Earlyworks Co., Ltd. Received a Notification from NASDAQ Regarding Deficiency in Continued Listing Requirements

Core Points - Earlyworks Co., Ltd. has received a notification from NASDAQ indicating non-compliance with the minimum Market Value of Listed Securities (MVLS) requirement [1][2] - The minimum MVLS requirement set by NASDAQ is US$35 million, and the company has fallen below this threshold for 30 consecutive business days [2] - The company has been granted a 180-calendar-day compliance period, expiring on April 28, 2025, to regain compliance [4] Compliance Details - If the company's MVLS reaches or exceeds US$35 million for at least 10 consecutive business days during the compliance period, NASDAQ will confirm compliance [4] - Alternatively, compliance can be regained if the company meets the equity standard of at least US$2.5 million in shareholders' equity [4] - Failure to regain compliance by the end of the compliance period will result in a written notice regarding potential delisting [5] Company Overview - Earlyworks Co., Ltd. operates proprietary private blockchain technology, GLS, which is designed for various applications across multiple industries [6] - GLS features high-speed processing, tamper-resistance, security, and zero server downtime, making it versatile for sectors like real estate, advertising, telecommunications, metaverse, and financial services [6] - The company's mission is to continuously update GLS to serve as infrastructure in the evolving Web3/metaverse-like data society [6]