{"id":744050,"date":"2023-03-30T16:12:48","date_gmt":"2023-03-30T20:12:48","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lytus-technologies-receives-notice-from-nasdaq\/"},"modified":"2023-03-30T16:12:48","modified_gmt":"2023-03-30T20:12:48","slug":"lytus-technologies-receives-notice-from-nasdaq","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lytus-technologies-receives-notice-from-nasdaq\/","title":{"rendered":"Lytus Technologies Receives Notice from Nasdaq"},"content":{"rendered":"<div class=\"mw_release\">\n<p>MUMBAI, INDIA, March  30, 2023  (GLOBE NEWSWIRE) &#8212; Lytus Technologies Holdings PTV. Ltd. (the \u201cCompany\u201d) (NASDAQ:LYT), a platform technology services company, today announced that on March 24, 2023, Lytus Technologies Holdings PTV. Ltd. (the \u201cCompany\u201d) received a letter (the \u201cNasdaq Staff Deficiency Letter\u201d) from The\u00a0Nasdaq Stock Market LLC (\u201cNasdaq\u201d) indicating that, for the last thirty consecutive business days, the bid price\u00a0for the Company\u2019s common shares had closed below the minimum $1.00 per share requirement for continued listing on The\u00a0Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2).<\/p>\n<p>In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until September 20, 2023, to regain compliance. The letter states that the\u00a0Nasdaq staff will provide written notification that the Company has achieved compliance with Rule 5550(a)(2) if at any time before September 20, 2023, the bid price\u00a0of the Company\u2019s common stock closes at $1.00 per share or more for a minimum of ten (10) consecutive business days. The\u00a0Nasdaq Staff Deficiency Letter has no immediate effect on the listing or trading of the Company\u2019s common stock.<\/p>\n<p>The Company intends to monitor the bid price\u00a0of its common stock and consider available options if its common stock does not trade at a level likely to result in the Company regaining compliance with Nasdaq\u2019s minimum bid price rule by September 20, 2023.<\/p>\n<p>If the Company does not regain compliance with Rule 5550(a)(2) by September 20, 2023, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The\u00a0Nasdaq Capital Market, with the exception of the bid price\u00a0requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period, for example, by effecting a reverse stock split, if necessary. However, if it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq would notify the Company that its securities would be subject to delisting. In the event of such a notification, the Company may appeal the Nasdaq staff\u2019s determination to delist its securities. There can be no assurance that the Company will be eligible for the additional 180 calendar day compliance period, if applicable, or that the Nasdaq staff would grant the Company\u2019s request for continued listing subsequent to any delisting notification.<\/p>\n<p>\n        <b>About\u00a0Lytus\u00a0Technologies Holdings PTV. Ltd.<\/b><br \/>\n        \n      <\/p>\n<p>Lytus Technologies Holdings PTV. Ltd. is a growing platform services company.\u00a0The Company\u2019s business model consists primarily of distribution of linear content streaming\/telecasting services and\u00a0development of telemedicine products. The Company\u2019s platform provides customers with a one-stop\u00a0site with access to all of the services provided by the Company.\u00a0Additional information regarding the Company may be found on its website at www.lytuscorp.com.<\/p>\n<p>\n        <b>Forward Looking Statements<\/b><br \/>\n        \n      <\/p>\n<p>Statements in this press release regarding the Company that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not directly or exclusively relate to historical facts. In some cases, you can identify forward-looking statements by terms such as \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cexpects,\u201d \u201cplans,\u201d \u201canticipates,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cprojects,\u201d \u201cforecasts,\u201d \u201cpredicts,\u201d \u201cpotential,\u201d or the negative of those terms, and similar expressions and comparable terminology. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these expectations may not be achieved. Forward-looking statements represent our intentions, plans, expectations, assumptions and beliefs about future events and are subject to known and unknown risks, uncertainties and other factors outside of our control that could cause our actual results, performance or achievement to differ materially from those expressed or implied by these forward-looking statements.<\/p>\n<p>CONTACT:<\/p>\n<p>Rajeev Kheror<br \/> Lytus Technologies Holdings PTV. Ltd.<br \/> rajeev@lytuscorp.com<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc5OTA2MSM1NTAxODg3IzUwMDA3NTc4NA==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/Y2U1MDFkOTktYTE5My00NWE3LTg4NzQtMGYxN2MzNTczMzQ0LTUwMDA3NTc4NA==\/tiny\/Lytus-Technologies-Holdings-Pr.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI, INDIA, March 30, 2023 (GLOBE NEWSWIRE) &#8212; Lytus Technologies Holdings PTV. Ltd. (the \u201cCompany\u201d) (NASDAQ:LYT), a platform technology services company, today announced that on March 24, 2023, Lytus Technologies Holdings PTV. Ltd. (the \u201cCompany\u201d) received a letter (the \u201cNasdaq Staff Deficiency Letter\u201d) from The\u00a0Nasdaq Stock Market LLC (\u201cNasdaq\u201d) indicating that, for the last thirty consecutive business days, the bid price\u00a0for the Company\u2019s common shares had closed below the minimum $1.00 per share requirement for continued listing on The\u00a0Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until September 20, 2023, to regain compliance. The letter states that the\u00a0Nasdaq staff will &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lytus-technologies-receives-notice-from-nasdaq\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Lytus Technologies Receives Notice from Nasdaq&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-744050","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lytus Technologies Receives Notice from Nasdaq - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lytus-technologies-receives-notice-from-nasdaq\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lytus Technologies Receives Notice from Nasdaq - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MUMBAI, INDIA, March 30, 2023 (GLOBE NEWSWIRE) &#8212; Lytus Technologies Holdings PTV. Ltd. (the \u201cCompany\u201d) (NASDAQ:LYT), a platform technology services company, today announced that on March 24, 2023, Lytus Technologies Holdings PTV. Ltd. (the \u201cCompany\u201d) received a letter (the \u201cNasdaq Staff Deficiency Letter\u201d) from The\u00a0Nasdaq Stock Market LLC (\u201cNasdaq\u201d) indicating that, for the last thirty consecutive business days, the bid price\u00a0for the Company\u2019s common shares had closed below the minimum $1.00 per share requirement for continued listing on The\u00a0Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until September 20, 2023, to regain compliance. 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