Recon Technology (RCON) has released an update.
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Recon Technology, Ltd., China’s first non-state owned oil and gas field service company listed on NASDAQ, is facing delisting due to its failure to meet the Nasdaq’s minimum bid price requirement. Despite efforts to comply over a granted compliance period, the company’s share price remained below $1. To counter the delisting, Recon has appealed to a Hearings Panel and is anticipating the effect of a share consolidation on May 1, 2024.
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