MDJM Ltd receives Nasdaq notification regarding bid price deficiency

MDJM announced that the company received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC on October 23, 2024, notifying the company that it is not in compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rules for continued listing on the Nasdaq. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the company’s ordinary shares for the 30 consecutive business days from September 11, 2024 to October 22, 2024, the company no longer meets the minimum bid price requirement.