Core Viewpoint - UTime Limited has received a 180-day extension from Nasdaq to regain compliance with its minimum bid price requirement, with a deadline set for August 26, 2024 [1][2]. Company Overview - UTime Limited, established in 2008, focuses on providing cost-effective mobile devices globally, particularly aiding low-income individuals in both established and emerging markets [3]. - The company has expanded its product line to include smart electric vehicle chargers in response to the growing demand for energy conservation and carbon reduction since July 2023 [3]. Compliance Details - To cure the deficiency, UTime must achieve a closing bid price of $1.00 per share or higher for at least 10 consecutive business days during the compliance period [2]. - The company is considering various options, including a reverse stock split, to regain compliance [2].
UTime Limited Receives 180-day Extension from Nasdaq to Meet Minimum Bid Price Rule