Luokung Technology receives additional noncompliance notification from Nasdaq

Luokung Technology (LKCO) announced that the company received two letters from Nasdaq. The first letter notified the company that, based on the filing of its Form 20-F for the year ended December 31, 2023, the company has regained compliance with Nasdaq Listing Rule 5250(c)(1) regarding periodic filing requirements. Accordingly, Nasdaq considers this matter closed. The second letter notified the company that it no longer complies with the minimum stockholders’ equity of $2.5M for continued listing on the Nasdaq Capital Market under Listing Rule 5550(b)(1) and the company does not meet the alternatives of market value of listed securities or net income from continuing operations. These determinations are based on information reported in the 2023 20-F.