Urban Tea Inc. Regains Compliance with Nasdaq Listing Rules
Urban Tea, Inc. - Ordinary Shares (MYT)
Company Research
Source: PR Newswire
CHANGSHA, China, May 3, 2019 /PRNewswire/ -- Urban Tea Inc. (the "Company", "we" or "Urban Tea") (NASDAQ: MYT), a premier retailer of specialty teas and baked goods in China, today announced that it has received a letter (the "Notification Letter") from the Nasdaq Stock Market LLC ("Nasdaq") stating that the Company has regained compliance with Listing Rule 5550(b).Nasdaq notified the Company on November 19, 2018 that it did not comply with the minimum $2.5 million stockholders' equity, or $35 million market value of listed securities, or $500,000 of net income from continuing operations requirements for The Nasdaq Capital Market set forth in Listing Rules 5550(b)(1), or 5550(b)(2), or 5550(b)(3), respectively. On April 22, 2019, the Company received the Notification Letter from Nasdaq notifying the Company that based on the Change in Shares Outstanding Form submitted on April 15, 2019 detailing an updated total shares outstanding amount of 22,810,314, Nasdaq has determined that the C
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