BEIJING - ReTo Eco-Solutions, Inc. (NASDAQ:RETO), a provider of ecological and IoT technology services, has regained compliance with the Nasdaq minimum bid price requirement, the company announced today. The confirmation from The Nasdaq Stock Market LLC arrived on March 15, 2024, indicating that the issue regarding their bid price is now resolved.
The company also received a separate notice from Nasdaq on the same day, granting an extension for meeting the minimum stockholders' equity criteria. ReTo is required to submit its Form 20-F for the fiscal year ending December 31, 2023, by May 15, 2024, to demonstrate compliance with the stockholders' equity standards.
Founded in 1999, ReTo Eco-Solutions is known for its contributions to ecological restoration and solid waste treatment. The company manufactures eco-friendly construction materials, such as bricks and tiles, from mining waste, and provides soil remediation materials from solid waste. Additionally, ReTo offers urban ecological protection project services, including consultation, design, and construction, alongside roadside assistance and IoT technology development services.
The compliance with Nasdaq's bid price rule is a significant regulatory milestone for ReTo Eco-Solutions, marking its adherence to one of the key standards set by the stock exchange for listed companies. This development follows the company's ongoing efforts to meet regulatory requirements and maintain its listing on the Nasdaq stock exchange.
This information is based on a press release statement from ReTo Eco-Solutions, Inc.
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