Dogness Receives NASDAQ Notification Regarding Minimum Total Holders Requirements
March 11 2020 - 5:35PM
Dogness (International) Corporation (“Dogness” or the “Company”)
(NASDAQ: DOGZ), a developer and manufacturer of pet products in
China, including smart products, hygiene products, health and
wellness products, and leash products, today announced that on
March 9, 2020, it received a letter from The Nasdaq Stock Market
LLC (“Nasdaq”), notifying the Company that it is currently not in
compliance with the Total Holders requirement set forth under
Nasdaq Listing Rule 5450(a)(2), which requires companies listed on
the Nasdaq Global Market to maintain a minimum of 400 total
beneficial and record shareholders. This press release is issued
pursuant to Nasdaq Listing Rule 5810(b), which requires prompt
disclosure of receipt of a deficiency notification. The
notification has no immediate effect on the listing of the
Company's Class A common shares, which will continue to trade
uninterrupted on Nasdaq under the ticker “DOGZ”.
Pursuant to Nasdaq Rules the Company has 45
calendar days to submit a plan to regain compliance. If the plan is
accepted, Nasdaq can grant an extension of up to 180 calendar days
from the date of the letter to evidence compliance. Alternatively,
the Company may consider applying to transfer the Company’s
securities to The Nasdaq Capital Market.
About Dogness
Dogness (International) Corporation was born in
2003 from the belief that pet dogs and cats are important,
well-loved family members. Through its smart products, hygiene
products, health and wellness products, and leash products, Dogness
is able to simplify pet lifestyles, make them more scientific, and
enhance the relationship between pets and pet caregivers. The
Company ensures industry-leading quality through its fully
integrated vertical supply chain and world-class research and
development capabilities, which has resulted in over 100 patents
and patents pending. Dogness products reach families worldwide
through global chain stores and distributors. For more information,
please visit: www.dognesspet.com.
Forward-Looking Statements
No statement made in this press release should
be interpreted as an offer to purchase or sell any security. Such
an offer can only be made in accordance with the Securities Act of
1933, as amended, and applicable state securities laws. Certain
statements in this press release concerning our future growth
prospects are forward-looking statements regarding our future
business expectations intended to qualify for the “safe harbor”
under the Private Securities Litigation Reform Act of 1995, which
involve a number of risks and uncertainties that could cause actual
results to differ materially from those in such forward-looking
statements. The risks and uncertainties relating to these
statements include, but are not limited to, risks and uncertainties
regarding our ability to raise capital on any particular terms,
shareholder interest in our Class A common shares, fluctuations in
earnings, fluctuations in foreign exchange rates, our ability to
manage growth, our ability to realize revenue from expanded
operation and acquired assets in China and the U.S., our ability to
attract and retain highly skilled professionals, client
concentration, industry segment concentration, reduced demand for
technology in our key focus areas, our ability to successfully
complete and integrate potential acquisitions, and unauthorized use
of our intellectual property and general economic conditions
affecting our industry. Additional risks that could affect our
future operating results are more fully described in our United
States Securities and Exchange Commission filings. These filings
are available at www.sec.gov. Dogness may, from time to time, make
additional written and oral forward-looking statements, including
statements contained in the Company’s filings with the Securities
and Exchange Commission and our reports to shareholders. In
addition, please note that any forward-looking statements contained
herein are based on assumptions that we believe to be reasonable as
of the date of this press release. The Company does not undertake
to update any forward-looking statements that may be made from time
to time by or on behalf of the Company unless it is required by
law.
Contacts:
ICR, Inc.Rose ZuTel:
+1-646-588-0383Email: ir@dognesspet.com
Dogness (NASDAQ:DOGZ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Dogness (NASDAQ:DOGZ)
Historical Stock Chart
From Apr 2023 to Apr 2024