GD Culture Group receives Nasdaq noncompliance notification

GD Culture Group (GDC) received a written notification from the Nasdaq Stock Market dated March 20, notifying the Company that it is no longer in compliance with Nasdaq Listing Rule 5550(b)(1). Nasdaq Listing Rule 5550(b)(1) requires companies on the Nasdaq Capital Market to maintain a minimum of $2.5M in stockholders’ equity for continued listing, however, based on the Company’s Form 10-K for the fiscal year ended December 31, 2024, dated March 18, 2025, the Company reported stockholders’ equity of $2,643. Nasdaq has also determined that the Company does not meet the alternatives of market value of listed securities or net income from continuing operations for continued listing. The Notification Letter has no immediate effect on the Company’s listing on the Nasdaq Capital Market at this time. In accordance with the Nasdaq Listing Rules, the Company has been provided 45 calendar days, or until May 4, to submit a plan to regain compliance. If such compliance plan is accepted by Nasdaq, the Company may be granted a compliance period of up to 180 calendar days from the date of the Notification Letter to evidence compliance. The Company’s business operations are not affected by the receipt of the Notification Letter. The Company is looking into various options available to regain compliance and maintain its continued listing on the Nasdaq Capital Market. The Company intends to submit the compliance plan as soon as practicable.