SRIVARU Holding Received Nasdaq Panel Decision on Delisting Notice & Company Appealed

Company Overview - SRIVARU Holding Limited is a Cayman Islands-based company and the parent of SRIVARU Motor Private Ltd, a commercial-stage provider of premium electric motorcycles in India [3] - The company focuses on innovation, sustainability, and performance, aiming to redefine the future of mobility with affordable premium E2W vehicles [3] - SRIVARU's electric motorcycles feature redundant 3-channel automated braking, a low center of gravity for stability, enhanced safety features, and compatibility with home charging outlets [3] - The company holds a broad array of intellectual property, including a patent-pending chassis and drive acceleration system [3] - SRIVARU offers a superior total cost of ownership compared to traditional internal combustion engine motorcycles and E2W competitors [3] - The company oversees a manufacturing subsidiary crucial to achieving its vision for sustainable and innovative mobility [3] Nasdaq Delisting and Share Price Issues - Nasdaq issued a determination to delist SRIVARU's shares on January 17, 2025, due to failure to regain compliance with the minimum $1.00 bid price requirement [1] - The company's shares began trading on a reverse share split-adjusted basis on January 15, 2025, but failed to close above $1.00 [1] - SRIVARU formally appealed Nasdaq's determination on January 20, 2025, but trading in its shares will be suspended starting January 22, 2025 [1] - The company attributes the share price decline to actions by warrant holders who engaged in selling shares to influence the volume-weighted average price (VWAP) during the reset period [2] - These actions, while legal, have distorted the stock's market value and do not reflect the company's true underlying business performance [2] - SRIVARU is engaging with warrant holders for a full and final settlement to resolve the bid price issue [2] Business Strategy and Market Position - SRIVARU is dedicated to designing and manufacturing premium electric motorcycles, targeting the next generation of riders in India [3] - The company's focus on innovation and sustainability positions it as a key player in the evolving mobility sector [3] - SRIVARU's intellectual property and manufacturing capabilities are central to its competitive advantage and growth strategy [3]