Luokung Technology Corp Stock Price, News & Analysis

Luokung Technology Corp. (NASDAQ: LKCO) has addressed compliance issues with Nasdaq regarding periodic filing requirements. The company initially received a notice on January 9, 2025, for failing to file Form 6-K containing interim financial statements for June 30, 2024, violating Nasdaq Listing Rule 5250(c)(2). Following the company's submission of its semi-annual report on January 10, 2025, Nasdaq confirmed in a second letter dated January 13, 2025, that LKCO had regained compliance with the listing rule.

Luokung operates as a spatial-temporal intelligent big data services company and provides LBS and HD Maps services in China. The company specializes in HD Maps and multi-sourced intelligent spatial-temporal big data, serving industries including smart transportation, natural resource asset management, and LBS smart industry applications.

Luokung Technology (NASDAQ: LKCO) received two notices from Nasdaq on October 23, 2024. The first notice confirmed the company's compliance with periodic filing requirements following its 2023 Form 20-F submission. The second notice indicated non-compliance with the minimum stockholders' equity requirement of $2.5 million, as the company reported ($63,228,280) in stockholders' equity for 2023.

The company has until December 9, 2024, to submit a compliance plan to Nasdaq. If accepted, Nasdaq may grant an extension until April 21, 2025, to demonstrate compliance. Luokung intends to submit a plan within the required timeframe, though acceptance is not guaranteed.

Luokung Technology Corp. (NASDAQ: LKCO) has regained compliance with Nasdaq's minimum bid price requirement. On October 1, 2024, the company received a letter from Nasdaq confirming that it had evidenced a closing bid price of its ordinary shares at or above $1.00 for 10 consecutive business days as of September 30, 2024. This fulfills the requirement set by Nasdaq Marketplace Rule 5550(a)(2).

Luokung is a leading spatial-temporal intelligent big data services company and provider of interactive location-based services (LBS) and high-definition maps (HD Maps) in China. The company specializes in city-level and industry-level holographic spatial-temporal digital twin systems, serving industries such as smart transportation, natural resource asset management, and LBS smart industry applications.

Luokung Technology Corp. (NASDAQ: LKCO) has announced an 8-to-1 share combination effective September 17, 2024. Key points include:

- Trading will begin on a split-adjusted basis on the Nasdaq Capital Market under the same symbol 'LKCO'
- New CUSIP number: G56981 114
- Every 8 shares will be combined into one share
- Fractional shares will be rounded up to the next whole number
- Par value per share will be $0.0001
- Total authorized ordinary shares remain at 1 billion
- No shareholder approval required
- Company to file amended M&A with British Virgin Islands Registry of Corporate Affairs

The share combination aims to uniformly affect all shareholders without altering percentage interests, except for fractional share adjustments.

Luokung Technology (NASDAQ: LKCO), a leading provider of LBS and HD Maps in China, announced that it received a notice from NASDAQ on May 2, 2024, for not timely filing its 2023 Annual Report on Form 20-F. The notice states non-compliance with NASDAQ Listing Rule 5250(c)(1). Luokung has until July 1, 2024, to submit a compliance plan. If accepted, NASDAQ may extend the deadline to October 28, 2024. This notice does not currently impact the listing of Luokung shares on NASDAQ. Luokung is a key player in spatial-temporal intelligent big data services, offering solutions for smart transportation, natural resource asset management, and LBS smart industry applications.

Luokung Technology Corp. (LKCO) has been granted a 180-day extension by Nasdaq to meet the minimum bid price requirement of $1.00 per share for 10 consecutive trading days. The company now has until October 28, 2024, to regain compliance. Failure to meet the requirement may result in delisting.

Luokung Technology Corp. (NASDAQ: LKCO) has entered into a share subscription agreement with CHINA ORIENT SMART ECOTECH INVESTMENT GROUP LIMITED, aiming to raise a total of USD 220 million through the issuance of 5,469,019 restricted ordinary shares. The investment will be executed in two installments: $22 million within 30 days, followed by $198 million within 60 days. CEO Xuesong Song emphasized the strategic support from COIG, particularly in sectors like autonomous driving and vehicle networking. The deal seeks to maximize shareholder value amidst a currently low market valuation, ensuring future growth and potential returns.

Luokung Technology Corp. (NASDAQ: LKCO) announced a 30-to-1 share combination effective March 22, 2023. This corporate action will automatically convert every 30 shares into one, rounding up any fractional shares to the nearest whole number. The share combination, approved by the board, will maintain each shareholder's percentage interest in the company's total shares. The new CUSIP number for the ordinary shares will be G56981 205. Luokung specializes in spatial-temporal intelligent big data services and HD Maps for various industries in China, supporting sectors like smart transportation and resource management.