MMTEC, Inc. Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

Core Viewpoint - MMTEC, Inc. has received a notification from Nasdaq regarding non-compliance with minimum bid price requirements, specifically that the closing bid price has been below $1.00 for 30 consecutive business days [1][2]. Compliance Period - The company has a compliance period of 180 calendar days, until January 6, 2025, to regain compliance with the Bid Price Rule [2]. - If the closing bid price reaches at least$1.00 for 10 consecutive business days during this period, Nasdaq will confirm compliance [2]. Additional Compliance Options - If compliance is not regained by January 6, 2025, the company may be eligible for an additional 180-day period, provided it meets other listing requirements [3]. - The company may consider options such as a reverse stock split to regain compliance [3][4]. Monitoring and Future Actions - The company intends to monitor its stock price and may explore available options to regain compliance, including a reverse stock split [4].