Full Press Release Details
Network Solutions Delinquency Notification Letter from Nasdaq
September 20, 2024 - Mobile-health Network
Solutions (Nasdaq: MNDR) ("MaNaDr" or
"the Company"), a leading Asia-Pacific telehealth provider, today announced
that it received a notice dated September 18, 2024, from the Listings Qualifications Department (the "Staff") of The
Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that the minimum bid price per share of its Class A ordinary shares
("Class A Ordinary Shares") was below $1.00 for a period of 30 consecutive business days and that the Company did not meet
the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Rule"). The Nasdaq
notification letter does not result in the immediate delisting of the Company's Class A Ordinary Shares, and the shares will continue
to trade uninterrupted under the symbol "MNDR."
to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of one hundred eighty (180) calendar days, or until March 17,
2025 (the "Compliance Period"), to regain compliance with Nasdaq's minimum bid price requirement. If at any time during
the Compliance Period, the closing bid price per share of the Company's Class A Ordinary Shares is at least $1.00 for a minimum
of ten (10) consecutive business days, Nasdaq will provide the Company a written confirmation of compliance, and the matter will be closed.
the event the Company does not regain compliance by March 17, 2025, the Company may be eligible for an additional 180 calendar day grace
period. To qualify, the Company will be required to meet the continued listing requirement for the market value of publicly held shares
and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement, and will need
to provide written notice of its intention to cure the deficiency during the second compliance period, including by effecting a reverse
stock split, if necessary. If the Company chooses to implement a reverse stock split, it must complete the split no later than ten (10)
business days prior to March 17, 2025, or the expiration of the second compliance period if granted.
Mobile-health Network Solutions
#41 in the Financial Times 2024 listing of 500 High-growth Asia-Pacific Companies, we are the first telehealth provider from the Asia-Pacific
region to be listed in the US. Through our MaNaDr platform, we offer personalized and reliable medical attention to users worldwide.
Our platform allows our community of healthcare providers to have a broader reach to users through virtual clinics without any start-up
costs and the ability to connect to a global network of peer-to-peer support groups and partners. Our range of seamless and hassle-free
telehealth solutions includes teleconsultation services, prescription fulfillment and other personalized services such as weight management
programs and gender-specific care. For more information, please visit https://investors.manadr.com/.
statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement
and closing dates. The words "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "plan," "potential," "predict," "project,"
"should," "target," "will," "would" and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are
not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from
the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks
including, but not limited to, the following: the Company's ability to execute our strategies, manage growth and maintain our corporate
culture; the Company's future business development, financial conditions and results of operations; expectations regarding demand
for and market acceptance of our products and services; changes in technology; economic conditions; the growth of the telehealth solutions
industry in Singapore and the other international markets the Company plans to serve; reputation and brand; the impact of competition
and pricing; government regulations; fluctuations in general economic and business conditions in Singapore and the international markets
the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by
the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking
statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and
Mobile-health Network Solutions specifically disclaims any obligation to update any forward-looking statement, whether as a result of
new information, future events or otherwise, except as required by law.
media inquiries, please contact:
| Mobile-health Network Solutions Investor Relations Contact: | ||
| 2 Venture Drive, #07-06/07 Vision Exchange | ||
| Singapore 608526 | ||
| (+65) 6222 5223 | ||
| Email: | investors@manadr.com | |
| Investor Relations Inquiries: | ||
| Skyline Corporate Communications Group, LLC | ||
| Scott Powell, President | ||
| 1177 Avenue of the Americas, 5 th Floor | ||
| New York, New York 10036 | ||
| Office: | (646) 893-5835 | |
| Email: | info@skylineccg.com |