Webuy announced that on January 26, it received written notification from Nasdaq for failing to maintain a minimum bid price of $1.00 per share for the last 30 consecutive business days, as required by Nasdaq Listing Rule 5550(a)(2) – bid price. The Nasdaq notification has no immediate effect on the listing of Webuy’s shares. Under Nasdaq Listing Rule 5810(c)(3)(A), Webuy has 180 calendar days, or until July 24 to regain compliance. If at any time over this period the bid price of Webuy’s shares closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance and the matter will be closed.
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