Core Viewpoint - Webuy Global Ltd. is facing delisting from Nasdaq due to non-compliance with the minimum bid price requirement but is actively pursuing a compliance plan and expanding its AI-driven business model to enhance growth and shareholder value [2][3][6]. Nasdaq Compliance and Appeal Process - On January 22, 2025, Webuy received a delisting notice from Nasdaq for failing to meet the $1.00 minimum bid price requirement, leading to suspension of trading on January 31, 2025 [2]. - The company has formally appealed the delisting decision and is scheduled to present its compliance plan at a hearing on February 27, 2025 [3]. Reverse Stock Split and Compliance Plan - Shareholders approved a reverse stock split at the AGM on December 18, 2024, with a ratio of 1-for-10 to 1-for-40, and the Board approved a 1-for-40 split on January 15, 2025 [4]. - Following the delisting notice, Webuy's shares are now traded on the OTC market, requiring additional approval from FINRA for the reverse split, with an application submitted on February 3, 2025 [5]. Strong Business Performance and AI Expansion - Despite procedural challenges, Webuy remains financially robust, having raised $3.6 million in a registered direct offering on December 17, 2024, to enhance its AI-powered solutions in e-commerce and travel [6]. - The company is committed to regaining its Nasdaq listing and executing its AI-driven growth strategy to create long-term shareholder value [6]. About Webuy Global Ltd. - Webuy is a technology-driven company aiming to be the leading e-commerce and travel platform in Southeast Asia, utilizing advanced AI technologies to enhance its 'group buy' model and provide personalized travel solutions [7]. - The company focuses on improving customer experiences through innovations like personalized itinerary planning and predictive demand analytics [8].
Webuy Global Ltd. Provides Update on Nasdaq Listing and Strategic Growth Initiatives