p2egamescrypto| RAYA Electronics (RAYA.US) again receives Nasdaq delisting warning

Gelonghui (RAYA.US) announced on May 15th.P2egamescryptoOn November 20, 2023, the company received a written notice from the listing qualification Department of the Nasdaq Stock Market that, based on the closing purchase price of $0.0001 per share ("common shares") over the past 30 consecutive trading days, the company failed to comply with Nasdaq listing rules 5450 (a) (1) requiring listed securities to maintain a minimum purchase price of $1.00 per share (the "minimum purchase price requirement"). Nasdaq listing rules 5810 (C) (3) (A)P2egamescryptoIf it lasts less than 30 consecutive trading days, there is a failure to meet the minimum purchase price requirements. The company was offered 180 calendar days until May 13, 2024 to restore compliance.

On May 14, 2023, the Company received a written notice from Nasdaq indicating that, although the Company had not resumed compliance with the minimum bid requirement before 13 May 2024 in accordance with Rule 5810 (c) (3) (A) of the Nasdaq listing rules, the Company was eligible for an extension of another 180 calendar days or until November 11, 2024 to restore compliance with Rule 5550 (a) (2) of the Nasdaq listing rules. In order to restore compliance, the closing offer for the company's common shares must reach or exceed $1.00 per share for at least ten working days during this 180-day period.

The notice did not take immediate effect on the listing of common shares on the NASDAQ capital market. If the company fails to restore compliance by November 11, 2024, Nasdaq will issue a notice that the company's common shares will be delisted. The company will then have the right to appeal Nasdaq's decision to the Nasdaq listing eligibility panel and request a hearing.

The company intends to monitor the closing price of common shares and consider the options available to address non-compliance with the minimum bid requirements. There is no guarantee that the company will be able to re-comply with the continuing listing requirements of the Nasdaq capital market, nor can there be any guarantee that Nasdaq will further extend the time for the company to return to compliance (if applicable).

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