China Recycling Energy receives extension of compliance period from Nasdaq
China Recycling Energy Corporationy announced that the Company received a letter from Nasdaq Stock Market that the Company has been granted an additional 180-day grace period or until May 25, 2020 to regain compliance with the minimum $1.00 bid price per share Listing Rule. NASDAQ's determination was based on the Company having met the continued listing requirement for Market Value of Publicly Held Shares and all other applicable requirements for initial listing on the NASDAQ Capital Market, with the exception of the Bid Price Rule, and on the Company's written notice to NASDAQ of its intention to cure the deficiency during the second compliance period. If at any time during this grace period the closing bid price of the Company's security is at least $1.00 per share for a minimum of 10 consecutive business days, NASDAQ will provide written confirmation of compliance and this matter will be closed. The Company will monitor the closing bid price of its ordinary shares and will consider various options to regain compliance by the Expiration Date.