. Pursuant to the Discover, the Firm has till June 23, 2025 to regain compliance with the minimal bid worth requirement, throughout which era the Firm’s extraordinary shares will proceed to commerce on the Nasdaq Capital Market. If at any time earlier than June 23, 2025, the bid worth of the Firm’s extraordinary shares closes at or above $1.00 per share for at least 10 consecutive enterprise days, Nasdaq will present written affirmation of compliance to the Firm.
Within the occasion that the Firm doesn’t regain compliance by June 23, 2025, the Firm could also be eligible for extra time to regain compliance. To qualify, the Firm can be required to fulfill the continued itemizing requirement for market worth of publicly held shares and all different preliminary itemizing requirements for the Nasdaq Capital Market, apart from the minimal bid worth requirement. As well as, the Firm can be required to inform Nasdaq of its intent to treatment the deficiency in the course of the second compliance interval.
About Backyard Stage Restricted
GSIW, via our Working Subsidiaries, are a Hong Kong-based monetary providers supplier principally engaged within the provision of (i) putting and underwriting providers; (ii) securities dealing and brokerage providers; (iii) asset administration providers; and (iv) funding advisory providers. Our operation is carried out via our wholly-owned Working Subsidiaries: a) I Win Securities Restricted, which is licensed to conduct Sort 1 (dealing in securities) regulated actions underneath the SFO in Hong Kong, and b) I Win Asset Administration Restricted, which is licensed to conduct Sort 4 (advising on securities) and Sort 9 (asset administration) regulated actions underneath the SFO in Hong Kong. I Win Securities Restricted is the Inventory Trade Participant and holds one Inventory Trade Buying and selling Proper. I Win Securities Restricted is a participant of the HKSCC.
Secure Harbor Assertion
This announcement incorporates forward-looking statements. These statements are made underneath the “safe harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. These forward-looking statements might be recognized by terminology akin to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and comparable statements. The Firm may make written or oral forward-looking statements in its periodic stories to the U.S. Securities and Trade Fee, in its annual report back to shareholders, in press releases and different written supplies and in verbal statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic details, together with however not restricted to statements concerning the Firm’s beliefs and expectations, are forward-looking statements. Ahead wanting statements contain inherent dangers and uncertainties. Plenty of elements may trigger precise outcomes to vary materially from these contained in any forward-looking assertion. Additional data concerning these and different dangers is included within the Firm’s filings with the Securities and Trade Fee. All data offered on this press launch is as of the date of the press launch, and the Firm undertakes no obligation to replace such data, besides as required underneath relevant legislation.
For extra data, please contact:
Backyard Stage Restricted
Chan Sze Ho
Chief Govt Officer
E-mail: rickychan@iwinsec.com
Tel: (852) 2688 6333
Supply: Backyard stage Restricted
