Nasdaq issued a delisting determination to MMTEC, Inc. (MTC) for failing to meet the minimum bid price rule. The company’s common stock closed below $1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).
The determination follows a 1‑for‑8 reverse stock split executed on December 18, 2024, which removed the 180‑day compliance period normally available under Nasdaq rules, per Listing Rule 5810(c)(3)(A)(iv). As a result, MTC has no opportunity to regain compliance before the delisting deadline.
Nasdaq will delist MTC’s securities from the Nasdaq Capital Market. Trading in the company’s shares will be suspended at the opening of business on November 5, 2025, unless MTC files a request for a hearing with the Nasdaq Hearings Panel by November 3, 2025. A Form 25‑NSE will be filed to remove the company’s securities from Nasdaq listing and registration.
MMTEC had previously received a Nasdaq notification regarding minimum bid price deficiency on July 8, 2024, with a compliance period until January 6, 2025, indicating a recurring issue with maintaining the minimum bid price.
The company has indicated an intention to appeal, but its statements remain cautious, noting that there can be no assurance that the company will move to appeal, that any appeal would be successful, or that the company will ultimately be able to regain compliance with Nasdaq listing requirements.
MMTEC, a China‑based technology company, provides internet‑based technology services and solutions to Chinese‑speaking hedge funds, mutual funds, registered investment advisors, proprietary trading groups, and brokerage firms globally. Its primary revenue comes from the Gujia segment, which offers market data services and investor relations management services in China. As of the announcement, the company’s market capitalization was approximately $20.2 million.
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