Moxian (NASDAQ:MOXC) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01
As previously disclosed, on March 20, 2020, Moxian, Inc. (the “Registrant”) received a letter from NASDAQ notifying the Registrant that for the last 30 consecutive business days prior to the date of the letter, the market value of the Registrant’s listed securities were less than $35 million, which did not meet the requirement for continued listing on The Nasdaq Capital Market, as required by Listing Rule 5550(b)(2) (the “Market Value Rule”). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), Nasdaq provided the Registrant with 180 calendar days, or until September 16, 2020, to regain compliance with the Market Value Rule.
On September 17, 2020, the Registrant received a letter from NASDAQ (the “September Letter”) notifying the Registrant 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 has now been closed by Nasdaq.
Nasdaq Listing Rule 5810(b) requires that the Registrant promptly disclose receipt of the September Letter. The Registrant is filing this Current Report on Form 8-K for the purpose of satisfying Nasdaq’s disclosure requirement.
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
| 3.01 | CM MV Listed Companies Compliance Letter |
Moxian, Inc. Exhibit
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To view the full exhibit click here
About Moxian (NASDAQ:MOXC)
Moxian, Inc., formerly Moxian China, Inc. is engaged in the online-to-offline (O2O) business. The Company provides an online platform for small and medium sized enterprises (SMEs) with physical stores to conduct business online, interact with existing customers and obtain new customers. The Company refers to its customers as Merchant Clients and the users of its mobile application and platform that are the Merchant Clients’ existing customers as Users. Its products and services are designed to allow Merchant Clients to conduct targeted advertising campaigns and promotions. The version of its platform is called Moxian+, which consists of its user mobile application, Moxian+ User App and a separate application for its Merchant Clients, the Moxian+ Business App. Both versions of the application are available in the Google Play Store and the Apple application Store. The Moxian+ User App provides access to a social media platform with a package of services.
