New Development for Global Interactive Technologies, Inc. (NASDAQ:GITS)
SEOUL, KOREA / ACCESS Newswire / February 10, 2025
Global Interactive Technologies, Inc. (NASDAQ:GITS), a media-tech company and creator of FANTOO, an all-in-one social media experience connecting k-culture fans globally, has recently received a Determination Letter from Nasdaq. The letter pertains to the Company’s compliance with the Minimum Bid Price Requirement of $1.00 per share.
On February 5, 2025, the Company was informed by the Staff at Nasdaq that it must address the Minimum Bid Price Requirement to remain listed on the stock exchange. This notification follows a previous disclosure made by the Company in August 2024, when Nasdaq granted a 180-day extension to comply with the rule.
In response to this development, Global Interactive Technologies, Inc. is taking proactive steps to address the concerns raised by Nasdaq. The Company is evaluating various strategies to regain compliance and ensure its continued presence on the exchange.
Global Interactive Technologies, Inc. remains committed to providing a unique and engaging social media platform for k-culture enthusiasts around the world. The Company’s dedication to innovation and growth will guide its decisions in navigating this compliance matter with Nasdaq.
How will this development affect me?
As an investor in Global Interactive Technologies, Inc. (NASDAQ:GITS), this news may impact the value of your holdings. It is important to stay informed about the Company’s compliance efforts and any future developments that may influence its stock performance.
How will this development affect the world?
The determination letter received by Global Interactive Technologies, Inc. reflects the importance of regulatory compliance in the global financial markets. Companies operating on major stock exchanges must adhere to listing requirements to maintain transparency and trust with investors worldwide.
Conclusion
Global Interactive Technologies, Inc. is actively working towards addressing the Minimum Bid Price Requirement set by Nasdaq. The Company’s commitment to compliance and innovation will shape its future trajectory in the media-tech industry.
