NEW
YORK, April 29, 2025 /PRNewswire/ -- Paranovus
Entertainment Technology Limited ("PAVS" or the "Company"),
(NASDAQ: PAVS) announced today that it has received a formal
notification from the Nasdaq Stock Market LLC ("Nasdaq"), dated
April 25, 2025, notifying that the
Company has regained compliance with Nasdaq Listing Rule 5250(c)(2)
(the "Rule").
The Nasdaq staff has determined that the Company complies with
the Rule based on the Form 6-K furnished by the Company on
April 24, 2025, disclosing its
interim financial statements for the six-month ended September 30, 2024. Accordingly, the Company has
regained compliance with Nasdaq Listing Rule 5250(c)(2) and this
filing delinquency matter is now closed.
About Paranovus Entertainment Technology Limited
Paranovus Entertainment Technology Ltd. focuses on the
development of AI-powered entertainment products, including
AI-driven games and applications, as well as TikTok-related
e-commerce solutions through its subsidiary. The Company is
committed to delivering immersive and engaging experiences through
innovative AI and digital commerce platforms.
In March 2025, the Company
completed the acquisition of the controlling equity interests of
Bomie Wookoo Inc., a New York
company that offers e-commerce solutions. As part of its strategic
transformation, Paranovus has exited its legacy businesses,
including the e-commerce, internet information, and advertising
businesses in September 2023 and
ceased its automobile sales business in July
2024.
For more information on our latest innovations and developments,
visit https://www.pavs.ai/.
Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may, "will, "intend," "should," "believe," "expect," "anticipate,"
"project," "estimate" or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company's expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's goals and strategies; the
Company's future business development; the Company's future
acquisition opportunities; the Company's ability to identify any
acquisition opportunities that fit with our business
strategies; the Company's ability to consummate an
attractive acquisition and realize the benefits of such
transaction; product and service demand and acceptance; changes in
technology; economic conditions; reputation and brand; the impact
of competition and pricing; government regulations; fluctuations in
general economic, the COVID-19 outbreak and its impact on our
operations and assumptions underlying or related to any of the
foregoing and other risks contained in reports filed by the Company
with the U.S. Securities and Exchange Commission. For these
reasons, among others, investors are cautioned not to place undue
reliance upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
U.S. Securities and Exchange Commission, which are available for
review at www.sec.gov. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof.
For more information, please contact:
Michael Chen
929.288.7418
michael@pavs.ai
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SOURCE Paranovus Entertainment Technology Ltd.
