Moxian regains compliance on listing rule regarding market value
Singapore, Sept. 18, 2020 (GLOBE NEWSWIRE) — Moxian, Inc. (“Moxian” or the “Company”) (MOXC), an offline-to-online (O2O) social media services and Internet media marketing services provider, today announces it has received a letter from Nasdaq, stating that the Company has regained compliance on a listing rule regarding the market value of the Company’s listed securities.
As previously disclosed, the Company has been notified that by Nasdaq that for the last 30 consecutive business days prior to March 20, 2020, the market value of the Company’s listed securities was less than $35 million, which did not meet the requirement for continued listing on The Nasdaq Capital Market (the “Market Value Rule”). In accordance with Nasdaq Listing Rules, Nasdaq provided the Company until September 16, 2020, to regain compliance with the Market Value Rule.On September 17, 2020, the Company received a letter from NASDAQ notifying that Nasdaq has determined that for the last 14 consecutive business days, from August 27 to September 16, 2020, the Registrant’s market value of listed securities has been $35,000,000 or greater. Accordingly, the Company has regained compliance with the Market Value Rule, and this matter is now closed.The Company is now working towards the consummation of a merger with Btab Group, an e-commerce company with principal operations in Australia, pursuant to the condition agreement signed on August 27, 2020. This process which is subject to the satisfaction of many conditions, including the approval of the Company’s shareholders and that of all the regulatory authorities, is not expected to close before December 31, 2020.About Moxian, Inc.Founded in 2013, Moxian is located in Shenzhen, China, with subsidiaries in Beijing, Malaysia and Hong Kong, it is an O2O integrated platform operator, and a service provider of social media and Internet media marketing.About Btab Group, Inc:Founded in 2014 and established as a Holding Company in 2018 as Btab Group of Companies (Btab Group Inc,), with a central location in Sydney Australia, having offices in Australia, China, UK and USA. Btab is an e-commerce services provider and a product supplier to small businesses.Safe Harbor StatementThis announcement contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934 as amended. These forward-looking statements are based on the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and may be governed by terms such as “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” Believe, “estimate”, “potential”, “continue”, “in progress”, “goal”, “guidance expectations” and similar statements are identified. The company may also include in its periodic reports to the US Securities and Exchange Commission (“SEC”), annual reports to shareholders, press releases and other written materials, as well as oral statements from third parties to the company’s management, directors or employees. Oral forward-looking statements. Any statements that are not historical facts, including statements about the company’s philosophy and expectations, are forward-looking statements that involve factors, risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These factors and risks include, but are not limited to, the following: company’s goals and strategies; future business development; financial status and operating results; expected growth of China’s credit industry, especially the expected growth of China’s online lending platform; market-oriented and credit products and The demand and acceptance of services; and the ability of credit to attract and retain borrowers and lenders in the market; the relationship between the company and strategic partners; industry competition; and policies and regulations related to the company’s structure, business and industry. More detailed information about these and other risks and uncertainties is included in the company’s filings with the Securities and Exchange Commission. All information provided in the company’s introduction is the latest information as of the date of publication of the company. Except as provided by applicable law, the company is not obligated to update such information.For further information, please contactTan.wanhong@moxiangroup.com
As previously disclosed, the Company has been notified that by Nasdaq that for the last 30 consecutive business days prior to March 20, 2020, the market value of the Company’s listed securities was less than $35 million, which did not meet the requirement for continued listing on The Nasdaq Capital Market (the “Market Value Rule”). In accordance with Nasdaq Listing Rules, Nasdaq provided the Company until September 16, 2020, to regain compliance with the Market Value Rule.On September 17, 2020, the Company received a letter from NASDAQ notifying that Nasdaq has determined that for the last 14 consecutive business days, from August 27 to September 16, 2020, the Registrant’s market value of listed securities has been $35,000,000 or greater. Accordingly, the Company has regained compliance with the Market Value Rule, and this matter is now closed.The Company is now working towards the consummation of a merger with Btab Group, an e-commerce company with principal operations in Australia, pursuant to the condition agreement signed on August 27, 2020. This process which is subject to the satisfaction of many conditions, including the approval of the Company’s shareholders and that of all the regulatory authorities, is not expected to close before December 31, 2020.About Moxian, Inc.Founded in 2013, Moxian is located in Shenzhen, China, with subsidiaries in Beijing, Malaysia and Hong Kong, it is an O2O integrated platform operator, and a service provider of social media and Internet media marketing.About Btab Group, Inc:Founded in 2014 and established as a Holding Company in 2018 as Btab Group of Companies (Btab Group Inc,), with a central location in Sydney Australia, having offices in Australia, China, UK and USA. Btab is an e-commerce services provider and a product supplier to small businesses.Safe Harbor StatementThis announcement contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934 as amended. These forward-looking statements are based on the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and may be governed by terms such as “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” Believe, “estimate”, “potential”, “continue”, “in progress”, “goal”, “guidance expectations” and similar statements are identified. The company may also include in its periodic reports to the US Securities and Exchange Commission (“SEC”), annual reports to shareholders, press releases and other written materials, as well as oral statements from third parties to the company’s management, directors or employees. Oral forward-looking statements. Any statements that are not historical facts, including statements about the company’s philosophy and expectations, are forward-looking statements that involve factors, risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These factors and risks include, but are not limited to, the following: company’s goals and strategies; future business development; financial status and operating results; expected growth of China’s credit industry, especially the expected growth of China’s online lending platform; market-oriented and credit products and The demand and acceptance of services; and the ability of credit to attract and retain borrowers and lenders in the market; the relationship between the company and strategic partners; industry competition; and policies and regulations related to the company’s structure, business and industry. More detailed information about these and other risks and uncertainties is included in the company’s filings with the Securities and Exchange Commission. All information provided in the company’s introduction is the latest information as of the date of publication of the company. Except as provided by applicable law, the company is not obligated to update such information.For further information, please contactTan.wanhong@moxiangroup.com
