Luokung Technology receives noncompliance notification from Nasdaq

Luokung Technology announced that it has received a notification letter from Nasdaq notifying the company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rules 5550 and 5810, which require that the closing bid price for the company’s ordinary shares listed on Nasdaq be maintained at a minimum of $1.00 and failure to maintain it for 30 consecutive trading days constitutes a compliance deficiency.