Envirotech Vehicles Reaffirms Momentum With AZIO AI and Provides Update on Nasdaq Compliance Process

Core Viewpoint - Envirotech Vehicles, Inc. (EVTV) is addressing a Nasdaq compliance matter that is procedural and administrative, not affecting its operational performance or strategic initiatives with AZIO AI [2][3][4]. Group 1: Nasdaq Compliance Matter - The compliance issue is related to the completion of routine annual proxy items following the annual meeting, with a substantial portion of votes already received [2]. - EVTV is actively soliciting the remaining votes needed to satisfy quorum and conclude the meeting in accordance with Nasdaq requirements [2][3]. - This matter does not impact the company's ongoing operations or growth initiatives, and the proxy process is expected to be completed in the ordinary course [3][7]. Group 2: Strategic Execution with AZIO AI - The company is executing under a defined transaction and operational framework with AZIO AI, focusing on scalable AI infrastructure and next-generation mobility solutions [5]. - The alignment with AZIO AI is viewed as a significant strategic opportunity, with a focus on disciplined execution and building durable shareholder value [6]. - Any potential merger or business combination with AZIO AI will require a separate shareholder vote, which will be conducted in compliance with applicable laws and regulations [4].