ChinaNet (CNET) Regains Nasdaq Listing Compliance
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ChinaNet Online Holdings, Inc. (Nasdaq: CNET) announced receipt of a letter from the NASDAQ Stock Market stating that the Company has regained compliance with the $1.00 minimum closing bid price listing requirement and that, accordingly, it has determined to continue the listing of the Company's common stock on the NASDAQ Capital Market.
Previously, ChinaNet had been notified by the NASDAQ Stock Market of non-compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days. In order to regain compliance with the rule, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on September 1, 2016, the tenth consecutive trading day when the closing bid price of the Company's common stock traded over $1.00.
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