New York, October 11 November 2022 /PRNewswire/ — ColorStar Technology Co., Ltd. (NASDAQ: CSCW) (“ColorStar” or the “Company”), an entertainment technology company with a global network focused on technology and artificial intelligence in entertainment industry applications, announced today in October 10, 2022it has received a letter from Nasdaq Stock Market, LLC (“Nasdaq”) notifying the Company that the Company’s common stock has closed at $1.00 per share or more, it has regained compliance with Nasdaq’s minimum requirements $1.00 Bid price per share required.
Nasdaq first notifies companies of failure to maintain minimum bid price $1.00 30 consecutive trading days under Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A) on October 27, 2021 and return to compliance by April 25, 2022 . On April 26, 2022, the company received another 180-calendar-day compliance period extension, and it is eligible for a further 180-calendar-day extension, or until October 24, 2022, to regain compliance.
United Nations October 10, 2022the company received a notification from Nasdaq confirming that within the past 10 consecutive business days, from September 26 to October 7, 2022the closing price of the company’s common stock is $1.00 per share or higher. Accordingly, the Company has re-complied with Rule 5550(a)(2) of the Listing Rules and this matter is now closed.
About Caixing Technology Co., Ltd.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) is an entertainment education company that provides online entertainment performances and online music education services. Its business operations are carried out through its wholly owned subsidiary, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The company’s online education is provided through its Color World music and entertainment education platform. For more information about the company, visit www.colorstarinternational.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, objectives, objectives, strategies, future events or performance, as well as underlying assumptions and other statements that state historical facts. When a company uses words such as “may,” “will,” “intend,” “should,” “believe,” “anticipate,” “anticipate,” “project,” “estimate,” or similar expressions for historical issues , it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause 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, including the development of Metaverse projects; demand for and acceptance of products and services; technological changes; economic conditions ; growth of the international education and training services market in which CSCW conducts business; reputation and branding; effects of competition and pricing; government regulations; fluctuations in general economic and business conditions and any of the foregoing risks and the underlying or related assumptions of other risks. For these reasons, among other things, investors should be careful not to place undue reliance on any forward-looking statements in this press release. Additional factors are discussed in the company’s filings with the Securities and Exchange Commission, which are available at www.sec.gov. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances after the date hereof, except as required by applicable law, regulation or rule.
Source Caixing Technology Co., Ltd.
